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Streamline your finance team’s processes with accounting workflow automation. Learn practical steps, top tools, and tips to save time and reduce errors.
Your finance department holds the keys to smart business decisions. But what happens when they're too busy with manual tasks to look ahead? They become record-keepers instead of the strategic advisors you need. It's time to change that with accounting workflow automation. This isn't just about efficiency; it's about transforming your financial operations from the ground up. By automating accounting workflows, you empower your team to stop processing transactions and start analyzing performance. This article covers how to make that shift, from evaluating software to measuring your return on investment.
Let's talk about accounting workflow automation. At its heart, it’s about using smart technology to handle the repetitive, time-consuming tasks that often fill an accountant's day. Think of it as giving your finance team a super-efficient assistant who takes care of the tedious work, so they can focus on what really matters: strategic planning, financial analysis, and growing the business. It’s not about replacing people, but empowering them to work smarter. By setting up automated systems, you create a more streamlined, accurate, and transparent financial operation from the ground up. This approach helps you get a clear view of your finances, close your books faster, and make decisions with confidence.
So, what does accounting automation actually do? It takes over the manual parts of the job. Instead of someone typing in data from invoices, matching bank transactions one by one, or spending hours building reports in a spreadsheet, software does it for you. This technology is designed to handle high-volume, rule-based tasks with speed and precision. It frees your team from the cycle of chasing down documents and correcting data entry errors, allowing them to apply their expertise to more complex financial challenges. The goal is to shift your team’s focus from doing the books to analyzing them.
An automated workflow is more than just a single piece of software; it’s a connected system designed to make your firm operate more efficiently. The main objective is to create a clear, consistent process for every financial task, from paying bills to closing the books. This is achieved by setting up rules and triggers that guide tasks from start to finish without manual intervention. For example, an incoming invoice can automatically be scanned, coded, and routed for approval. This visibility helps you track progress on all your projects and ensures nothing falls through the cracks. A key part of this system is having seamless integrations between your different financial tools.
To make your automated workflow effective, you need a clear, documented plan that your whole team can follow. This isn't just a simple to-do list; it's the blueprint for your entire financial process. A strong plan includes a detailed checklist for every task, so nothing gets missed. It also assigns a specific owner and a firm due date for each step, which creates accountability and keeps everything on schedule. Finally, it’s crucial to build in review checkpoints for quality control and a way to track the status of each task. This level of documentation turns a loose set of instructions into a reliable, repeatable system that forms the foundation for a true finance transformation.
Implementing automation delivers tangible improvements to your operations and client service. First, it saves a significant amount of time. When routine tasks are automated, your team is free to concentrate on higher-value work. This efficiency directly impacts your bottom line, as less time spent on manual processes means lower operational costs and improved profits. Second, automation greatly reduces the risk of human error. Manual data entry is prone to mistakes, but software performs tasks with consistent accuracy. This leads to cleaner financial data, smoother audits, and more reliable insights for making strategic business decisions.
Not all workflows are created equal, and understanding the difference is the first step toward improving them. Generally, accounting processes fall into two main categories: sequential and state. Recognizing which type you’re dealing with helps you identify the right automation strategy. You might find that your accounts payable process is strictly sequential, while your month-end close involves a mix of both. Mapping these flows out gives you a clear picture of where bottlenecks happen and where technology can make the biggest impact. It’s about finding the right tool for the right job, rather than applying a one-size-fits-all solution.
Think of a sequential workflow as a relay race. Each task has to be completed in a specific order, and one step can't begin until the previous one is finished. This is perfect for processes where tasks build on each other, like preparing financial statements or processing payroll. You have to collect timesheets before you can calculate pay, and you have to calculate pay before you can issue checks. The structure is rigid but ensures that nothing gets missed. The downside is that a delay at any single step can hold up the entire process, creating a bottleneck that affects everything down the line.
State workflows are more like a team project where everyone can work on their part at the same time. In this model, multiple tasks can be done in parallel because they don't depend on each other. A great example is a financial audit. While one person is reviewing accounts receivable, another can be examining inventory records, and a third can be testing internal controls. This approach can significantly speed things up, but it requires clear communication and well-defined roles to make sure everyone knows what they’re responsible for. It’s all about coordinating different moving parts to reach the same end goal efficiently.
The shift toward automation isn't just a trend; it's a strategic response to the growing demands on modern finance teams. Businesses are moving faster than ever, and the pressure to provide real-time financial insights is immense. Manual processes are not only slow and prone to errors, but they also keep talented professionals tied up with low-value administrative work. By automating these routine tasks, firms can unlock their team's potential, improve data security, and deliver the strategic guidance that helps businesses thrive. It’s about building a more resilient, efficient, and forward-thinking finance function.
