How to Leverage Technology to Better Manage Accounting Capacity
How to Leverage Technology to Better Manage Accounting Capacity
As an accounting firm, you understand the importance of capacity. After all, it measures how much you can achieve within a given time period and can play a vital role in your ability to grow. If your current capacity interferes with customer or lead expectations, technology may be there to help. Here are some tips on how to leverage technology to better manage your
accounting capacity.
Better Manage the Ebbs and Flows of Labor Markets
Labor market ebbs and flows are a reality in the accounting industry. When you’re facing labor shortages or struggling to recruit or retain talent, technology may be a solution. While we don’t believe technology will replace people, we do believe it will allow people to be more efficient and effective. It may help automate some of the repetitive, manual tasks that your employees typically complete and take some of the burden off your current workforce. This can include data entry, sales outreach, data entry, contracts, etc. Gaining this efficiency allows you to reduce the need for additional staff, therefore expanding the capacity without adding additional team members.
Improve Margins and Staff Planning
If
you’re looking to scale, hiring more employees may be your first thought. Sometimes, however, all it takes is the right technology. Technology and automation can allow you to scale up without exponential effort and expense. More often then not, if you’re able to leverage technology and
automation for some of the repetitive and tedious tasks, your not only able to reduce rework and errors, but also able to complete the work in a more cost efficient manner.
Here's What We Can Do For You
Begin with Process Mapping
A process map is a tool used to visually depict the flow of work as well as the steps, tools, and people involved in a process. Some of our favorite process mapping tools are Miro and Lucidchart. By creating a process map for all of your processes, you can more easily identify where you might benefit from technology and automation. While process mapping will take some time and effort, it forces you to understand the entire process before you begin trying to chip away at automations. This helps to define a scalable and effective solution before getting too far in the process.
Find the Right Technology
Once you know how technology and automation can support your firm, it’s time to shop around and find the right tool or platform. Fortunately, there are many options that can help you fill your capacity and capability gaps. GrowthLab’s AppStream subscription provides the process mapping, along with the automation development and maintenance as part of an all-in-one package, allowing you to get direct access to some of the best tools in the industry.
Ready to Automate Your Firms Workflow?
AppStream by GrowthLab can help you automate your workflow and the flow of information without changing applications or processes. Learn more today!
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