Oops! Something went wrong while submitting the form.
Sign in
Get a Demo
Talk with an accountant.
Streamline your workflow with accounting process automation. Learn four practical steps to save time, reduce errors, and help your team focus on growth.
For any business with a high volume of transactions, growth can be a double-edged sword. More customers and more sales are great, but they also mean more invoices, more payments to track, and a much higher risk of manual error. At a certain point, you can’t just hire more people to keep up; you need a smarter system. This is the exact problem that accounting process automation is designed to solve. It creates a scalable financial foundation that handles complexity with ease, ensuring accuracy and compliance as you grow. This article will show you how to implement these systems to support your expansion.
At its core, accounting process automation is about using technology to handle the repetitive, manual tasks that take up so much of your finance team's day. Think about all the time spent on data entry, reconciling accounts, or chasing down invoices. Automation uses smart software to take over these jobs, replacing manual bookkeeping with streamlined, automated processes. This isn't about replacing your talented team; it's about equipping them with better tools so they can move from tedious transaction entry to high-value strategic analysis.
Instead of living in spreadsheets and manually cross-referencing numbers, your team can oversee a system that does the heavy lifting for them. This shift is especially critical for businesses with high transaction volumes, where the sheer amount of data can quickly become overwhelming. By automating, you create a more efficient, accurate, and scalable accounting function. This allows your team to focus on what really matters: interpreting financial data to guide business growth, ensuring compliance, and planning for the future. You can find more expert advice on financial operations on the HubiFi blog.
Getting started with automation isn't about flipping a single switch. It’s a thoughtful process built on a few key steps. First, you need to identify which of your current tasks are the most repetitive and time-consuming—these are your prime candidates for automation. From there, you can find the right software that fits your specific needs. The next step is to map out your new automated workflows and ensure they connect smoothly with your other business systems. Strong integrations are crucial for creating a single source of truth for your financial data. Finally, you’ll want to test everything and review performance regularly to make sure the system is working as it should.
Automation transforms the accounting department from a historical record-keeper into a forward-looking strategic partner. By streamlining financial processes and reducing manual errors, it delivers faster, more reliable data. This means you’re no longer waiting until the end of the month to understand your financial position. Instead, you get real-time insights that allow for quicker, more informed decision-making. This efficiency frees your team to focus on analyzing trends, forecasting, and providing the strategic guidance the business needs to grow. It’s a fundamental shift that turns your financial data into a powerful tool for handling what’s next. You can schedule a demo to see how this modernization works in practice.
Bringing automation into your accounting department is about more than just adopting new technology; it’s about transforming your financial operations from the ground up. By automating routine tasks, you free up your team to focus on strategic initiatives that drive growth. This shift allows you to operate more efficiently, make smarter decisions, and build a more resilient financial foundation for your business. Let's look at the specific advantages you can expect when you make the switch.
Think about the hours your team spends on manual data entry, reconciling accounts, or chasing down invoices. These tasks are necessary but incredibly time-consuming. Accounting automation takes over these repetitive processes, completing them in a fraction of the time it would take a human. This newfound efficiency means your team can close the books faster and redirect their energy toward more strategic work, like financial analysis and planning. Instead of just reporting on what happened last month, they can help shape what happens next quarter.
To err is human, but in accounting, even small mistakes can lead to big problems. Manual data entry is prone to typos and other errors that can throw off your financial statements, complicate audits, and lead to poor business decisions. Automation significantly reduces the risk of human error by handling data transfers and calculations with precision. By ensuring your numbers are correct from the start, you build more reliable financial reports and maintain compliance with standards like ASC 606. This accuracy creates a trustworthy foundation for all your financial activities.
Automating your accounting processes can have a direct impact on your bottom line. By reducing the hours spent on manual labor, you lower operational costs. Think of the expenses tied to processing paper invoices or correcting data entry mistakes. Automation minimizes these costs and makes your team more productive. It’s not about replacing your talented accountants; it’s about empowering them. When they can offload tedious work to an automated system, they can focus on higher-value activities that contribute more directly to your company’s growth and profitability.
How long do you currently wait for a clear view of your company's financial health? If you’re relying on manual reporting, you might be making decisions based on outdated information. Automation tools can sync with your other business systems, like your ERP and CRM, to provide a real-time financial dashboard. This means you can access up-to-the-minute data on cash flow, revenue, and expenses whenever you need it. With HubiFi's seamless integrations, you can pull together a complete financial picture, enabling you to manage your money better and make strategic moves with confidence.
