Technology and people – namely, those in accounting – have had a rapidly evolving relationship over the last decade. Accounting innovations in technology have changed the way we interact with and understand data; in fact, this new digital plumbing framework has ushered in a new age of code and application program interfaces (APIs) altogether.
It’s these code-driven integrations that are giving businesses a competitive advantage and providing them the edge they need to delight their customers.
So, we bring the question to you – how’s your digital plumbing working in your business? Is there a leak in the pipes, costing you valued productivity? This is something you’ll need to work with your developers to pinpoint and optimize.
Understanding Digital Plumbing
Digital plumbing is a term used to explain the piping that connects together key information and data from your business. By minimizing the amount of manual data entry, you can maximize efficiency and improve your business’s bottom line.
That’s the beauty of true digital plumbing (yes, we think plumbing can be beautiful).
The next question is, how do you evaluate your business’s plumbing to see where you can fine tune and end the perpetual game of catch-up with numbers?
Of course, the answer is this - with a solution that both automates and integrates everything the accounting team needs in one place!
Automation & Integration
The marriage of integration and automation is how your digital plumbing will get taken to the next level. This doesn’t mean accountants’ collective jobs are at risk though; quite the contrary, actually! Accountants of today are now required to know more higher-level, critical skills than the basics. According to Robert Half, the salaries of accountants and bookkeepers are expected to rise by 3.7% in 2017.
By having bots automate accounts payable, invoice creation, and other iterative workflows, you can focus on what matters: data that drives business.
Be at the front of the pack – work with developers to improve accounting and mesh technology with the day-to-day. You can accomplish this by asking some important questions, such as:
- How will this integration help our customers?
- What ways can we tweak our solution to be more user-friendly?
- How can we improve performance while being more cost-effective?
- Where can we simplify workflows for our customers?
While these questions don’t require programming knowledge, it helps steer your developer in the right direction to build an interface that’s simple and friendly.
Focusing on Data
As accountants, we often spend more time gathering data, with only a small sliver of time to review it. Digital plumbing is designed to flip those trends, and allow you to be aware of the necessary KPIs in order to take ownership of your processes and implement the necessary improvements.
Then and only then will you be able to connect the pipework and make an inimitable digital plumbing solution. This is a term that is showing no signs of stopping across all verticals – so take the necessary steps to assess where your plumbing lies.
If you’d like to learn more about integrating your processes, download our free whitepaper, Syncing People, Processes, and Information.