Financial Technology for the New Normal
While no one would deny the importance of robust and reliable financial technology, the COVID-19 pandemic has highlighted the need for strong technology capabilities at every level. Suddenly, while working completely remotely, businesses must stay connected, operate efficiently, and manage financial health. The pandemic forced many businesses into confusing uncharted waters.
With experience and know-how in the most current and best electronic systems, The A Team is well equipped to assist your business with effective financial technology during these difficult times. We’ve examined, vetted and deployed a variety of technology offerings that can be fine-tuned to suit your company’s individual needs.
Many small businesses still pay vendor bills manually, entering them into their accounting software for payment by checks, ACH transactions or credit cards. This process requires approval protocols by a manager or owner before the bookkeeper issues payment. When staff is not centrally located, and multiple parties must access vendor bills and checks to use for payments, the process becomes cumbersome and inefficient.
Bill.com, which has automatic integration with QuickBooks, SAGE Intacct, Xero, and Oracle NetSuite and manual integration options for other accounting packages, is an excellent cloud-hosted third-party solution that allows the entire process to be handled electronically and remotely.
Bill.com is straight-forward and includes the following steps:
- Set up users for your company and create an authorization process.
- Upload bills into the system.
- Choose method of payment: e-check, EFT (electronic payments) or credit card.
- Payments are automatically processed into your accounting software.
Cloud-hosted solutions like Bill.com provide efficiency, integration and easy access from wherever you are. Let our accounting technology team show you how to improve efficiency and integrate your systems to respond to the growing need for remote work capabilities. We’d be delighted to assist – just shoot us a message.
