In my last article, I wrote about Data Processing Automation (DPA) reducing the amount of labor it takes to streamline accounting processes in QuickBooks. Specifically, it reduces the amount of time required to manually process and manipulate data. DPA typically reduces labor by average of 27% across all kinds of applications, but it can speed up accounting processes by as much as 80%.
Well, I have another example for you. DPA can also be used to automate tasks in Sage.
Sage Accounting Software
Sage is accounting software that supports business owners’ accounting processes. Sage’s platform allows organizations to track all their financial operations, helping them forecast cash flow, invoice, and payment management; reduce manual data entry, and build clear reports from the cloud and mobile devices.
Further automating operations within Sage modules frees up accountants’ time for analytical tasks and reduces inefficiencies in their daily routine.
How it works
- Automates accounts receivable and payable processing among multiple sources
- Automates customer on-boarding within Chart of Accounts in SBCA from a custom Excel spreadsheet
- Executes data entry and exports data within Sage invoicing processes Collects and consolidates transactions for further reconciliation
- Automates pre-payment validation and reconciliation
- Sends email/messenger notifications of pre-payment exceptions to relevant managers
DPA at Accounting Firms
Delivering more value to clients should be high up on the agenda for any accounting or bookkeeping practice. DPA solutions make each person much more effective at creating value for the firm. It translates to each member processing more accounts and generating greater profits. This makes it a lot easier for businesses to 5x their return on investment. In general, firms can expect to see a 14% increase in profits for revenue streams based entirely on working financial accounts.
There’s a lot of money to be made by getting out in front of your competitors with DPA, and DatCom is the only service provider to combine DPA with Staff enhancement and Business Process Optimization for an even greater impact. We are astonished at how much $$ companies are losing each year due to inefficiencies, and we are committed to providing affordable solutions to stop the hemorrhaging.
What are your thoughts on process automation in accounting? Leave your comments below!