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ESG Diligence: The Key To Sustainable M&A Transactions
AAB / Blog / Low cost Business Process Management Software – what’s the catch?
BLOG5th May 2017
Whether you are part of a finance team or a company owner, the introduction of cloud based accounting software can revolutionise the way you do business. It can transform the platforms on which you record your business’s financial information as well as the way in which you can collaborate with your customers/clients, employees, suppliers and accountant. Not only can you make your finance function more efficient, you can also improve cashflow at the same time.
All very interesting I hear you say, but you’re talking about accounting software, how can accounting software manage all my business processes?
Business process management software allow organisations to use a system of integrated applications to manage the business and automate many back office functions. Traditionally, however, even low end systems can cost businesses £20-£50k to implement and £10-£20k per annum for maintenance, making such systems prohibitive for many SME’s.
Cloud to the rescue
Through the cloud, you can now access systems and processes that were previously out of reach for most SMEs. Low cost, subscription-based, cloud-based, bookkeeping systems with the availability to add on integrated software products can effectively turn your accounting system into a business process management system, that really fits the needs of your business, without the significant cost of a traditional system.
The cloud also allows business to be undertaken in a paperless fashion. Information such as employee data; payslips; expense claims; purchase orders for materials; supplier invoices; sales quotes; sales invoices; contract documentation etc. can all be sent via (and stored on) the cloud. This means that real-time information can be accessed from anywhere.
What are the key benefits of cloud accounting?
Key things to think about when considering implementing cloud solutions:
For more information contact Steve Mitchell, Partner, steve.mitchell@aab.uk or your usual AAB contact.
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