THE EVOLUTION OF OUTSOURCING TODAY IN 2020 (PART 2 OF 4)
Automation is upon us and many wonder whether this will be a detrimental process.
Will machines take over the role of human responsibility and subsequent job loss?
The thing is we are not yet close to a Matrix situation and even in this situation, machines are still dependant on factors that could render them useless if not available.
One must remember that automation is not an automatic process in its entirety. The process requires human interaction on a level where humans are known as operators, having to start and maintain an efficient process, which still requires a high level of skill and interpretation of reports and analytics.
We are not obsolete yet.
As an example, let’s look at a gardener. While irrigation systems are automated and even lawn cutting devices to an extent, the human touch of trimming bushes, trimming roses and planting new plants is still very much a human activity.
That being said, let’s look at the benefits of automation within the accounting industry:
Time and money savings. Definitely the most important pull factors when it comes to automation. Start-up requires input on information on many levels. Once this is done though, it never has to be done again. This is where time-saving comes in. Money-wise… The use of an individual accounting form outsourcing services to international clients surpasses the need for a permanent employee.
Accuracy… We are human and we make mistakes yet in a situation when dealing with a client’s bottom line, this is just not an option. Ever. The automated process pushes out accurate figures in a fraction of the time so business owners are always on top of their financial situation which in turn assists with business growth decisions.
A better understanding of accounting… Financial management applications are based on the centuries-old double-entry accounting method, of debits and credits which can become complex. Automation focuses on simple sales and purchases. What is coming in versus what is going out. Easy and effective.
Thorough, customizable reports… Reporting and analysis are time-consuming. Very time-consuming. Who has paid? Who hasn’t and how many days are they in arrears? These and other functions are handled seamlessly through automation so one can immediately contact the non-payers and bring in outstanding payments and identify the on-time payment suppliers, thereby offering incentives such as discounts or shorter payment periods as these are the more stable and trusted individuals.
The debate will always rage on whether automation is a good or a bad thing, although this is mostly seen from a human point of view. From a business point of view, it means time saved to focus on clients and a positive impact on the bottom line.
The bottom line is the bottom line and the bottom line is that it’s a no-brainer.