This is my final stop on writing about companies that can benefit from accounting automation. I wanted to write a “catch-all” article because I didn’t want to leave any out. Well that’s not true… I am not from the generation where everyone got a trophy. I remember playing tee-ball in the seventies and (this must have been the start of political correctness), the umpire kept score, and told each team they won, then behind the dugout he let the coaches know who really won.
When I write about automating accounting process and which companies are better than others, the risk is you may get the impression that some types of companies are good and some are bad. It’s not true. There are only scales of good – better – best and you should have done this years ago.
The “other” types of companies have aspects where automation can help, but like any company the entire process needs to be analyzed and there has to be a cost justification with a plan to automate.
Here are a few companies that fall into the other category:
- Software – Design and Sales
- Utility Companies
Let’s take the software company as the example. Software companies are usually one or a few locations and are mostly private. They could also can be considered project based, how the projects aren’t normally interdependent on the client (some are – I will write about that tomorrow), so a software company doesn’t fit the first three types. Where accounting automation can help is in the gathering of data. Software firms have a tendency of having analytical aspects of their leadership, and if the company is pushing a lot of paper, you have got to wonder how hi-tech they really. Decision making with data and style are just two of the areas where automation can help, there are others, however the return on investment is not as high with these companies because of their less complex accounting processes.
Tomorrow I will conclude on company types and move into specific situation where accounting automation is helpful… stay tuned.
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