With the dawn of the new year comes an opportunity for businesses to delve into new accounting tech that drives efficiency and productive work.
Accounting tech helps you transform your business operations, allowing you to save time and money while easing the challenges of financial management. You can keep your data organized and processes efficient with tools designed to help small businesses.
When you’re using tools like Zapier to integrate your technology solutions, you’ll have a single source of data. Entering an input in one place means it’s automatically entered into every other tech tool your organization uses. You’ll have fewer errors and better business outcomes.
Here’s a closer look at some of the accounting tech solutions for 2022 your business should consider.
Accounting Tech for Project Management
Project management tools help you and your team get work completed on time and on budget. They allow your business to limit the number of handoffs between team members and have all your work stored and accessible in one location. When year-end accounting deadlines approach, you’ll be glad you invested in tools that kept projects on track.
These tools also eliminate the manual work of completing repetitive tasks. In addition, you’ll have up-to-date project status reports that help you track what’s been done, the spend rate, and where bottlenecks lie.
Here are two accounting tech solutions for project management.
Asana
Asana lets you build project plans, assign and manage tasks, and meet deadlines. As a collaboration tool, Asana helps your teams share files and feedback with an integrated, centralized communications tool to connect with team members, vendors, and clients.
Asana lets you map out your goals, set priorities, and track progress via real-time status updates, dashboards, and reports, keeping you aware of small issues before they become bigger problems.
Monday.com
With more than 200 built-in workflows, Monday.com helps you plan, track and deliver work efficiently. It integrates with other tools – from Outlook, Teams, and Slack to Dropbox, Zoom, and Google Drive – keeping all your teams’ work in one place.
Monday.com tracks all the moving parts – assignments, budget sign-offs, project roadmaps, and progress – in one space. Dashboards provide real-time status updates and help you save time, avoid rework, and collaborate effectively.
Accounting Tech for Bill Paying
Paying the bills is a time-consuming and often repetitive process. Integrating bill-paying into your other systems helps you save time and money. It also ensures you’ll:
- Never miss a payment.
- Improve vendor relationships.
- Have confidence in your payment delivery processes.
Here are a couple of bill-paying technologies to consider in 2022.
Melio
Manage your accounts payable processes with Melio, which lets you coordinate payments to vendors and contractors. An all-in-one dashboard lets you integrate payments with QuickBooks and FreshBooks, eliminating the need for dual data entry and syncing with existing workflows. There are no sign-ups or subscription fees for you or your clients, and payments for free (ACH) or a low fee (credit cards).
Bill.com
Create bills, send invoices, and get paid quickly with Bill.com. The online service includes two-way sync solutions with leading accounting and data tools to automate your accounts payable and accounts receivable functions.
Use a single, integrated platform to automate data entry, detect duplicate payments, collaborate in real-time, and pay bills the way you want, whether ACH, credit card, paper check, virtual check or wire transfer.
Accounting Tech for Retirement Plans
Managing your company-wide retirement plan is a time-consuming task. Eliminate the paperwork and administrative tasks with tools that manage the retirement program and reduce staff time.
Consider the following tool to help manage your retirement plan.
Guideline
Designed to manage retirement plans for small businesses, Guideline integrates with your payroll systems, tracking and syncing data about 401(k) eligibility, deductions management, and government filings. These tools help administer your retirement plan from onboarding throughout the employee lifecycle.
Accounting Tech for Cash Flow Management
Cash flow is at the heart of your business, meaning you need a system to manage cash, allowing you to know where accounts stand and project payments.
Automation gives you more time by eliminating data entry and report creation and more savings as the tools identify areas to improve your cash flow.
Below are a few cash flow management tools to consider.
Cash Flow Frog
Cash flow forecasting is at the heart of Cash Flow Frog. With integrations for QuickBooks and Xero, automated reporting, what-if scenarios, and tools to ensure compliance, Cash Flow Frog helps improve collections and helps businesses make better decisions with a clear picture of available cash.
Float
Gain confidence with real-time reports about your past, present, and future cash flow figures. Float gives you forecasting and scenario planning tools that integrate with leading business software.
CashFlowTool
Make faster decisions, eliminate surprises and explore different scenarios with CashFlowTool. Forecasting, calendaring, and collaboration tools help your teams more effectively manage cash flow. Like other platforms, it integrates with top accounting software tools.
Remote Teams
The past few years have seen a dramatic increase in employees working from home. The tools that allow remote and hybrid teams to connect with each other and customers are essential to how business works today. These tools are another form of business automation that help reduce the manual work strain and drive efficiency.
Automated tools, delivered no matter where employees are located, lets you continue to operate your business as usual while allowing workers the flexibility they need.
Need Help Implementing Accounting Tech?
Knowing which tools to deploy and how they will sync up with each other and existing systems can seem daunting. When you work with an experienced accountant who understands accounting tech, you’ll be ahead of the game – and the competition.Let our tech-savvy accounting teams at Pasquesi Partners help with your technology needs. To learn more, contact us to see how we can help with all your accounting and technology service needs.