So, where can you actually put automation to work? The good news is that you can automate many of the most time-consuming and repetitive parts of your accounting cycle. By handing these tasks over to software, you free up your team to focus on more strategic work, like financial analysis and planning for growth. Think of it as giving your team superpowers to get more done with greater accuracy. From managing invoices to closing the books, automation can touch nearly every corner of your financial operations.
Let's start with the daily grind of money in, money out. Automating your accounts payable and receivable processes can be a game-changer. Instead of manually entering invoice data, chasing down approvals, and cutting checks, automation streamlines the entire workflow. Software can capture invoice details, match them to purchase orders, route them for approval, and schedule payments automatically. This not only saves a ton of time but also significantly cuts down on costs tied to manual processing. Plus, by ensuring timely payments, you can build stronger relationships with your vendors and avoid costly late fees.
Remember the days of stuffing a shoebox full of receipts? Automation makes that a thing of the past. Modern expense management tools let your team snap photos of receipts, and the software uses optical character recognition (OCR) to pull the important data—like the vendor, date, and amount—and categorize it for you. This information flows directly into your accounting system, eliminating tedious manual data entry. It also helps enforce spending policies by flagging out-of-policy expenses automatically, making the entire process faster and more accurate for everyone involved.
Payroll is one of those critical functions where mistakes can be costly and stressful. Automation takes the pressure off by handling the repetitive steps with precision. You can set up software to manage regular payroll runs, calculate taxes and deductions, and account for variables like overtime. This ensures your team is paid accurately and on time, every time. Many systems also offer employee self-service portals for accessing pay stubs and tax forms, which reduces administrative questions and simplifies compliance with tax regulations, making a complex process much more manageable.
Pulling together financial reports can feel like a massive data-wrangling project, especially when you’re gathering information from different places. Automated reporting tools can connect to your various data sources—like your ERP, CRM, and bank accounts—and compile everything into clear, pre-formatted reports. This gives you a real-time view of your financial health without the manual effort. Having access to up-to-the-minute data through seamless integrations helps you make smarter, faster decisions and ensures your financial statements are always ready for review or an audit.
For businesses with high transaction volumes, especially subscription or e-commerce models, revenue recognition is a major challenge. Automation is essential for handling these complexities correctly and staying compliant with standards like ASC 606. An automated system can accurately track and recognize revenue as it's earned over time, even with complex contracts or billing schedules. This not only ensures your financials are accurate and audit-proof but also provides a clear picture of your company’s performance. You can learn more about how to streamline these revenue recognition processes on our blog.
Making the switch to automation can feel like a massive undertaking, but it doesn’t have to be overwhelming. The key is to approach it with a clear, strategic plan instead of trying to change everything at once. By breaking the process down into manageable steps, you can ensure a smooth transition that sets your team up for success. This four-step framework will guide you from initial assessment to full implementation, helping you sidestep common roadblocks and get the most value from your new tools. Think of it as your roadmap to a more efficient and accurate financial future. With a little planning, you can build an automated system that not only handles the tedious work but also provides the insights you need to grow your business.
Before you can fix a problem, you need to understand it completely. Start by taking a detailed look at your current accounting workflows. Map out every task your team handles, from sending invoices and processing payments to closing the books each month. As you go, pinpoint the areas that are the most repetitive, time-consuming, and prone to human error. Are your accountants spending days manually matching transactions? Is your accounts receivable process slowed down by manual follow-ups? Identifying these specific pain points will give you a clear list of priorities and help you understand exactly what you need an automation tool to do.
With a clear understanding of your needs, you can start looking for the right software. The market is full of options, so focus on finding a tool that directly addresses the challenges you identified in step one. Look for a solution that fits your business size, industry, and budget. It’s crucial to choose a platform that offers seamless integrations with the systems you already use, like your ERP or CRM. Don’t just rely on feature lists—read reviews from similar companies and, most importantly, schedule a demo to see the software in action. This allows you to ask targeted questions and confirm it can handle your specific workflows.
A solid implementation plan is the bridge between choosing your software and successfully using it. This is where you create a detailed roadmap with clear timelines, goals, and responsibilities. Start by defining what success looks like. Do you want to reduce your month-end close time by 40%? Or maybe cut down on invoice processing errors? Assign a project lead and clarify who is responsible for each part of the transition. Your plan should outline the key milestones, from data migration to configuring your new automated workflows. This structured approach keeps everyone on the same page and ensures the project stays on track.
