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How leveraging the cloud can save time and improve work-life balance

Jonathan Carter, CPA, CMA of KATA Accounting Solutions PC explains how using integrated online applications can help you to save time

Time management is often a topic that is pushed aside for many small business owners. Making it a priority and integrating time-saving cloud technologies not only helps with work-life balance, but it can help to improve a business’ bottom line.

Business owners and their teams can free up their valuable time to focus on moving their business forward rather than on tasks that don’t require their expertise.

“Leveraging cloud computing allows business owners to focus on the things they do best and the things that have the highest value for their businesses,” explains Jonathan.

How to automate bookkeeping to save time

According to Jonathan, there are a few ways that cloud-based bookkeeping technologies can save time. “There are tools for getting the data into systems, analysing the data, scheduling work, paying the team, paying vendors, getting paid, getting short-term financing, and the list goes on and on,” says Jonathan. “When systems are designed and integrated correctly and the systems are used appropriately, time savings have a direct impact on the bottom line. For instance, the basic connection of bank feeds to accounting software – something all of the cloud-based platforms provide- presents significant time savings in data entry.”

Converting time consuming processes into real-time tasks makes a big impact

There are even more opportunities to save time by leveraging cloud-based technologies. In some cases, tasks that traditionally require wait and response times can be converted into real-time tasks. “Cloud platforms allow your team to perform tasks in near real-time that would normally be delayed in traditional systems,” Jonathan says.

For example, sales quotes can be generated at the time of the meeting, capacity and inventory can be checked, and the work can be scheduled almost immediately. Once the work has been completed, invoices can be automatically generated. All of this can is possible because of the remote accessibility of cloud-based technologies.

Can accounting be automated?

Cloud-based systems that utilize automation are very useful for almost every small business. When payment systems are set up with automated collection practices, accounting software automatically matches the payments to the invoice which saves a lot of time. These types of automations are also much more accurate.

Jonathan poses a useful question that many business owners may have overlooked: “When you automate small and repetitive processes, eliminating a few minutes of work every day, how much time would that add up to for you and your team?”

To find out more about how KATA Accounting can help your business save time with cloud-based technologies, visit their website or call 1-800-491-4803. Read more about cloud-based technology benefits for your small business on KATA Accounting’s informative blog.