Efficiency is everything for businesses, both big and small.  Time is money as they say and the more time you can save in finance tasks, the more money your business can save.  Here are five ways that technology can improve your finance team and increase efficiency.

  1. Work On The Go

One of the best ways that technology can improve efficiency is through mobile apps and platforms.  If you have ever had to run back to the office to just add a value to a spreadsheet on your desktop, you know how much time this wastes.  In fact, nearly 80% of financial teams report that mobility will have a significant role in their efficiency in the coming years.

  1. Better Project Management

Just 15 years ago, managing multiple projects, team members and tasks was both an art and a science.  With modern project management platforms, this entire process is more organised and improves efficiency.

  1. Error Reduction

Human error is a thing of the past with modern finance technologies.  Through cloud accounting, data transfer through manual entry is minimised and automation helps to reduce the number of human errors and improves data accuracy.

  1. 24/7 Access

Sometimes finance teams might be spread out across the world.  With some people working from home and others at the office, working on the same project used to be a logistical challenge.  Through finance technology platforms, you’ll be able to access projects at any time of the day wherever you are in the world.

  1. Seamless Tech Integrations

Modern technology solutions allow you to integrate multiple business processes into one platform.  This means that other elements of the business (such as HR, time sheets, employee expense claims, dashboards and inventory management) can be easily connected with accounting and finance and vice-versa.  With more seamless connections, you’ll be able to save time and ensure all data across the business is consistent and every member of the team is on the same page.

Discover More with ABJ Business Solutions

ABJ Business Solutions specialises in providing businesses of all sizes increased productivity and efficiency through custom financial solutions.  Get in touch with us today to learn more about our tools and services!