What problems do 4PointZero solve? (Part 3)Jamie Allen
Continuing our theme on items helping people understand all the various and real problems we help businesses with below is the next segment in our series. This article focuses more on specific software types and accounting automation options.
Single Sign-On (SSO) and Security for SaaS-based systems and companies
The modern way of (remote) working and the evolution of cloud tech has created a huge number of advantages but along with this come certain challenges. Not only is there the need for investment in the new systems but then also ascertaining which suit your needs the best, training, deployment, embedding in your business processes and maintenance. As you add more and more systems so increases the number of items to keep on top of. Our SSO solutions make this process easy.
For every user in your company, we create their own personalised portal to access all the applications they need in one secure place. To get in here they need 1 username, password, and a code from their phone if you wish to have dual authentication which we recommend. We can white label the solution and have a huge App Store of applications available in the portal and can add more on request. This means you always have a list of the systems and access each member of staff uses meaning if they leave you can track and remove access ensuring your data is always kept safe.
Inactivity, Licenses and Costs
Leading on from the above, many systems will charge you based on various metrics whether it be companies, users, or transactions. Keeping track of these items is time-consuming and overall, a bit of a pain. Through our range of systems, we have specific tools to track all these items and ensure that any accounts that are not in use are identified and this is communicated. We want to help our clients only pay for what they use and keep their user lists tightly controlled and accurate; the net impact of this is that you also pay less which is a bonus.
Automated Bookkeeping for all integrated data including:
The principal function of our work is to make processes completely automated or at least to the point where it makes sense for humans to interact and review the information. Within this, we have unlimited possibilities, and we could write a series of blogs simply on this subject alone but to give a handful of examples of real-life automated solutions we have constructed, you can see these below. When collecting this data, if it is needed as an accounting transaction, this is posted into your accounting system with the required (but briefest) level of detail automatically.
o Any Sales information including:
- Point of Sales & Ticketing Software
- E-Commerce Platforms
- Practice Management Data
- E-Billing Systems
o Payment Provider Data including Stripe & PayPal.
o Supplier Invoicing from large suppliers via EDI, API Integration or sFTP
o Stock System Integration (which can include Purchase Order Data)
o Rota Management & Timesheet systems including integration and reconciliation to payroll.
o Deferred Revenue Calculations or any straight-line cost apportionment over a fixed period.
o Various Bank Feeds for multiple Accounting Systems.
o GBP and Global Currency Payments
o Payroll Posting and BAC’s Payment Mechanisms
Complete OCR and Invoice Scanning Solutions
Hopefully, most businesses will have made the step away from paper-based accounts processing but there are probably many businesses out there still processing paper invoices into an accounting system or spreadsheet as it is what they know or believe it will not save much time. If you are processing a handful of invoices per month, it’s true, the benefit will be marginal. But if you start to add expenses, receipts and invoices into the mix it should start to become worth it. Especially when you consider other benefits such as a clear audit trail and avoiding questions from your accountant and tax specialist.
Expenses and Digital Authorisation Solutions including mileage
Linked to the above point as most Scanning and OCR solutions will include an expenses option. This process should move you away from excel sheets and handing over individual receipts in plastic boxes. It’s just a Time Vacuum on often items that are pennies. Snap it, scan it and send it, then it is just done with no headaches.
Online/Mobile App Invoice Authorisation for Cost Control
A huge benefit of Scanning Solutions is the ability to automate the receipt of paper purchase invoices into your business and accounts. However, automation can often compromise on financial controls. If the system is pushing these things through without the human, there is the possibility incorrect items could be missed. That is why we always ensure that there are the appropriate checks in place to ensure things do not slip through the net. This process is also incredibly easy with authorisation possible via a mobile device on the go.
PO Solutions/Systems to Order/Delivery and Invoice Reconciliation
Sometimes it’s too late if you are waiting for the invoice, let alone if you are only reviewing it once the invoice is in the accounts. Accountants also want to track anticipated costs before they arrive. This can lead to the desire for a purchase order so provisions for future costs can be collected and posted automatically. Having the financial controls and the ability to share this information before the event can be critical to making sure there are no nasty surprises. These solutions can also be pricey if you do not understand the various options so watch out.
If you would like any more information on any of the above solutions, please do not hesitate to contact us at www.4pointzero.co.uk.