It’s time to make the most of your cloud accounting

App integrations into your accountancy software can improve internal efficiencies within your business. Joe Virtue from our advisory department explains how.

With accelerated technological advancements in recent years, it has never been as important to stay ahead of the competition. This requires time, of course, and as a business owner, it's time that you simply may not have. Switching from old accounting procedures to cloud accounting is without a doubt one of the first crucial steps you should take to improve internal efficiencies and save valuable time. However, this is only the beginning.

Technological evolution has created so many new avenues of industry and this, in turn, has resulted in the need for modernised solutions for contemporary demands.

There are hundreds of innovative third-party apps available that can integrate with your accountancy software, so there are bound to be a number that are well suited towards you and your business' demands and which could potentially evolve and scale your internal processes.

We are currently living in exciting times; on the edge of complete technological revolution there is no better time to branch out, experiment and explore new software.

Below are some examples that only touch the surface of the countless possibilities you can achieve by implementing the right apps into your accountancy software.

Dext Prepare

Dext prepare, previously known as Receipt Bank, is innovative software with the sole aim of taking the headaches away from accounting data. This is possible with Dext's market-leading functionality, which provides a simple solution to processing data.

Whether it's a bank statement, an invoice or receipt, it can be uploaded to Dext through the mobile app, email or Dext's auto invoice fetch function, which is where crucial information is extracted from each individual document ready for review.

Once reviewed, you can publish documents from Dext into your accounting software in real time, ultimately turning your documents into a standardised digital format with all the figures you need in half the time.

Dext Prepare offers over 30 user-friendly integrations, but its functionality does not end there. When processing invoices or receipts, it is possible to set supplier rules, which is an exceptional tool you can use to streamline and automate your data processes.

These rules can be applied to suppliers where the nominal code is expected to remain consistent with every invoice or receipt. Once an invoice is uploaded to Dext, where a supplier rule is applied, all crucial information is extracted and is automatically published into your accounting software with the document attached; ultimately saving you time and allowing you to focus more on your business, with confidence in your figures.

Dext Commerce

Consolidating your transaction data across an array of e-commerce platforms can be quite a laborious task, but with Dext Commerce, it is made effortless and more time efficient.

Dext Commerce collates all your itemised data such as shipping fees, customer details, payment methods, discounts and more from all your e-commerce platforms into simple streamlined and standardised data, which can be automatically published into your accounting software.

Even though most e-commerce platforms allow you to export sales data, they are often formatted differently, making cross-platform exports extremely time-consuming. Dext Commerce does the heavy lifting for you.

Without a doubt, one of the greatest benefits of using Dext Commerce is that all your transaction data is pushed through into your accountancy software in real time, giving you valuable insights into your business on a daily basis and allowing you to make well informed decisions based upon current figures, rather than old, historic data.

Satago

Satago manages many of the tasks that can be considered a hassle when it comes to credit control. This particular software has a wide variety of functions that can be utilised to elevate your internal processes. One notable feature is that the software's credit tools can provide you invaluable insights into your new and existing customers.

Tools give you a clear understanding of your customers' financial history, with details of their directors and shareholders, any legal proceedings brought against them and their group structure. It is imperative to reduce the risk or any possible chance of accumulated bad debt, as this could significantly reduce the amount of cash available to manage your business' day-to-day costs with the potential to compromise your ability to pay your own creditors.

Using tools provided by Satago will certainly help you to remain alert when it comes to new customers and the likelihood of those customers being late on their payments or even not paying you at all.

If you have customers who are already consistently paying you late, you can use Satago's automatic credit control feature, which is able to automatically send payment reminder. It can be synced with your own mailbox to add an extra personal touch if you choose. In essence, Satago is a great way of keeping on top of your debtor days to improve cash flow for your business.

Implementing new software into your business can certainly be quite daunting, especially if have not done it before. If you are interested in modernising certain aspects of your business, but feel unsure of how to go about it, we have experts here at Page Kirk who are always happy to discuss this with you and offer tailored advice that meets your business needs. Give our personable team a call on 0115 955 5500 or get in touch via email enquiries@pagekirk.co.uk