Your new software is only as powerful as the team using it. Proper training is essential for a smooth rollout. Walk your staff through the new system, focusing on how it will simplify their tasks and free them up for more strategic work. Once everyone is comfortable, you can begin setting up and launching your automated workflows. But remember, automation isn't a "set it and forget it" solution. You'll need to monitor the system regularly, especially at the beginning, to ensure it’s performing correctly and delivering accurate results. This ongoing oversight helps you catch any issues early and fine-tune your processes over time.
Picking the right software is a lot like choosing a business partner. You want a tool that not only solves your immediate problems but also supports your long-term vision. With so many options out there, it’s easy to get overwhelmed by feature lists and technical jargon. The key is to cut through the noise and focus on what your business truly needs to thrive. Before you even start looking at demos, take some time to map out your current accounting workflows. Where are the bottlenecks? What repetitive tasks are eating up your team's time? Where do errors most often occur? Answering these questions will give you a clear checklist for evaluating potential solutions.
The best accounting automation software isn't just about handling tasks; it's about providing clarity and giving you the confidence to make smart decisions. It should feel like a natural extension of your team, simplifying complex processes and giving you back valuable time. When you find the right fit, you'll spend less time chasing down numbers and more time analyzing them to guide your business forward. It’s a shift from reactive bookkeeping to proactive financial strategy. Let’s break down the essential features to look for so you can find the perfect fit.
When you start comparing software, it’s easy to get distracted by flashy features you might never use. Instead, focus on the core functionalities that will make a real impact. Look for a platform that offers real-time reporting, giving you an up-to-the-minute view of your financial health. For businesses dealing with complex revenue streams, features that assist with tax compliance, like following the ASC 606 standard, are essential. If you operate globally, multi-currency support is a must. The goal is to find a solution that molds to your business, whether it’s a simple cloud-based system or a more robust, installed program.
Your accounting software doesn't operate in a vacuum. It needs to communicate effortlessly with the other tools you rely on every day, from your CRM to your ERP system. A lack of integration creates data silos and manual work, which is exactly what you’re trying to avoid. Before you commit, make sure the new software can work smoothly with your current programs. The right tool will offer seamless integrations that unify your data, ensuring your entire workflow remains connected and efficient. This creates a single source of truth for your financial data, which is invaluable for accurate reporting and strategic planning.
The software that works for you today should also work for you tomorrow. As your business grows, your transaction volume will increase, and your accounting tool needs to keep up without a hitch. Choose a platform that is built to scale with you, handling more data and more complex operations as you expand. Just as important is security. You're trusting this software with your most sensitive financial information, so robust security features are non-negotiable. Look for tools that use modern security protocols like encryption to protect your data and give you peace of mind.
Making the switch to automation is an exciting step, but let’s be real—it’s a big change, and big changes can come with a few bumps in the road. It’s completely normal to feel a little hesitant when you think about overhauling the financial processes you’ve relied on for years. You might be worried about the complexity of the setup, the challenge of moving all your data, or how your team will adapt to new ways of working.
The good news is that these challenges are well-known, and with a bit of planning, they are entirely manageable. Think of them less as roadblocks and more as signposts guiding you toward a more thoughtful and successful implementation. By anticipating these hurdles, you can create a strategy to handle them before they become major issues. We’ll walk through some of the most common concerns—from the initial setup and data migration to team adoption and budget worries—and give you practical steps to keep your automation journey smooth and on track.
The idea of implementing a new system can feel daunting, but it doesn’t have to be a complicated ordeal. The key is to break the process down into small, manageable steps instead of trying to tackle everything at once. Start by mapping out one specific workflow you want to automate, like invoice processing. Once you’ve successfully automated that single task, you can move on to the next. With the right tools and support, you can move forward confidently. If you’re unsure where to begin, scheduling a demo with an expert can help you create a clear, step-by-step plan tailored to your business.
Getting your historical data into a new system and making sure it connects with your existing software can feel like a huge puzzle. The secret is to take a phased approach. You don’t have to move everything over in one weekend. Start by migrating a small, recent batch of data to test the process and work out any kinks. It’s also crucial to choose a platform with robust integration capabilities that can easily connect to your ERP, CRM, and payment gateways. This ensures a smooth flow of information from day one and prevents you from having to build costly custom connections down the line.
