Technology has come a long way since Microsoft introduced Excel in the 1980s, and accounting and finance professionals’ roles have changed as technology evolved. With automation and AI features in today’s accounting platforms, reporting is easier than ever. There is less opportunity for manual error, and in many cases, data can be presented in real time. There’s even been a phrase that has spawned for all this innovation, fintech.
With the right financial reporting platform, you can expect to automate, streamline processes, stay competitive, and even become a leader in your industry.
Automate and streamline processes
One component technology brings to financial reporting is the ability to automate traditionally manual processes. This not only saves time, but reduces the margin of error significantly. Automation takes the guesswork out of number crunching, and gone are the days of spending hours sifting through formulas in complex Excel spreadsheets to find the one error that throws off the whole report.
Automation also provides the added benefit of streamlining processes. Accounting department staff can spend their time tending to the more human side of the equation–strategic and advisory services–leaving the software to do what it does best.
Stay competitive in an evolving market and lead in your industry
Because technology allows your team to save time, the business can shift its focus to providing value in other arenas. In today’s evolving market, more and more folks are looking for accountants that specialize in strategy or are well-versed in the various technology offerings.
Being able to speak to those sides of the business keep your firm competitive, even as a smaller business with fewer staff and resources. The right technology can boost your reputation as a speedy and accurate operation, and trustworthiness like that is what will help you grow and maintain your business, and propel you towards leading industry innovation.
FYIsoft provides the technology tools your company needs
The right technology makes your financial reporting faster, more accessible, and more accurate, and FYIsoft has you covered.
The talented team behind FYIsoft has decades of experience in areas including enterprise resource planning, finance and accounting, and information technology. The end result is software that is truly designed to make life easier for FYIsoft clients.
Founded in 2012, FYIsoft has quickly grown into a leading provider of cloud financial reporting software. Over 8,500 finance professionals around the world rely on FYIsoft for a faster close. FYIsoft is SOC 2 certified, ensuring that the security, integrity and processes of the company meet the stringent standards established by the internationally-recognized AICPA.