One of the fastest growing types of software for businesses is employee resource planning software. In one year, ERP software has seen sales of over $45 billion. Unarguably, ERP solutions providers have HRMS software to thank for this huge growth. HRMS solutions, standing for Human Resource Management Systems, assists businesses with their payroll systems, employee time management, performance assessments, scheduling and much, much more. While all of those abilities are continually proving their worth to businesses of all types, it’s online accounting software, an increasingly popular HRMS application, that is really helping businesses cut costs, improve productivity, and become better businesses overall.
Technology That Accountants and Laymen Can Competently Use
As Forbes writes, lack of ability is one of the fastest growing concerns among all businesses when it comes to their accounting departments. As the source writes, much of what’s being taught to accountants in college isn’t quite up to the standards that companies, large or small, are looking for in their accounting teams. The best online accounting software is written to be so intuitive and easy to use that it can help to make up this gap between well-trained accountants and complete laymen.
Much More Efficient Accounting Teams
Online accounting software has been engineered to automate many of the more menial tasks accountants have to deal with on a daily basis. With online accounting software, your accountants will still have to enter payroll data, for example, but the system will then calculate paychecks, accrued vacation time, and PTO by itself. As Recruiter.com points out, cutting out even these little jobs saves accountants a lot of time, freeing them up to focus on other parts of your business, like financial planning and investment strategies.
Huge Opportunities for Cutting Costs
- No Need for Huge Accounting Teams
- Low Usage Fees
By automating many of the more time consuming accounting tasks, online accounting software streamlines your accounting department. In many cases, this results in this section of your HR department becoming so productive as to render some of your workers redundant. Consider, Indeed.com estimates the average salary for accountants at $58,000 a year. Isn’t shedding nearly $60,000 worth of unneeded personnel costs reason enough to make the switch?
Unlike traditional desktop software which costs hundreds to thousands of dollars to buy outright, online accounting software offers users all of its benefits for low monthly or annual fees. According to About.com, many online accounting software providers offer service for as little as $20 a month. Included in that price is the software itself but also the promise of technical support, software updates, and much more.
As you can see, online accounting software brings with it the ability to make your company more productive and the ability to reduce your personnel costs by tens of thousands of dollars a year, all at a truly affordable price. If you’ve been looking for a way to trim the fat from your business, what more could you want? Continue reading here: www.flex.hk