One of the most critical parts of a successful transition is getting your team on board. Some employees may worry that automation is here to replace them. It’s important to communicate openly about how these new tools are designed to help, not hinder. Frame automation as a way to eliminate repetitive, manual tasks, freeing up your team to focus on more strategic work like analysis and problem-solving. Provide thorough training and create clear documentation they can refer to. When your team understands the "why" behind the change and feels supported, they’ll be much more likely to embrace the new system. You can find more insights in the HubiFi blog on improving financial operations.
Misconceptions about automation can create unnecessary hesitation. One of the biggest myths is that it requires a massive upfront investment that only large corporations can afford. In reality, many modern automation solutions are scalable and have flexible pricing information, making them accessible for businesses of all sizes. The efficiency gains and error reduction often lead to significant cost savings that provide a quick return on your investment. By focusing on the long-term value, you can see that automation isn’t just a cost—it’s a strategic investment in your company’s growth and stability.
While just about any business can find value in automating financial tasks, some industries feel the impact almost immediately. If your company deals with high transaction volumes, complex billing cycles, or detailed project tracking, automation isn't just a nice-to-have—it's a game-changer. These systems handle the repetitive, detail-oriented work that can slow down growth and introduce human error. From SaaS startups to established manufacturing firms, the right tools can transform how you operate, freeing up your team to focus on strategy and analysis instead of getting bogged down in manual data entry.
If your business processes thousands of transactions daily, you know how quickly manual accounting becomes a bottleneck. Industries like fintech, media, and telecommunications depend on managing massive amounts of data accurately. Automation is a "fundamental transformation" for these companies, turning overwhelming data streams into manageable, error-free financial records. Instead of spending weeks on reconciliation, your team can close the books in days. This is where Automated Revenue Recognition becomes essential, ensuring every dollar is accounted for correctly and compliantly, no matter the volume.
E-commerce and subscription models are built on recurring transactions. Managing monthly payments, refunds, and sales tax across different regions creates a huge administrative load. Automating accounts payable and receivable can "significantly decrease costs associated with manual invoice processing." It also simplifies the complexities of ASC 606 compliance for subscription revenue. With the right integrations connecting your storefront, payment processor, and accounting software, you can create a seamless financial workflow that scales with your customer base and gives you a real-time view of your financial health.
In manufacturing, success depends on managing complex supply chains, inventory costs, and multi-layered invoices. Automation streamlines everything from purchase orders to payments, providing a clearer picture of production costs. For professional services like consulting or law firms, the challenge is accurate time tracking and project-based billing. Automation connects timesheets directly to invoices, reducing revenue leakage and speeding up the payment cycle. In both fields, automation helps firms stay "more competitive and can help attract talent" by letting skilled professionals focus on their core work, not administrative headaches.
Switching to automation can feel like a huge project, but it doesn’t have to be overwhelming. With a smart approach, you can make the transition smooth for your team and set your business up for success. The key is to be deliberate and strategic. Here are a few best practices to guide you.
The fastest way to get frustrated with automation is by trying to do everything at once. Instead, think of it as a gradual process. A great starting point is to create an automation roadmap that outlines your plan. Pick just one to three repetitive tasks to automate each month, like invoice processing or initial data entry. By starting small, you give your team time to adjust to the new tools and workflows without feeling overwhelmed. This methodical approach allows you to work out any kinks on a smaller scale before you expand automation to more complex financial operations.
Automation is incredibly powerful, but it’s not meant to run without any oversight. The goal isn’t to replace your talented team but to free them from tedious tasks so they can focus on more valuable work, like financial analysis and strategy. Your automation system should act as a partner, flagging any unusual transactions or discrepancies for a human to review. This creates a powerful safety net, combining the speed of technology with the critical thinking of your finance professionals. This approach ensures accuracy and helps your team do more valuable work than ever before.
When you're dealing with sensitive financial information, security is non-negotiable. As you evaluate different tools, make data protection a top priority. Look for software that offers robust security features, like end-to-end encryption, to safeguard your data from unauthorized access. Your chosen platform should also support your compliance needs, especially for complex standards like ASC 606. A reliable automation solution will not only protect your data but also help you maintain accurate records for audits. At HubiFi, we build our solutions with security and compliance at their core, ensuring your financial data is always protected.
You’ve put in the work to automate your accounting processes, but how do you know if it’s actually paying off? Simply feeling like things are running smoother isn't enough. To truly understand the impact of your new system, you need to measure it. Tracking the right metrics shows you exactly where you're winning and where you might need to make a few adjustments.