One of the biggest wins with automation is reclaiming your team’s time. Instead of getting lost in the weeds of data entry, transaction matching, and manual reconciliations, automation handles the repetitive work with precision. This frees your finance professionals to focus on what they do best: high-value analysis, financial forecasting, and guiding business growth. When your team isn't bogged down by tedious tasks, they can dig into the numbers to uncover trends, identify opportunities, and provide the strategic advice that truly makes a difference. This shift transforms the finance department from a cost center into a value-driving engine for the entire organization.
In a world where data breaches are increasingly common, protecting sensitive financial information is non-negotiable. Manual workflows often create vulnerabilities, with data being passed through emails, spreadsheets, and physical documents. Automation tightens up this process by centralizing data within a secure, access-controlled system. This reduces the number of touchpoints and minimizes the risk of human error or unauthorized access. With financial companies experiencing a high number of data breaches, adopting automated systems is a critical step in safeguarding your company’s and your clients’ most valuable information, ensuring compliance and building trust.
Choosing the right accounting automation software feels a lot like hiring a new team member. You need a solution that not only handles the tasks you give it but also fits seamlessly into your company's culture and existing processes. The market is full of options, each with its own strengths. The key is to look past the flashy features and focus on the core functionalities that will actually make a difference in your day-to-day operations. A great tool doesn't just automate tasks; it provides clarity and gives you the confidence to make smarter business decisions. As you evaluate your options, think about which features will solve your most pressing challenges and support your long-term growth.
Let's start with the basics: getting data into your system. Manual data entry is not only tedious but also a major source of errors. Automated data capture is a non-negotiable feature that tackles this head-on. The best tools use technology like Optical Character Recognition (OCR) to scan receipts, invoices, and bills, automatically pulling out key information like vendor names, dates, and amounts. This information is then sent directly to your accounting software, eliminating the need to type everything in by hand. This single feature can free up hours of your team's time, allowing them to focus on more strategic work instead of getting bogged down in paperwork. You can find more helpful tips on our HubiFi Blog.
Once your data is in the system, you need to trust that it's accurate. Smart document processing takes automation a step further by actively reviewing your financial records for you. Think of it as a digital proofreader for your books. This feature can scan for common mistakes like duplicate invoices, incorrect tax codes, or transactions that don't match your company's policies. By catching these issues before a manager even sees them, you ensure your financial data is clean and reliable. This proactive approach is essential for maintaining accurate books, which makes month-end closing smoother and prepares you to pass audits with confidence.
Your business has unique processes, and your software should adapt to them—not the other way around. Custom workflow rules allow you to map out your specific financial processes into standardized, automated steps. For example, you can set up a rule that automatically routes any invoice over $1,000 to a specific manager for approval before payment is issued. This helps you monitor due dates, manage projects, and ensure that every transaction follows your company's protocol. It creates consistency and accountability across your team, which is crucial for scaling your operations efficiently. To see how custom workflows can be tailored to your business, you can schedule a demo with our team.
In business, timing is everything. Waiting until the end of the month to understand your financial position is like driving while looking in the rearview mirror. Real-time reports and analytics give you an up-to-the-minute view of your company's performance. Getting numbers and insights faster helps you make smarter decisions right away, whether it's adjusting your budget, identifying a profitable new trend, or catching a cash flow issue before it becomes a crisis. This immediate access to data transforms accounting from a historical record into a strategic tool for growth. Look for software that offers customizable dashboards and easy-to-understand visualizations to get the most out of your financial insights.
Your accounting software doesn't operate in a vacuum. It needs to communicate with the other tools you use to run your business, like your CRM, ERP, and payment gateways. Seamless integrations are essential for creating a unified system where data flows freely between platforms. When your software connects with your other tools, it helps streamline tasks and makes it easier for different teams to work together from a single source of truth. This eliminates data silos and the manual work of transferring information from one system to another. Before committing to a platform, make sure it offers robust integrations with HubiFi and the other software in your tech stack.
Not all automation tools are created equal. While a generic project management tool might help you organize tasks, it won't understand the specific demands of a finance department. You need software that speaks the language of accounting. This means it should be built to handle the complexities of financial compliance, revenue recognition, and detailed reporting. True accounting automation uses technology to eliminate the manual, repetitive parts of the job, like data entry and reconciliation, with an understanding of the underlying principles. Look for a solution designed to manage intricate processes like ASC 606 compliance, ensuring your data is not only processed efficiently but also accurately and in line with regulatory standards.
