Why & How You Should Automate and Streamline Your Financial Processes
Is Automating Your Financial Processes the Key to Increasing Efficiency?
According to research by SnapLogic, 90% of employees regularly carry out repetitive tasks that could easily be automated. It is said that these unnecessary processes manually carried out by the employees, cost businesses around 19 working days per employee per year.
Other studies by Automation Anywhere outline how employees spend 10-25% of their time on repetitive computer tasks, with data entry being the most hated task. Automating your business and its financial processes would mean that you or your employees could spend that time doing other tasks that would be a lot more beneficial to increasing the value of your business.
How Automating Your Financial Processes Will Benefit Your Business
“When employees are happy, they are your very best ambassadors”
- Increases Employee productivity and happiness
With the previously mentioned studies and statistics in mind, one of the many benefits of automating financial and business processes would be a significant increase in employee happiness and productivity. Your employees can utilise their skills elsewhere to complete meaningful tasks that will contribute more to their personal development and the value of their role and your business. It has also been proven there is a strong positive correlation between employee happiness, employee productivity & also customer loyalty. On the other hand, it was found there was a strong negative correlation between employee happiness and staff turnover. This research further confirms that there are strong links between higher levels of employee well-being at work and increased business productivity and profits.
- Reduces human error
Everybody makes mistakes, right? We are only human after all! But how much does the regular occurrence of a human error affect your business?
It is said that in an organisation of 500 employees, payroll errors could cost a business £150,000 a year. Errors in payroll and wages can also result in very unhappy employees! Studies have shown that even in the uncertain times during the pandemic, 50% of respondents would consider leaving their role if there were reoccurring salary errors. So not only does human error effect your business financially, it can also significantly increase staff turnover.
With our REST API for Sage 50Cloud Payroll, the automating runs on time, to schedules and is also highly reliable. A win win all around!
- Optimises costs
Another benefit of automating your financial processes is that the employees who are being paid to do the same repetitive payroll admin tasks daily, can focus their energy and skills on making the business thrive and grown in other areas.
If you are an owner of a smaller business which does not have a large, dedicated payroll department, you can also save yourself the stress of doing it yourself or the cost of hiring someone by investing this money elsewhere and into our specialist Sage payroll automation software. This will optimise your business costs and allows you invest the money developing your business in other more important areas.
How you can automate and streamline your financial processes
If you have read the above and realise you want an easy and reliable way to push and pull data into and out of Sage 50 Accounts, then look no further as our REST API is just for you!
Our API is the UK’s only fully functioning REST API for Sage 50Accounts and Sage 50cloud Accounts!
In recent years, our REST API for Sage50 accounts, also known as HyperAccounts API, has been developed to handle live transactions in whatever currencies and exchange rates you have set up within the settings in Sage.
We are also a Sage authorised developer partner. This means the software and development we provide is supported by developer support direct from Sage. This means you can be rest assured that our products are reliable and trustworthy.
In terms of installation, initially, we need you to complete set-up instructions that wil be provided in the form of a checklist by ourselves. Once this checklist has been completed, we will then request access to the server or PC where you want the API to be installed.
Once the installation process has been completed and the API is testing successfully, we will provide you with access information in the form of a URL & a secure unique 24-character alphanumeric token.
We also send you the relevant documentation so that you and your development team and start your integration and development process.
Below are some examples of the endpoints the HyperAccounts API has:
● Sales Orders
● Purchase Orders
● Sales Invoices/Credits
● Purchase Invoices/Credits
● Transactions (Receipts, Payments, Journals etc)
● Audit Headers
● Audit Splits
● Audit Usages
● Tax Codes
● Exchange Rates
● Payment Method
If you would like to know more about our API’s & installation processes, please check our FAQs page.
If you are interested in our HyperAccounts API or want to request the documentation, please fill in a contact form