It is a known fact that in the current economic climate many businesses are increasingly focused on cutting costs and improving revenue. One might wonder if the use of technology can help improve company’s cash flow in these times of need or is it just an unnecessary expense adding to the crisis.
There are various software programmes used by companies however the most common software programme used in a multitude of industries relates to accounting and eProcurement.
Accounting software can range from basic off the shelf packages to full bespoke solutions. Many small companies opt for off the shelf packages without realising their limitations, as companies grow so do their accounting needs.
EProcurement is a term that refers to the full purchase to pay cycle whether it is from businesses to consumers or business to business.
Most businesses whether they sell products or not can benefit from up to date eProcurement software as every company has bills and suppliers and procedure in place to authorise these payments.
By combining specialised accounting software and eProcurement software you can streamline processes in order to improve efficiency and cut costs. One way in which this happens is through reducing paper flow. The main way to reduce paper flow is by automating certain processes such as expenses and invoice payments. The majority of companies have a payments policy that means that written paperwork needs to be physically signed off by a number of individuals. This process can be changed to allow users to submit and sign off payments online through secure software.
Accounting software also reduces the need for paper based files as manual data entry is kept to an absolute minimum which also reduces mistakes and ensures that any necessary reports and accounting information is completely on hand at a click of a button.
Both accounting software and eProcurement software frees up time that your staff had previously spent on labour intensive tasks and allows them to complete more productive activities which can save many companies money in terms of staffing costs.
iSoft Business Solutions supply accounting software and eProcurement software to a number of industries, they also create bespoke solutions to target individual business needs.
With over 30 years experience iSoft business solutions have a proven track record and a passion for software. They employ specialist business solutions experts who are on hand to help you throughout your integration.
It can defiantly be said that by carefully introducing certain technologies with many business you can quickly and easily cut costs and improve revenue.