Organizations focus on innovative techniques to enhance productivity, save cost, and generate revenue. With the rapid advancements in technology, they are heading towards the automation of various business functions. The capability to automate and seamlessly integrate data between various business functions help organizations focus more on building their business and generating revenue.
Although customer-focused departments play an important role in businesses, back-office
operations are considered to be the backbone of an organization. Administrative and support
departments such as information technology, legal, human resources, and accounting form
the crux of a typical back office. Automating back-office operations can help in streamlining
important processes and collate relevant inter-related data from various departments, and
utilize it efficiently to make important business decisions. Therefore, utilizing state-of-the-art
technology and cognitive intelligence of humans in a perfect balance, many organizations
are aiming towards building a smart back office.
Reports from accounting functions present information that helps you derive cost-cutting and
revenue-generating opportunities. Following are the key activities that can help you in
integrating technology towards building a smart accounting back office:
➢ Choosing an appropriate platform
One of the most important requirements to build a smart back office is a platform that
provides accounting applications that help you integrate all the relevant accounting
functions.Quickbooks Pro cloud hosting is one such platform, which is highly customizable according to
your requirements. It is also flexible and provides integration with other third-party
applications. The QuickBooks platform comes with a bundle of products and services,
exclusively for managing accounting and finance operations of businesses. So, it is
more appropriate to work towards building a QuickBooks-Centric Smart Back Office.
➢ Deciding whether you want to build it in-house or outsource it
Partnering with service providers who have certified experts can help you build an
effective QuickBooks-Centric Smart Back Office. You can concentrate on other
important tasks by outsourcing it for a nominal cost.
➢ Analyzing your key accounting functions
Although there are key accounting functions that are common to many organizations,
you might want to analyze and derive the relevant accounting and other co-related
functions that you wish to automate. Some of the important functions that can be a
part of the QuickBooks-Centric Smart Back Office are:
▪ Sales and Expenses Management – Tracking inflow and outflow of revenue is
an important function. QuickBooks provides options to organize sales and
expense-related information in a single place, which helps in efficiently
managing sales and expenses in the organization.
▪ Invoice Generation – Generating invoices and tracking them until the payment
is completed is quite a tedious task. QuickBooks helps you quickly create
professionally-designed invoices and track them accordingly.
▪ Bill Payment – Paying bills is easier by using electronic clearing services.
QuickBooks provides integration with third-party bill payment applications.
▪ Payroll Management – Integrating timesheet management and payroll
calculation is an important back-office function. Automating and integrating
these tasks save time, labor, and decrease faulty calculations. QuickBooks is
equipped with an integrated payroll feature that handles these issues
▪ Bookkeeping – Accountants can access real-time data to help them work on
bookkeeping reports, periodically.
▪ Bank reconciliation – Linking QuickBooks to bank accounts help in tracking and
managing payments from clients efficiently. It also helps in tracking expense related
▪ Access across locations – With cloud-based facilities, QuickBooks allows you to
access information from different locations easily.
➢ Designing and developing optimized reports
Reports play a vital role in driving business-critical decisions. Designing and developing
customized templates that help in retrieving information, integrating it, and
generating reports periodically can save time and enhance productivity.
QuickBooks-Centric Smart Back Offices can help you enhance productivity, save cost, and
focus on generating revenue.