A great automation platform does more than just process numbers; it brings your team together. The right software should function as a central hub for all your financial operations, providing clear visibility into who is doing what and when. It should allow you to assign tasks, set deadlines, and track progress on everything from accounts payable to month-end close. This creates a consistent, transparent process for every financial task, ensuring nothing gets missed. An effective automated workflow is a connected system that makes your firm operate more efficiently, reducing bottlenecks and improving collaboration across the board.
The best software for your business is the one that solves your specific problems without breaking the bank. Before you get swayed by a long list of features, take a step back and consider what you truly need. Think about your company's size, the complexity of your transactions, and your budget. The ideal solution should be powerful enough to handle your current workload but also scalable enough to grow with you. As you evaluate your options, look for transparent pricing and a clear return on investment. A tool that saves your team a few hours each week can quickly pay for itself in increased productivity and reduced errors.
Choosing the right software can feel overwhelming with so many options on the market. To help you get started, I’ve put together a list of some of the top automation tools available. Each one has its own strengths, so think about which features align best with your specific business needs. Some tools are excellent all-rounders for small businesses, handling everything from invoicing to bank feeds. Others are highly specialized, designed to solve complex challenges like revenue recognition or to streamline specific processes like accounts payable.
When you're looking at these options, consider the scale of your business and where your biggest pain points are. Are you spending too much time on manual data entry? Is the month-end close a constant source of stress? Or do you need a better way to manage compliance for complex revenue streams? Understanding your primary goal will make it much easier to identify the right fit. It's also crucial to think about how a new tool will connect with your existing systems. The best solutions offer seamless integrations with HubiFi and other popular software, ensuring your data flows smoothly across your entire tech stack. Below is a look at several leading platforms, from comprehensive suites to niche solutions, to help you find the perfect tool for your accounting workflow.
Automation isn't an all-or-nothing switch. You can apply it to specific areas of your accounting cycle where you face the biggest bottlenecks. By targeting these common pain points, you can achieve significant improvements in efficiency and accuracy without overhauling your entire system at once. From managing daily expenses to forecasting future cash flow, there are specialized tools designed to streamline nearly every financial task. Let's look at some of the most impactful areas where automation can make a real difference for your business.
Chasing down receipts and manually entering expense reports is a classic time-waster. Automation completely changes this process. With apps like Dext or Hubdoc, you can simply take a picture of a receipt or forward an email, and the software automatically extracts the important details. It pulls out the vendor, date, and amount and sends the information straight to your accounting software. This eliminates manual data entry, reduces the chance of errors, and gives you a real-time view of company spending. It’s a simple change that can save your team hours of tedious work each month.
Payroll is one of those critical functions where accuracy is non-negotiable, but manual calculations can be complex and prone to error. Automated systems are designed to handle this with precision and speed. Platforms like Gusto can run payroll, calculate the correct taxes, and submit payments in just a few minutes. This replaces the need for manual calculations and check writing, ensuring your team is paid correctly and on time. It also helps you stay compliant with tax regulations without the headache, freeing up your finance team to focus on more strategic initiatives.
Tax season often involves a frantic scramble to gather documents and prepare filings. Automation can bring a sense of order and strategy to this process. Modern tax tools are moving beyond simple preparation to focus on proactive planning. For instance, apps like Corvee and TaxPlanIQ can automate tax planning strategies by importing previous tax returns and identifying opportunities for savings. This shifts the focus from simply meeting deadlines to making strategic financial decisions that can benefit your business throughout the year, turning tax time into a valuable planning session rather than a stressful chore.
The month-end close is a notorious pressure point for finance teams, often involving long hours spent hunting for errors and reconciling accounts. Automation tools can act as a first line of defense, cleaning up your books before the final review. Tools like Dext Precision can automatically scan your financial records for issues like duplicate transactions or unmatched items. By catching these errors early, you ensure the data your team works with is accurate from the start. This leads to a much smoother and faster closing process, giving you reliable financial statements sooner so you can make timely business decisions.
Understanding your future cash position is essential for making smart strategic moves, but creating forecasts manually in spreadsheets is time-consuming and often inaccurate. Automation provides a much clearer and more dynamic picture of your financial future. Tools such as Fathom and Helm can connect directly to your accounting software to create cash flow forecasts automatically. By pulling in real-time data from your accounts receivable and payable, these platforms give you an up-to-date projection, helping you anticipate shortfalls and identify opportunities for investment with confidence.
Identifying financial risks before they become major problems is a key responsibility of any finance department. Modern automation uses AI and machine learning to provide a deeper level of analysis than was ever possible with manual checks. Instead of reviewing small samples of data, tools like MindBridge can scan all of your financial transactions to find anomalies, errors, and potential fraud. This comprehensive approach helps you make better-informed decisions, improve operational efficiency, and strengthen your internal controls, ultimately protecting your business and supporting sustainable growth.
