Press Release (ePRNews.com) - TORONTO - Jun 11, 2018 - The experts at Toronto-based Virtuous Bookkeeping say that for businesses to improve efficiency and customer service, modernizing their accounting functions through the use of cloud-based technology is key.
According to Hubdoc, automation is a top accounting trend this year. Automating your accounting functions is an integral component to improving the customer experience. Their findings indicate that in comparison to ‘price and product/service’, the customer experience for B2B businesses will become a ‘key differentiator’ by 2020. Clients are seeking blended service of human interaction and technology to provide them with ‘proactive advisory services’.
“We recognized from the beginning that technology would continue to influence how customers preferred to access their information and interact with their bookkeepers. Clients essentially want optimized solutions that save them time and money and this movement from paper trail to digital does that,” says Rahul Maingi, financial reporting manager, Virtuous Bookkeeping.
We recognized from the beginning that technology would continue to influence how customers preferred to access their information and interact with their bookkeepers. Clients essentially want optimized solutions that save them time and money and this movement from paper trail to digital does that.
Automation enables bookkeepers to ‘become better advisors’ and equips them with solutions necessary to improve the customer experience. An example of how automation is being integrated into accounting practices is through the use of cloud-based management systems. Companies benefit from these solutions by seeing improvements in:
“Cloud-based technology from an accounting standpoint means that storage and usage are conducted online. It streamlines the documentation-sharing process and enables us to offer our trusted clients with a more personalized service. It also compliments this growing trend of remote accessibility.”
Another example of how companies can automate their bookkeeping or accounting services is through mobile accounting. These applications provide clients with 24/7 remote access to their financial information. Research found that businesses most commonly use these apps to:
- Payroll Management
- Bank Reconciliations
- Submission of expenses
- Invoice management
“Mobile applications make it significantly easier for our clients to provide us with their information in real-time. From snap-shots of receipts to being able to monitor their financials abroad, technology is facilitating efficiency and improves the customer experience.”
About Your Virtuous Bookkeeping
Virtuous Bookkeeping provides outsourcing solutions to small and medium-sized businesses. Services provided include payroll processing, bookkeeping, credit card reconciliation, financial reports and invoice processing. The team has more than 30 years of combined experience in accounting and business process outsourcing. Virtuous serves more than 500 clients nationwide. Source :