Automation is a game-changer for every industry and type of organization. Arguably the most impactful business automation has been in accounting processes. From lead to ledger the financial aspect of the customer’s journey is faster, easier, more accurate. On Salesforce, automated accounting is a critical component of the platform – both for smooth operations and informed, effective business strategies.
Let’s look at three types of automation your accounting solution should have.
3 Types of Automation You Need in an Accounting System
Automating key business processes has significant advantages. In a business world that’s not only rapidly changing, but also heavily data-driven, time is money. Additionally, your data is what guides you towards true return on investment opportunities while being efficient.
Here are core automations that take your accounting process from tedious manual labor to a simple button click.
Transactional accounting is now more streamlined and easier because accounting platforms can fully automate repetitive entries for you through event automation. For example, Accounting Seed utilizes click-not-code automation which enables you to do multiple functions with just a button click. The simpler automation is to implement, the more efficiency you gain. Event-related automation also lets users accomplish multiple tasks simultaneously. This reduces your manual labor while enhancing your entire system’s accuracy.
Event Automation Examples:
- Define an event as a specific action in the accounting life cycle, such as receiving payment, and then dictate what is next in sequence.
- Automate revenue recognition based on the appropriate sequence in the cycle.
- Automatically update records with real-time data.