HubiFi isn't your standard accounting software. It’s a specialized solution built for high-volume businesses that deal with complex revenue recognition. If you need to maintain precise compliance with standards like ASC 606 & 944, HubiFi’s Automated Revenue Recognition is designed for you. It works by integrating your disparate data sources to give you a clear, accurate financial picture. This is one of the best AI for accounting tools for companies that have outgrown general-purpose software and require a more robust, tailored approach to their finances. If this sounds like your situation, you can schedule a demo to see how it works firsthand.
QuickBooks Online is a household name for a reason. It’s known for a user-friendly interface and a solid set of features that make it a go-to choice for many small to medium-sized businesses. The platform automates key tasks like sending recurring bills to clients and pulling in transactions directly from your bank accounts. Its reporting features are also customizable, giving you a clear view of your financial health without needing a degree in accounting. For many businesses, it provides a comprehensive foundation for managing day-to-day finances and is one of the most popular tools for automated accounting on the market.
Xero is another major player in the cloud accounting space, offering a full suite of tools with powerful automation. It excels at tasks like automatic bank reconciliation, which saves a ton of time by matching your transactions for you. The platform also simplifies invoicing and tracking expenses on the go. One of its standout features is its emphasis on real-time collaboration, allowing your team and your accountant to work from the same set of books simultaneously. This makes it a fantastic option for businesses that need a flexible, collaborative approach to their financial management.
Specifically designed with small business owners and freelancers in mind, FreshBooks makes accounting feel less intimidating. Its interface is clean and intuitive, focusing on the features you need most, like automated invoicing, expense tracking, and simple time tracking for projects. If you bill clients for your time, this tool is particularly helpful. FreshBooks automates reminders for late payments and makes it easy to see your cash flow at a glance. It’s a great starting point for entrepreneurs who want to manage their finances professionally without getting bogged down in overly complex software.
If you’re already using other Zoho applications, Zoho Books is a natural fit. As part of the larger Zoho ecosystem, it offers strong automation features that integrate seamlessly with the company's CRM, project management, and other business tools. You can set up automated workflows to handle routine tasks, send recurring invoices, and track expenses automatically. This interconnectedness is its biggest strength, creating a unified system for managing your entire business operation, not just your finances. For businesses looking for an all-in-one solution, Zoho Books provides a powerful and cohesive experience.
Bill.com carves out a specific niche by focusing on automating your accounts payable (AP) and accounts receivable (AR) processes. If your team is buried in invoices and payments, this tool can be a game-changer. It streamlines the entire payment workflow, from processing incoming invoices with AI to managing multi-step approval processes and scheduling payments. It also helps you get paid faster by automating customer invoices and reminders. Bill.com integrates with most major accounting software, acting as a specialized layer to handle the complexities of your cash flow and payments.
Wolters Kluwer provides a suite of professional-grade accounting solutions that are particularly popular with accounting firms and larger enterprises. Their tools are built with a heavy focus on compliance, efficiency, and accuracy. The platform offers automation for complex processes like tax preparation, audit management, and secure document handling. It’s designed to facilitate collaboration between accountants and their clients, ensuring that all financial data is managed securely and in accordance with the latest regulations. This is a robust solution for organizations where compliance and detailed financial control are top priorities.
Designed by accountants for accountants, FloQast zeroes in on one of the most stressful times for any finance team: the month-end close. This software is built to automate and manage the closing process from start to finish. It acts as a central hub, providing task management checklists, secure document storage, and clear visibility into where everyone is in the process. FloQast integrates directly with your existing ERP and other systems, pulling everything together to help your team close the books faster and more accurately. It’s an ideal tool for accounting teams looking to bring order and efficiency to their close.
Adopting automation isn't just about getting things done faster; it's about fundamentally changing how your finance team operates for the better. By handing over the repetitive, manual tasks to technology, you free up your team to focus on more strategic work that drives the business forward. Instead of getting bogged down in the day-to-day grind of data entry and reconciliation, your team can become the analytical powerhouse you need to grow. Let's look at the specific ways automation can transform your financial operations from the ground up.
Think about all the time your team spends on manual data entry—keying in invoices, matching purchase orders, and reconciling bank statements. Accounting automation takes over these tedious and time-consuming tasks. It gets rid of the need to manually type in data, match transactions one by one, or chase down documents. With seamless integrations between your bank, CRM, and payment processor, data flows automatically into your accounting system. This not only eliminates a huge source of manual labor but also ensures that your financial data is always up-to-date and ready for analysis.
