One of the more noteworthy developments in the accountancy sector in decades, Cloud accounting is becoming increasingly prevalent. Such is the impact of the Cloud, we are beginning to see accountants shift into more of an advisory role.
Whilst the use of the Cloud and online accounting by businesses is growing, some clients still approach this process of managing their commercial finances with a degree of trepidation.
Many still prefer the hands-on and personal nature an accountant provides. That’s fine, however, it’s a mistake to assume that client trust cannot be built with the consistent use of Cloud-based platforms. Cloud accounting is garnering a stellar reputation for streamlining business processes and making it easier than ever before for businesses to manage their commercial finances.
Here are just a few of the ways that Cloud accounting and other online expense management processes, such as apps with receipt OCR, are becoming increasingly favourable to commercial
Enhanced Convenience and Accuracy
Historically, businesses depended on their accountants to provide them with a meticulous overview of their accounts, whilst assisting them in making financial forecasting decisions. This was integral to the long-term strategy and success of any business. The advent of Cloud accounting has changed this.
Keeping on top of your commercial finances requires more than a weekly check of your account statements and monthly visit to your accountant. It requires a more considered and consistent approach. This is precisely what Cloud accounting precipitates.
In addition, regardless of the education, experience, intention, and level of concentration, human error is hard to avoid – and can be evident in an accountant’s work – we’re all human after all. Using an app with efficient receipt API and Cloud-based capabilities and meticulous data extraction eradicates human error, ensuring that all your accounts are accurately kept.
If we’re honest, most of us would say that the most important part of expense management is the reimbursement. Using an integrated expense management software platform makes reimbursing employees as simple as clicking a few buttons!
No longer to reimbursees need to search their wallets, pockets and desk drawers for receipts, before handing them over to an accountant or bookkeeper and waiting for their expenses to
In addition to keeping people happy, the receipt OCR employed on leading expense management platforms is pinpoint accurate, able to read receipts line by line and identify individual and total expenses with ease.
The process is also essential to running accurate expense reporting, allowing businesses to keep check on the expenses – and can be uploaded to the Cloud to be saved securely.
Employing the Latest Technology
Clients and employees have faith in their colleagues and employers because they trust that the decisions they make are for the betterment of the working environment and ongoing relationships.
Now, there is a wealth of ways that positive professional decisions can affect those you value, but one way to instill confidence is to ensure that clients and colleagues have the tools needed to excel in their own roles – and work in an environment they have great confidence in.
Cloud-based receipt API programs demonstrate that a business is dedicated to employing the latest technology for their employees have access to the right tools to efficiently complete the varied duties of their role without any unnecessary distractions. This can then be promoted to clients who will immediately notice the dedication and innovation demonstrated by your business – and may even reinforce their instinct that choosing your business was the right decision.
These are just some of the ways that you can build professional trust with receipt OCR and Cloud accounting. If you’d like to learn more about AISCAN, a notable Cloud-based receipt scanning API, click the “Email Us” button.