Benefits of Automation and SST’s Recommended Platforms
For-profits and nonprofits alike have witnessed a shift in the workplace over the past few years as a result of the pandemic and its aftermath. In 2021, many organizations felt the impact of the Great Resignation as more than 47 million Americans quit their jobs. Employers have also felt the strain that inflation has created, as potential candidates for new roles demand higher starting salaries and current employees ask for raises to combat the rising cost of living.
These shifts in the workplace have led many organizations to evaluate which roles are vital to the company’s success and identify which roles or tasks can be automated. Relying on automation and cloud computing has become a new normal for most organizations because they recognize the long-term benefits including:
- Increased accuracy and efficiency
- Cost savings
- Enhanced security
- Increased transparency with real-time access
- Continuous technology improvements
- Strengthened internal controls
- Repurposed energy – employees can focus on mission critical activities rather than administrative tasks
More and more organizations are beginning to recognize and take advantage of these long-term benefits. According to Gartner, 85% of enterprises will have a cloud-first principle by 2025.
You might be asking yourself which tasks to automate first. There are numerous opportunities within the finance sector to consider automating. Through various platforms such as Divvy, QuickBooks Online, Kindful, Sage Intacct, APS, BILL, Gusto, Bloomerang, Nexonia and Expensify, your organization can automate:
- Expense management
- Accounts payable
- Donor management systems
- Student management systems
- Website transactions
- Remote deposit capabilities
- Electronic document management
- Dashboard reporting
- Cloud-based accounting systems with integrated bank and credit card feeds
Automating internal processes is a task that requires research, financial investment and time. For personalized recommendations on which platforms or tasks would benefit your organization, contact the experts at SST Accountants & Consultants. We will work alongside you to determine which processes make the most sense to automate first, and we can help your team determine the financial savings that automation will provide for your organization.