Measuring success isn't just about justifying the initial investment; it's about making sure your automation continues to serve your business as it grows. By regularly checking in on performance, you can prove the value of your efforts, make data-driven decisions, and ensure your team is getting the most out of the new tools. This process helps you move from simply having automation to using it strategically for long-term financial health.
To gauge the success of your automation, you need to track specific, measurable values known as Key Performance Indicators (KPIs). These aren't just vanity numbers; they're direct indicators of your system's health and efficiency. Start by looking at the time it takes to close your books each month. A significant reduction here is a clear win for automation.
Also, monitor the processing time per invoice or transaction. How quickly are you moving from receipt to payment? Another critical metric is your error rate. Automation should drastically reduce manual mistakes, so tracking a decline in errors provides concrete proof of improved accuracy. You can find more ideas for relevant metrics in our Insights blog. Regularly monitoring these KPIs will give you a clear picture of how automation is transforming your financial operations.
Calculating the ROI of your automation goes beyond comparing the software cost to the salaries of the roles it replaced. A true ROI analysis considers the full financial impact. Start by quantifying the reduction in employee hours spent on manual tasks. Then, factor in the increase in productivity—what is your team now able to accomplish with their freed-up time?
Don't forget to include the financial benefits of enhanced accuracy, like fewer late payment fees or billing errors. When you combine these savings and productivity gains, you get a much clearer picture of your return. This analysis helps you understand the true value your automation system brings to the table. Considering the investment side of the equation is simple with HubiFi's straightforward pricing information.
Automation is not a one-and-done project. To get the most out of your system, you need to treat it as an ongoing process of refinement. Regularly review your KPIs to see what’s working and what isn’t. Are there bottlenecks you didn't anticipate? Are there new processes you could automate?
Use your data to make informed adjustments. For example, if you see that a certain workflow is still taking too long, you can dig in and see how it can be improved. This continuous monitoring ensures your automated system evolves with your business. If you need help identifying areas for improvement or want to explore what else is possible, you can always schedule a demo with our team to discuss your specific needs.
Is accounting automation going to replace my finance team? Not at all. This is a common concern, but the goal of automation isn't to replace people; it's to empower them. Think of it as taking the tedious, repetitive tasks off their plate—like manual data entry and reconciliations—so they can focus on the strategic work that truly drives the business forward. Your team's expertise is in financial analysis, forecasting, and planning, and automation gives them more time to do just that.
My business is still small. Is it too early to think about automation? It's never too early to build a strong foundation. In fact, implementing automation when you're small can be one of the smartest moves you make. It sets you up with efficient, scalable processes from the start, so you don't have to overhaul everything when you hit a major growth spurt. Many modern solutions are flexible and can grow with you, ensuring you can handle increasing transaction volumes without having to constantly hire more staff for manual work.
What's the most important thing to look for when choosing automation software? While features like reporting and compliance are crucial, the single most important factor is integration capability. Your accounting software needs to communicate seamlessly with your other business systems, like your CRM and ERP. Without strong integrations, you end up creating data silos and manual workarounds, which defeats the whole purpose of automation. A well-connected system creates a single source of truth for your financial data, which is essential for accuracy and making smart decisions.
How do I get my team on board with such a big change? The key is open communication and focusing on the "why." Explain that the goal is to eliminate their most frustrating tasks and free them up for more engaging, high-impact work. Involve them in the process by asking for their input on which processes are the most painful and what they'd like to see improved. Providing thorough training and ongoing support is also critical to help them feel confident and comfortable with the new tools.
What's the very first, most practical step I should take to get started? Don't try to boil the ocean. The best first step is to simply map out one of your current accounting processes from start to finish. Pick a task that you know is time-consuming, like accounts payable. Write down every single step involved. This simple exercise will immediately highlight the bottlenecks and repetitive actions that are prime candidates for automation, giving you a clear and focused starting point for your journey.
Former Root, EVP of Finance/Data at multiple FinTech startups
Jason Kyle Berwanger: An accomplished two-time entrepreneur, polyglot in finance, data & tech with 15 years of expertise. Builder, practitioner, leader—pioneering multiple ERP implementations and data solutions. Catalyst behind a 6% gross margin improvement with a sub-90-day IPO at Root insurance, powered by his vision & platform. Having held virtually every role from accountant to finance systems to finance exec, he brings a rare and noteworthy perspective in rethinking the finance tooling landscape.
Meet with an expert in revenue recognition and order-to-cash accounting and automate revenue close.
*Or watch 2 minute demo here.
Power your high-volume business's revenue compliance and reporting needs with one platform.
