4 Tips to Take Your First Step Toward Financial Automation and Its Big Returns

Nov 15, 2017
5 Min Read
4 Tips to Take Your First Step Toward Financial Automation and Its Big Returns

4 Tips to Take Your First Step Toward Financial Automation and Its Big Returns


Faster. Smarter. Better. We hear this combination of words so often, and it’s because we all recognize that, in today’s time- and resource-pressured business environment, they ring true as common aspirations.

Despite that, we’re still holding on to time-consuming and cumbersome processes—all tied to those spreadsheets, emails, phone calls, Post-it notes, and calendar reminders. Yes they’re proven. And they work, but they put your team and your business at a disadvantage.

The good news is that there are easy-to-use tools that can set you on the path to faster, smarter, better—and help you find more time to work on what matters most.


Empowering finance pros with automation

In a recent post introducing a new infographic, we covered the 3 Ways Automating Processes Empowers Your Finance Team: saving time, saving money, and reducing errors—benefits that all organizations strive to gain.

Here’s a concrete example of that strategy from one of our Quick Base users:

Tim’s initial job description revolved around working on variable sales compensation. With Quick Base, he was easily able to build a compensation app to handle quota credit. Now, information is quickly pulled in, calculations run, and reports created. Custom dashboards and reports now give sales reps and managers access to data that’s relevant to them - from at-a-glance summaries and stack ranks to month-over-month comparisons.

The time savings achieved through automation has, in Tim’s words, “Turned sales compensation from a full-time job to an asterisk next to my job title.”

With more free time at his disposal, he’s now focusing on strategic processes, helping his company determine whether they should concentrate on greater operational efficiency, invest in sales and marketing so that they continue to grow, or strike a course somewhere in the middle.

Tim’s story illustrates how finance professionals are empowered through process automation.

We understand though, that the hardest step with anything new is often the first step. Here are a few ideas to help you get started.

  1. Build a list of your time-consuming, repetitive tasks. A good way to start this task is to identify all the spreadsheets you’re using week after week, month after month.
  2. Estimate how many hours you spend each week on the tasks associated with data collection and troubleshooting data issues.
  3. Ask yourself how confident you are in the accuracy of the reports based on your data collection and spreadsheet calculations.
  4. Think through any challenges you have. Are you meeting management demands for timeliness? Do you ever run into “version collisions” in which multiple colleagues end up working on different versions of the same spreadsheet?

With this information in hand, it’s time to think through the goals of each process you’ve identified and decide where automation has the greatest potential to make an organizational impact.


Take the next step to automate your financial processes

Are you ready to take the next step? Download our new eBook: The 5 Step Blueprint for Automating Your Financial Processes to learn more about how to work through the full automation process. You’ll soon be on your way to saving money, saving time, and reducing errors—and on the road to a smarter, faster, and better way to work.


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