Even the most detail-oriented person can make a mistake. A simple typo or a misplaced decimal can cause significant headaches down the line, leading to incorrect reports and flawed business decisions. Automation greatly reduces the risk of human error that comes with manual data entry. By creating a consistent, rules-based process for handling financial data, the software ensures every transaction is recorded correctly. This level of precision is essential for trustworthy financial reporting and gives you confidence that you’re making decisions based on accurate numbers, not costly mistakes.
The benefits of automation aren't just abstract concepts; they show up in real, measurable ways. For instance, research shows that accounting firms using workflow automation cut the time spent on manual tasks by at least 50%. Before automation, nearly half of firms spent up to five hours a week just scheduling work, but afterward, over a third spent less than an hour. This isn't just about saving a few minutes here and there. Some users report saving around 27 hours every single month. When you translate that saved time into dollars, the financial impact becomes clear. Less time spent on repetitive work means lower operational costs, which directly contributes to a healthier bottom line and a clear return on investment.
Facing an audit can be a stressful, time-consuming process, especially if your records are disorganized. Automation makes audit preparation much simpler. Because every transaction is digitally recorded and time-stamped, you have a clean, easy-to-follow audit trail at your fingertips. You can quickly pull reports and documentation to demonstrate compliance with accounting standards like ASC 606. This not only makes audits less painful but also helps you maintain compliance year-round, giving you and your stakeholders peace of mind.
What could your team accomplish with an extra 25 hours each month? That's the kind of time savings businesses see after implementing automation. When tasks that used to take hours are completed in minutes, your team’s productivity soars. This reclaimed time can be reinvested into higher-value activities like financial planning, cash flow analysis, and strategic forecasting. Your finance team can shift from being reactive record-keepers to proactive business advisors, providing the insights needed to guide profitable growth. If you're curious to see how much time you could save, you can schedule a demo to see it in action.
When financial information is scattered across different spreadsheets, email threads, and software, it’s nearly impossible for a team to work together effectively. Automation brings everything into one central place, creating a single source of truth for all your financial data. This makes it simple for team members to find the information they need, ask questions, and share updates without having to hunt down the right person or file. By organizing tasks into clear, automated steps for things like approvals or data validation, you eliminate bottlenecks and ensure everyone knows their role. This structured approach helps your team deliver accurate, timely work and fosters a more collaborative and efficient environment.
Your internal processes have a direct impact on your clients. When your team is bogged down by manual work and correcting errors, it leads to delays and inconsistent results. Automation changes that dynamic entirely. By reducing the risk of human error and speeding up processes, you can deliver faster, more accurate financial information to your clients. This reliability builds trust and shows that you are a dependable partner. Happier customers are the natural result of a well-run operation, and providing them with consistently precise and timely service is one of the most effective ways to build lasting loyalty.
As a business owner, it’s easy to get trapped in the cycle of overseeing every detail of your firm’s operations. Automation empowers you to step back. When your financial workflows are standardized and running on their own, your firm can operate efficiently without your constant supervision. This gives you more time for yourself and a healthier work-life balance. By handing over the repetitive tasks to technology, you also free up your team to focus on more strategic work that moves the business forward. This allows you to shift your own focus from day-to-day management to long-term vision and growth.
Picking the right software is about more than just features; it’s about finding a partner for your business’s financial health. With so many options available, the key is to match a solution to your specific needs, challenges, and future goals. This process doesn't have to be overwhelming. By breaking it down into a few clear steps, you can confidently select a tool that streamlines your work and supports your growth.
Before you can fix a process, you need to understand it inside and out. Take some time to map your current accounting workflows, from the moment an invoice arrives to when you close the books each month. Many businesses find their manual processes are inconsistent and time-consuming, but they can’t see the bottlenecks until they write everything down. Document who does what, which tools you’re already using (even if it’s just spreadsheets), and how long each step takes. This baseline assessment will give you a clear picture of what’s working and what isn’t, creating a blueprint for what you need automation to do.
With your current process mapped out, you can easily spot the pain points. Are your teams wasting hours on manual data entry? Are you constantly chasing down approvals? Maybe you’re worried about data quality issues or rising fraud risks. Identifying these common AP automation challenges is crucial because it turns a vague desire for “automation” into a concrete list of problems to solve. This step helps you define your goals. You’re not just buying software; you’re looking for a solution that reduces errors, speeds up your financial close, and gives you more time to focus on strategic work.
