There have been innumerable cases of delayed payments, accounting errors, late delivery of invoice and many other such variables which have result in great losses for the companies. Like it has been said again and again, 21st century is the century of technology and technology is being used as the tool to solve all the problems within its spectrum. It is needless to say; the spectrum is quite wide and there have been many successful implementations in real life scenarios.
One such problem is the problem faced in manual accounting, which is slow as well as susceptible to human errors. So, there is no doubt that this part needed some technology implementation for improvement and we have not been disappointed. With making of some key account management software, accounting has been made much easier, convenient, fast and error-free. Let us have a look at ways in which the account management software helps you.
1. User friendly
When it comes to solutions for real life problems, they are of no use if they are not user friendly. The main motive of technology is to make the lives of the users easier, so if using the software remains a complex thing, no one is going to use. Fortunately, most of the key account management software has user friendly interface, so that users can easily understand different functions of the software. Once the software is installed as per the requirements, all you need to do is go through some practice and using the software will become like back of your hand for you.
Apart from this, most of the software come with automated features as a result of which, you will not have to instruct which part of the invoice will go where and what needs to be done in a particular sheet. So, the amount of effort that you will have to make in accounting decreases manifold. So, there is no doubt that key account management software is here to make your work easy.
2. Automated calculations
Manual calculations have two major drawbacks – one, it takes very long time and two, however good the accountant is, there are chances of error. Just imagine, what would happen if you type a zero less in your calculator or miss it while doing the calculations manually? Your firm can suffer losses in millions, which may or may not be recovered depending upon the nature of loss. In such a solution where each and every error takes away a good amount of your fortune, is not it the best to rely on a technology which cannot make mistakes at all? It is a wise decision. Most of the key account management software have automated calculation features, courtesy the efficient programming done while making the software.
3. Fast and Reliable
Key account management software is designed to work at a very high speed, making sure that all the work is completed within the deadline. If humans are doing accounting, working at fast pace makes the accounting work susceptible to error. However, one of the biggest advantages with key account management software is that despite working at a fast pace, they are reliable and they do not commit errors. So, there is no doubt that the future of accounting lies in account management software.
4. Secure way
Most of the software are password protected, ensuring safety of your valuable and sensitive accounting data. Programmers make sure that the coding is done in such a way that the software is not very easy to hack. So, it can be said that your money remains in safe hands.
5. Timely making of invoice
Delay in making and delivering of invoice is one of the major factors behind long payment delays and companies missing the payment deadlines. Wouldn’t it be great if there is a friend who takes care of your invoice making and invoice delivering duties, doing all the work within the deadlines and with no chance of error whatsoever? Yes, it will be great and you will be delighted to know that it is one of the features of the key account management software. They make sure that invoices are delivered within the promised times, robbing the opposing party of the excuse of delayed delivery of invoice leading to delayed payments.
6. Accuracy and Cash Flow
Good and well programmed key account management software ensures accurate results and continuous cash flow as a result of timely completion of all the works. Needless to say, this helps in achieving your mission.
So, these are some of the great ways in which the account management software is going to be of help to you.