We will all agree to the fact that the various digitized platforms have made it quite easier for companies to approach customers. And, when combined with disruptive technologies such as Automation & Artificial Intelligence, businesses can efficiently use diverse platforms to increase sales, generate healthy leads and improve the conversion rate.
Gaining competitive advantages have become a great challenge for business. With technologies continuously evolving, markets volatile, customers becoming tech-savvy and the changing government policies, for instance, implementation of the VAT (Value-Added Tax) — put businesses in the doldrums.
“No Business is Too Small for ERP Systems”
Businesses, which fall in the small-to-medium size range, often excuse themselves from implementing ERP systems by simply claiming their companies are too small for such systems. To put such misconception aside, research has shown that smaller businesses have a better chance of growing and competing in the market share due to their flexible business structure and agility.
Continuously evolving technologies have rapidly changed everything for businesses all over the world. The way today accounts are being managed, advertisements are being made, customers are being approached and also the way competition challenges are being dealt with, the business functioning style has completely transformed.
Companies are embracing technologies such as Business Process Management (BPM) software and transforming the way processes function. Many of the advanced BPM software, for instance, VCA (Value Creation Automation) or Microsoft Dynamics, are enabling business firms in streamlining entire tasks and activities pertaining to business, both inside and outside.
Did you know that over 65% of small businesses outsourced tax preparation and payroll tasks?
This staggering number shows just how many business owners spend extra money on outsourcing crucial accounting tasks to outsiders. This may seem like a great way to optimize processes and keep your accounting books in sync. But the truth is, businesses often don’t have the enough manpower or skill to manage finance.
Keeping your balance sheets in order, managing individual transactions on a day-to-day basis, updating accounts, manual data input, all such tasks which fall within the core function of business finance can turn out to be a nightmare if left to a manual workforce. And it would be wrong to overburden your accounts staff and to expect them to be 100% accurate with the numbers, every single time. So, if you wish to stick to this outdated way of handling your accounting processes, expect delays, inaccuracies and a tangled team.
Not many years ago, companies maintained a team of experts in finance and accounting department to manage entire financial operations. But despite that, accuracy has always been questioned. These days when the evolving technologies have completely changed the face of businesses, companies need perfection, precision and complete accuracy to gain competitive advantages.
With the super-fast changing technologies and continuously increasing competition level, maintaining so much of data manually is next to impossible. There are organizations, which process a huge amount of data on a daily basis and therefore every time inaccuracies and errors add to companies’ operational costs. Therefore, businesses across the world are bidding an adieu to traditional measures of bookkeeping. To catch up with the rapidly changing pace of, businesses, small or larger, are embracing advanced financial automation solutions such as Value Creation Automation (VCA).
For a long time, companies had to maintain accounts and financial transactions manually and on paper. Even to this date, there are many businesses, which are using various old and traditional methods of keeping accounting and financial records. But with technologies enhancing at such an unprecedented speed, many businesses across the world have started embracing advanced automation solutions to manage the accounting and financial process.
Financial automation solutions are designed to take businesses beyond the mess of accounting files, inefficiencies, and inaccuracies. VCA finance is one such world’s leading business automation solution, which is designed with proven technological models. Value Creation Automation (VCA) enables different business segments in gaining efficiency and utmost accuracy while keeping financial and accounting transaction records.
It is an age where computers are designed to interpret human language and take the desired action, where cognitive ability has turned out to be a reality and where humans are bound to adapt with programmed machines. It is the age of automation, which is enabling businesses in performing tasks and other activities with perfection, precision, and accuracy.
Enterprises, be it small, medium or large, are left with no other option but to automate tedious business processes such as finance and accounting. Performing such tasks manually keeps the error-rate high and leads to various complexities in performing business activities. It involves a lot of paperwork, time, money, and other resources. Moreover, when ledger books are filled manually or any other accounting activity is being performed, chances of errors increase and it also results in delays. Reports are not up to the mark and accessibility of important financial data and statements is restricted.