Now you can start looking at software with a clear checklist in hand. Instead of getting distracted by flashy features, you can focus on which tool best solves the challenges you identified. Look for a solution with customizable workflows that fit your unique process, not the other way around. Pay close attention to how it handles data capture, reporting, and compliance. Most importantly, consider how it will fit into your existing tech stack. A tool with seamless integrations will save you countless headaches and ensure data flows smoothly between your systems, creating a single source of truth for your financial operations.
The solution you choose today should be able to support your business tomorrow. Think about your long-term goals. Do you plan to expand into new markets, add product lines, or increase transaction volume? Your automation software should be scalable enough to handle that growth without needing a complete overhaul. Look for tools that provide robust analytics and help you track financial key performance indicators (KPIs) in real time. The right platform won’t just automate tasks; it will deliver the insights you need to make smarter, data-driven decisions as you scale. If you want to see how automation can prepare your business for the future, schedule a demo to explore your options.
Bringing automation into your accounting workflow doesn't have to be a massive, disruptive project. The key is to approach it thoughtfully with a clear plan. By breaking the process down into manageable steps, you can ensure a smooth transition that empowers your team and sets your business up for success. Think of it as a gradual upgrade, not a complete overhaul. The following steps will guide you through a simple and effective implementation.
It’s tempting to want to automate everything at once, but that’s a quick recipe for feeling overwhelmed. Instead, start small. Identify one to three repetitive, time-consuming tasks to automate each month. Good starting points are often accounts payable, expense report approvals, or data entry for revenue recognition. By tackling these high-priority items first, you’ll score some quick wins and build momentum. This approach allows your team to adapt gradually and see the benefits firsthand, making everyone more enthusiastic for the next phase. As you get comfortable, you can explore more complex automations and find new ways to streamline your operations in our insights blog.
Before you can successfully automate a workflow, you need to have a clear, consistent process to begin with. Automation excels at handling predictable, rule-based tasks, but it can't fix a process that’s chaotic or inconsistent. Take the time to document your key financial workflows from start to finish. Create a simple checklist that outlines every step, who is responsible for it, and what tools are used. This exercise helps you create a standard operating procedure that ensures everyone on your team performs the task the same way every time. By establishing this foundation first, you make the transition to automation smoother and more effective, minimizing errors and ensuring the new system works as intended.
Implementing new technology takes time, and it’s important to set realistic expectations for your team and leadership. Avoid the pressure to get everything done overnight. Instead, create an achievable timeline that accounts for training, testing, and troubleshooting. Look at how long similar projects have taken in the past and build in a buffer for unexpected delays. A phased rollout, as mentioned earlier, helps make the timeline more manageable. By giving your team enough time to adapt to the new system without feeling rushed, you can manage their workload effectively, prevent burnout, and ensure the long-term success of your automation strategy.
New software is only as good as the people using it, which is why training is crucial. Before you roll out any new tool, communicate the "why" to your team—how it will make their jobs easier, not replace them. Look for automation partners that provide excellent support and training resources. A guided implementation can make all the difference. When your team understands how to use the new system and feels supported, they're more likely to embrace the change. Investing time in proper training ensures you get the full value from your new software and helps everyone feel confident in the new process. You can schedule a demo with us to see how we guide teams through this process.
Automation is not a one-and-done task. Think of it as a living part of your business that needs occasional check-ups. Your business will evolve, regulations will change, and new opportunities for efficiency will appear. Set aside time every quarter to review your automated workflows. Are they still meeting your needs? Are there any bottlenecks? Could they be improved? This continuous optimization ensures your processes remain effective and aligned with your business goals. As you grow, you may need to adjust your workflows or explore new software integrations to keep everything running smoothly. Regular reviews keep your automation strategy sharp and effective.
Before you fully commit to your new automated workflow, it’s crucial to test it thoroughly. Think of this as a dress rehearsal for your financial operations. A practical approach is to run your old manual process in parallel with the new automated one for a short time. This allows you to compare the results side-by-side, verifying that the new system is not only faster but also delivering accurate, reliable data. This step is your final quality check. It confirms the software reduces the risk of human error and prevents small configuration issues from becoming larger problems. Ultimately, it builds confidence and ensures your team is ready for a smooth transition.
When you’re dealing with sensitive financial information, security is non-negotiable. Before committing to any automation software, you need to do your homework on its security measures. Ask about data encryption, access controls, and how the provider protects against breaches. A reputable platform will be transparent about its security protocols and compliance with industry standards. This diligence protects your company, your clients, and your reputation. Choosing a tool with robust security isn't just a best practice; it's a fundamental part of building a trustworthy and resilient financial operation. You can trust that HubiFi's platform is built with the security your financial data deserves.
