Business challenges related to time
restraints and financial hardship often
stem from a dysfunctional back office. It
could be that you (or another overworked
employee) are stuck handling your compa-
ny’s entire business operations, or maybe
a trusted in-house accountant recently
resigned. Regardless of the challenges you
are facing today, your future could look a
whole lot brighter with the right technology
at your fingertips.
Thanks to continued technological ad-
vancements, many daily tasks and re-
sponsibilities can be streamlined to allow
you to squeeze more productivity out of
every minute. Through the use of multiple
cloud-based technologies, Client Advisory
Services (CAS) allows business owners to
pay bills, issue payments, manage inven-
tory, record expenses and more – with-
out adding additional people, developing
complicated processes or forfeiting con-
trol of their business’s finances. In fact,
outsourcing the company’s accounting
function has been shown to cut business
expenses, enhance profitability and better
protect the business from fraudulent activ-
ity. Additionally, due to the online nature of
CAS, managing your business’s account-
ing function can literally be done anytime,
anywhere – as long as you have an internet
connection.
HOW TO BUILD YOUR CAS
INFRASTRUCTURE
Step One: Establish Your Hub
When setting up your outsourced account-
ing department, you’ll need to determine
which software to use as the hub of your
operation. We frequently work with Quick-
Books Online ® , but there are other options
available as well, including Sage Intacct ® .
This program will be your primary account-
ing software and all other programs will
feed data into this centralized location.
Step Two: Consider Secondary Programs
Your accounting infrastructure can include
a variety of cloud-based solutions, all de-
signed to help businesses like yours bet-
ter manage the back office. Our favorite
accounting tools include:
• Bill.com ™ : A cloud-based accounting
solution designed to help businesses
realize faster payment processing and
reconciliation. This tool allows your CAS
team to receive accounts payable in-
voices from vendors while giving you the
ability to review and approve all invoices
before they are sent. This tool syncs with
QuickBooks Online in real time to pro-
vide users with a timely snapshot of the
company’s overall financial wellness.
• SOS Inventory ™ : Even though QuickBooks
Online includes basic inventory function-
ality, SOS Inventory is a comprehensive
inventory management solution that al-
lows manufacturers to set up assembly
projects, track serial numbers, develop
purchase orders and manage receiving
capabilities between warehouses.
• Expensify ™ : This expense management
program allows employees to submit
receipts quickly and easily – all they
have to do is take a picture and send it
off for approval. The software will tran-
scribe the details of the receipt and sync
the information with your accounting
software hub.
Step Three: Take Back Your Time
I think the best part about helping business
owners manage their back office func-
tion is being able to give them back the
time they need to focus on new ways to
grow their business, improve existing pro-
cesses, develop new strategies and be-
gin the exit planning conversation. If you
would like to find out how technology can
be used to help you find more time in your
day, give me a call at 330.308.6880. Or
visit www.reacpa.com/client-advisory-services
to learn more.
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