How Cloud Accounting Can Help Eliminate Waste and Improve Efficiencies

How Cloud Accounting Can Help Eliminate Waste and Improve Inefficiencies

Cloud-based accounting software companies like FYIsoft are gaining popularity in the marketplace. Accounting professionals are finding that cloud-based accounting services can eliminate waste and improve inefficiencies, making for cleaner, more accurate financial records as well as significant cost savings for the organizations using these services.

Among the many benefits of cloud-based accounting that help eliminate waste and improve inefficiencies are automation, error minimization, and the ability to collaborate 24/7.

Automation of manual accounting processes

Arguably one of the biggest draws to implement cloud-based accounting software is the automation of processes that were once tedious and time consuming. By automating tasks that were once manual, accounting professionals can spend more of their time strategizing and less of their time on frustrating manual workflows. Organizations can benefit from automation in many ways, including cost savings, improved quality of data, and enhanced decision making.

Error minimization and improved data accuracy

One of the other key benefits of automation is improved data accuracy. Manual data entry tools are highly susceptible to human error, especially when data is manually keyed in from one system to another, but cloud-based technology solutions eliminate the need to manually input data. Not only does this lack of manual data entry save time, it also increases the quality and accuracy of data.

Collaboration among departments

You don’t need clunky software installed on your machine in order to access your financials. With cloud-based accounting solutions, data is available 24/7 from virtually any device with an internet connection. This allows team members to collaborate efficiently across departments with the assurance that the data all teams are accessing is the most current and most accurate data available.

In addition to automation, more accurate data, and collaboration, cloud-based solutions from FYIsoft also offer: faster period close, easier and more efficient report generation, and ROI in as little as eight weeks.

The bottom line

Financial reports provide the data and insight from which all business decisions are made.

For today’s finance teams, it is crucial that those reports be accurate, easy to produce, and board-ready at a moment’s notice. FYIsoft’s cloud-based accounting solutions offer these key benefits and many more.

FYIsoft is committed to delivering the best available cloud financial reporting software, specifically designed to integrate with your GL system and dramatically improve reporting processes, even in the most complex financial environments.

FYIsoft cloud-based solutions also offer:

  • Multiple GL systems – FYIsoft standardizes data so you can integrate with as many GL systems as needed, saving weeks if not months of time.
  • Currency conversions – For multi-national companies, FYIsoft automates currency conversions, greatly simplifying the consolidation of global financials.
  • Multiple entities (companies, branches, divisions, franchises) – Companies that generate 100+ reports every month find huge relief with FYIsoft. Our software can slice and dice any distributions needed, giving you confidence that you’re delivering the right data to the right people.