Switching to an automated accounting workflow is an exciting step, but let’s be real—it’s not always a perfectly smooth ride. Like any significant business upgrade, you might hit a few bumps along the way. From getting your team on board to making sure your new software talks to your old systems, these challenges are normal. The key is to anticipate them so you can move forward with confidence.
Thinking through potential issues ahead of time helps you create a solid plan. The most common roadblocks involve people, technology, data, and rules. As some experts note, internal resistance can stall a project before it even starts, while technical integration gaps can cause major headaches. And if your data isn't clean, your new automated system won't produce the reliable results you're looking for. By preparing for these hurdles, you can ensure your transition to automation is a success that strengthens your financial operations for the long haul.
One of the biggest hurdles in adopting new technology is often the human element. Your team might be used to the old way of doing things and feel anxious about what automation means for their roles. The best way to handle this is with open communication and clear leadership. Start by explaining the "why" behind the change. Focus on how automation will eliminate tedious tasks, reduce errors, and free them up to focus on more strategic work. For more guidance, you can explore some proven change management models to help structure your approach. Involve your team in the selection and implementation process to give them a sense of ownership and turn potential critics into your biggest champions.
Your business already runs on a set of tools, from your CRM to your ERP. The last thing you want is an automation solution that operates in a silo. Integrating new software with your existing systems can be a complex process, so it’s crucial to choose a tool built for connectivity. Before you commit to a platform, map out your current tech stack and identify your must-have connections. Look for solutions that offer pre-built, seamless integrations with the software you already use. This will save you countless hours and prevent the data disconnects that can undermine your automation efforts. A well-integrated system ensures a single source of truth for your financial data.
An automation platform is only as smart as the data you feed it. Inaccurate or inconsistent information will lead to flawed reports and poor decisions, defeating the purpose of your investment. To prevent this, you need to prioritize data hygiene from day one. Start by establishing clear data entry standards for your team to follow. Implement validation rules within your systems to catch errors before they become part of your permanent record. Regularly auditing your financial information is also essential for maintaining accuracy over time. Think of it as routine maintenance for your financial engine—it keeps everything running smoothly and ensures you can trust the insights your new system provides.
The world of accounting is not static; regulations like ASC 606 and IFRS 15 evolve, and your business needs to keep up. An automation tool that can’t adapt to new compliance requirements can quickly become a liability. When evaluating software, ask how the provider stays on top of regulatory changes and updates its platform accordingly. Your automation solution should make compliance easier, not harder. Choosing a partner that prioritizes and understands the complexities of financial reporting standards helps future-proof your business, ensuring you’re always prepared for an audit and can close your books with confidence, no matter what changes come your way.
Once you’ve put an accounting automation system in place, the next step is to make sure it’s delivering on its promise. You didn’t just invest in new software; you invested in a better way of doing business. Measuring your return on investment (ROI) isn't just about seeing a number on a spreadsheet. It’s about confirming that your team is saving time, your data is more accurate, and your financial operations are running smoother than ever before.
To get a clear picture of your success, you need to look at a few key areas. It starts with tracking the right metrics—the specific data points that show change over time. From there, you can calculate concrete time and cost savings, check for critical improvements in accuracy, and see how automation has affected your team’s day-to-day work. By focusing on these elements, you can confidently say whether your new workflow is working and find opportunities to make it even better. This data-driven approach gives you the proof you need to justify the investment and plan your next move for growth.
To understand the impact of automation, you need to know what to measure. Start by establishing a baseline of your performance before you implemented the new system. Then, track these key metrics to see the difference. A great place to start is with process cycle time—how long it takes to complete tasks like month-end close or invoice processing. You should also monitor the error rate to see how often mistakes occur. When you track metrics like these, along with employee productivity and cost savings, you can make informed decisions that continuously improve your financial operations. For more ideas on what to track, you can find plenty of insights on financial reporting and analytics.
One of the most tangible benefits of automation is the money it saves you. To calculate this, start by adding up the hours your team no longer spends on manual data entry, reconciliations, and corrections. Multiply those hours by their wage rate to get a clear dollar amount for labor savings. But don't stop there. Consider other financial gains, like fewer late payment penalties, early payment discounts you can now capture, and faster collections that improve your cash flow. When you compare these savings to the cost of your automation software, you get a clear picture of your ROI. You can explore different pricing models to find a solution that provides the most value for your specific needs.
Manual accounting is prone to human error, which can lead to costly rework and risky compliance issues. Automation is designed to fix that. Your error rate is a direct measure of how reliable your new automated processes are. Before automation, how many invoices had incorrect information? How often did you have to make manual journal entries to fix mistakes? Track the number of corrections your team makes each week or month. A significant drop is a clear sign that your new system is working. This improved accuracy not only saves time but also ensures your financial statements are trustworthy, making audits much less stressful. You can schedule a demo to see firsthand how automated revenue recognition can nearly eliminate errors.
