What a lot of the uninitiated don’t realise is that there are a number of significant benefits to be had for the wider business from automating your data entry.
Ok, so we all know at this stage that manual data entry is painful, inaccurate, old school (and not in a good way) ridiculously expensive and more importantly... slow.
We also know that there is software out there to take that pain away. [cough] We'd recommend AutoEntry.
Data entry software enables customers to capture the data, process it and then pass that data into their accounting package. This saves users a lot of time and by extension… money. But that is only the start of where this type of software adds value. There are a number of tangible benefits at the organisation level also; scaling the business, better use of qualified staff, leading to happier staff and customers.
Accounting practices will spend €1 on accounting software, and they will then spend €10 on getting their data into that accounting software. This is bananas and this was the initial reason for developing AutoEntry.
So in short, data capture software removes the time spent on data entry. This does a few things:
THE OBVIOUS BENEFIT
“Before AutoEntry, we had over a 100 people spending hours each week to manually upload data for our bookkeeping clients. Since implementing AutoEntry we’ve driven productivity by almost 90% when processing bookkeeping data entry - an incredible time saving which we can reinvest back into the business”. - Toby Woodhead, Armstrong Watson
LESS OBVIOUS BENEFITS
"Quick and easy to use. initially I was controlling the data entry but now several customers have there own login access and they are loving it. I am also impressed by how the software seems to be learning how to deal with specific suppliers and over time makes the workflow smoother". - Jonathan Parkin, Finnies
SMEs (even more so than accounting/bookkeeping firms) cannot afford to spend their time doing data entry. They have a business to run and so data entry tasks are saved for when the working day is “over”. So when everybody else is locking their computer and going home, these SME business owners are staying back to do data entry (or taking it home to work on after dinner).
Automating data entry can have a dramatic effect on Small Business Owners:
To be fair, switching to a digital process isn’t a small decision, you are after-all changing how you do something. There are a few myths that are very common when looking at using automation:
Myth #1: Automation will replace accountants and bookkeepers
Fact: Technology will never replace the human touch. Automated technologies are designed to serve accountants and bookkeepers rather than usurp them. Skills based on years of experience and personal relationships built with clients, can’t be replaced by computers.
Myth #2: Using automated technologies and the cloud puts sensitive data at risk
Fact: Cloud service providers typically offer extremely high levels of data security, meaning that your sensitive data is exceptionally safe when stored in the cloud (and much more so, than physical copies in your filing cabinets). However, whilst it’s generally safe to work in the cloud, not all service providers offer the same quality of data protection, so do your homework before using a new cloud solution.
Myth #3: Automation is difficult and expensive for smaller firms to get started with
Fact: No matter what size your team is, it’s a mistake to believe that your practice can’t benefit from automation. Automation isn’t just available to larger practices with the deepest pockets, as automated solutions can typically flex to accommodate firms of all sizes to suit a range of budgets. In fact, automation can have an even bigger impact on smaller firms, where resources are stretched and time is limited.
You would be really surprised at how useful AutoEntry is. Our product expert, Brian Carolan, describes AutoEntry as a “simple little complicated tool”. The time savings will be obvious and you will realise this very quickly. After a little more time using the software, you will find that it is a genuinely valuable tool, and for a fraction of the cost of your other systems.
AutoEntry has a free trial, check it out the website and sign up for the trial.