As I planned for 2019, I included an initiative that was one of the most important we’ve ever set for ourselves: To learn more about cloud-based technology, integrate it into our company, and recommend more programs like it for our clients.
Why? I strongly believe that bookkeeping will become a dinosaur unless we adapt to the implications of cloud-based tech and AI. The good news is, I have an incredible team of people who are ready to embrace change.
One of the new platforms we’ve adopted is Bill.com. Here’s what we’ve accomplished so far.
Bill.com provides cloud-based software that automates back-office financial operations. The company’s AI-enabled platform creates connections between businesses, their suppliers and clients to help manage cash flow.
The program’s online business payment solutions impressed us. We wanted to create and maintain an online process that included bill entry, bill review, and approval. Bill.com allows for multiple users with different roles. The “roles” can be different for each client. Ultimately, it allows for someone (us or the client) to enter bills and approve them online.
According to Salesforce.com, many businesses still spend 23% of workdays manually managing processes. “Manual” is a four-letter word to us, so we were attracted to the automation potential of Bill.com. The program allows us to scan bills to input data such as vendor name, due date, invoice number, etc. There’s less human error and it’s been a game-changer. Additionally, Bill.com provides easy integration. It syncs with QuickBooks and Xero so that all bills and payments upload directly into our accounting software.
In future editions of this blog, I’ll continue to share our experiences fulfilling our technology initiatives. I hope it inspires you to reach out to me as well. If you have a business that could benefit from this kind of automation or are in a firm that needs to evolve with the future bookkeeping, I’m here to help and consult.