Automation frees your team from repetitive tasks, allowing them to focus on more strategic work. But how do you measure that shift? Look at what your team is accomplishing now. Are they spending more time analyzing financial trends, advising on business strategy, or improving client relationships? Tracking job profitability can show which services are creating the most value, helping your team focus its efforts effectively. True productivity isn't just about doing more tasks; it's about doing more of the right tasks. When your accounting professionals can apply their expertise to high-impact work, the entire business benefits. Seamless integrations between your tools are key to creating a productive workflow where information flows freely.
Accounting automation isn't just about saving a few minutes on data entry anymore. The technology is evolving quickly, becoming smarter and more integrated into the core of how we do business. As we look ahead, automation is set to handle more complex financial tasks, giving you even more time to focus on strategy and growth. It’s about creating a financial ecosystem that runs smoothly, accurately, and provides the insights you need, right when you need them.
The next wave of automation is powered by smarter artificial intelligence. We're seeing a shift from tools that just follow simple rules to platforms that can handle nuanced and traditionally difficult processes. For example, AI-driven systems are now tackling the toughest bottlenecks in accounts payable, automating the entire journey with greater speed and accuracy. This goes beyond just paying bills; it includes smarter purchase order matching and more flexible workflows. This trend extends to other areas, too. Many firms are using workflow automation to create consistent, repeatable processes for client and staff onboarding, turning a once time-consuming manual task into a streamlined experience.
As technology advances, you can expect automation to deliver more than just efficiency. When you implement the right tools, you’ll see measurable improvements in your firm's operations and client services. Automation software makes complex tasks like payroll calculations, cash flow management, and tax compliance much simpler and more reliable. The goal is to create a system where data flows seamlessly between your payment platforms and accounting software. With the right integrations, you can set specific rules for processes like revenue recognition, ensuring your financials are always accurate and audit-ready. This frees up your team to make strategic decisions based on real-time data, not old reports.
With all this talk of automation, it's natural to wonder what it means for the role of the accountant. The good news is that technology isn't here to replace financial professionals; it's here to empower them. By handing off the repetitive, error-prone tasks like data entry and reconciliation, automation frees up your team to focus on what they do best: thinking critically. Their role shifts from being reactive record-keepers to proactive business advisors. Instead of spending their days buried in spreadsheets, they can analyze performance, forecast trends, and provide the strategic insights needed to guide business growth. This transformation turns your finance department from a cost center into a strategic partner that actively drives the company forward.
Is accounting automation going to replace my team? That’s a common concern, but the goal of automation is to empower your team, not replace it. Think of it as giving your financial experts a powerful assistant that handles the tedious, repetitive work like data entry and reconciliations. This frees them from the daily grind so they can focus their skills on what really matters—analyzing financial data, developing business strategy, and providing the insights you need to grow. It shifts their role from record-keeping to strategic advising.
My business is small. Do I really need to automate my accounting? Automation isn't just for large corporations. In fact, it can be a game-changer for small businesses. Tools like QuickBooks Online or FreshBooks are designed to handle the core financial tasks that can easily overwhelm a small team, like invoicing, expense tracking, and bank feeds. By automating these processes early on, you build a strong, scalable foundation for your finances. This saves you time right now and prevents major headaches as your business grows.
This all sounds great, but how much effort does it take to get started? Getting started is more manageable than you might think. The key is to avoid trying to automate everything at once. Begin by identifying one or two of your biggest time-wasters, like processing invoices or approving expense reports, and automate that first. This approach lets you and your team get comfortable with the new system and see immediate benefits, which builds momentum for future steps. A gradual rollout makes the transition smooth and less disruptive.
With so many tools available, how do I know if I need a general tool like QuickBooks or a specialized one like HubiFi? The right tool depends entirely on your business's complexity. General software like QuickBooks or Xero is fantastic for managing the day-to-day finances of many small to medium-sized businesses. However, if your company handles a high volume of transactions or has complex revenue streams that must comply with specific standards like ASC 606, you'll likely outgrow those platforms. That’s when a specialized solution like HubiFi becomes essential for ensuring accuracy, compliance, and clear financial visibility.
How quickly will I see a return on investment after automating? You can see a return in a few different ways, some of which appear very quickly. The most immediate impact is the time your team gets back. When tasks that took hours are done in minutes, that labor savings adds up right away. You’ll also see improvements in accuracy, which reduces the costly process of finding and fixing errors. Over time, these benefits compound, leading to smoother audits, better cash flow management, and more time for strategic planning that drives real growth.
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.
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