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The New Tool Revolutionising CFOs - Automation

Blog

Jan 2021

Let’s face it. The work of a CFO is never done. In the business world of today CFOs are expected to be doing so much more than just bookkeeping. You are juggling variables, monitoring inflows and outflows, keeping an eye on markets and being strategic advisors, all while keeping on top of a never-ending barrage of numbers and percentages. You also have to sleep occasionally! So how can CFOs save time?

Automation

We’re not talking Terminators sent from the future, or cyborgs intent on assimilating the galaxy, but rather a much more helpful form of robotics that can change the function of a CFO for the better.

Like an earthquake, the ripples of automating finance function are being felt around the world of private market finance. Now, more than ever, companies are becoming more streamlined and better advised, and it stems from simple automative processes. Forbes magazine claims that even outside the world of finance, automation is inevitable.

However, automation for CFOs isn’t a far-fetched future, it’s already here! At Accountancy Cloud, we have the latest accounting software for CFOs.

Here we have just FIVE ways how the benefits of automation for CFOs are changing the game.

1 - Quality and Efficiency

Before Robotic Process Automation, information was only as fresh as when someone was in the office. With the correct software, automated processes have now become a member of the workforce, running 24/7. With cutting edge processes installed, numbers are not only consistently updated, but done so to a greater degree of accuracy than ever before!

No more chasing down that missing decimal point in a mountain of financial information! With intelligent automated software, everything is set-up, recorded, and processed in the time it takes to open the office door! Thanks to our many partners, our software can integrate with any services you already use!

2 - Flexible Scalability

We’re past the age of computers simply counting numbers. With intelligently programmed software, programs can now scale up or down depending upon the market’s needs. Clever decision making is key in the fast-paced world of business. Whether you’re planning for a seasonal market, or a sudden surge in demand and automated processes can take control and adjust for those moments when you need it most.

Like monitoring a tidal clock, RPAs can monitor when your markets are surging, and when they’re ebbing. With this flexibility available at your fingertips, your role now includes a greater oversight of the company’s future, and where best to focus on.

3 - Greater Transparency

Finding answers and tracking abnormalities within a company’s finances can be like finding a needle in a haystack. With automation, you’re now putting sensors everywhere within that haystack. You can see exactly when, where, and how things are changing. By using our AI Guide and user-friendly software, you can view in a number of different ways, the changes within different sections of the business. Checking cash flow, net profits, and monthly incomes with a few keystrokes. Numbers do tell the truth about a business, but RPAs can take those unbelievably large silos of data, and create a detailed picture of a company’s finances. And after all, a picture does paint a thousand words.

4 - Priority Changes

You are constantly faced with a list of priorities. Juggling that list in order of importance is part of the daily grind. Bogged down by those niggling accounting tidbits that make you want to put your head through drywall, yet are still an essential part of your daily job.

Necessary, unavoidable, and time-consuming. Until now.

Using the RPAs you can take all those menial tasks off your hands. It’s like hiring an extra member of staff, without the salary to go along with it. Every figure, percentage, and calculation is made, recorded, and presented in an easy-to-use format, so that you can focus on the big picture.

Time is a luxury in the world of a CFO, and suddenly you have the power to use it more productively.

5- Competitive Market

Business is competitive. Even at the best of times, opportunities go by in the blink of an eye. Not only do RPAs solve problems and identify possibilities far quicker and easier than humans, but they’re now also becoming widely used every single day.

Before RPAs, the business world flowed quickly. With more and more CFOs using automation globally, it has become a rushing torrent. The CFO of today must come equipped with the right tools for the business. Luckily we’re here to ensure you’re not left behind. With our up-to-date intelligent software for CFOs available, we can make sure you have everything a CFO needs.

Contact a member of our team today, to get started with our super-smart software!