Financial institutions are only beginning to scratch the surface with Robotic Process Automation (RPA), and much of the technology’s potential remains untapped. This is not to say that financial institutions are ignoring how RPA could significantly increase business productivity – rather, most organizations are still fuzzy on how the technology can be safely implemented and executed within their processes, but all of that is about to change.

 

Robotic Process Automation, simply put, is automation software that can mimic human action based on defined rules. The benefits of RPA are many and include increased productivity, saved time, less human error and cross-functional integration, just to name a few. Especially in industries where transaction volumes are high – such as the financial services industry – the virtualization of the workforce can create more efficient operations and streamline processes, so that employees can spend less time focusing on routine, menial tasks and more time on their higher-level responsibilities. What were once lengthy, time-consuming tasks become efficiently automated processes that allow organizations to become more agile in their everyday operations. Even the need for outsourcing can be eliminated as routine task administration can move in-house to automated systems – in effect, saving financial institutions millions of dollars.

 

Through the development of sophisticated, turnkey machine learning and cognitive tools that have acted as enablers for the viability of the technology, RPA has finally become reliable and powerful enough to ensure cost-effectiveness and relevance for financial institutions. As a result, dozens of RPA vendors are popping up, eager to help you implement the technology in ways that could profoundly shape your business and its bottom line.

 

Past uncertainty is in the process of transforming into outright demand for RPA across the entire enterprise, and businesses are looking for the best place to start implementing the technology. Here are a few places where financial services institutions should think about implementing Robotic Process Automation:

 

• Existing processes: RPA technology can streamline operations and cut costs, and a focus on integrating RPA with current infrastructures and processes ensures that the technology does not create an unwanted disruption in day-to-day operations, but rather improves the quality and efficiency of what already exists. A cost-first approach keeps efficiency at the forefront of the discussion while identifying opportunities for performance improvement.

 

• High-volume, repeatable processes: Processes that require a lot of volume and repetition to get the job done are a great place to start with RPA. Look specifically at processes that have already been moved nearshore like payments, settlements and other manual tasks that are highly trainable.

 

• Content-intensive processes: When it comes to copying content from one source to another, RPA is a great solution for automating the process. There are applications for taking many varieties of content from paper to computer, paper to system and even system to system to streamline the compilation of data.

 

• Data-intensive processes: RPA can even be used to automate more sophisticated processes like quote generation by abstracting data from literally thousands of sources and making cognitive sense out of it. In many cases, the data does not even have to structured.

 

Of course, emerging regulations are making the adoption of RPA more complicated, and organizations’ understanding of how these regulations address RPA technologies is often murky at best. Remember that any solution that is implemented must comply to the many rules and regulations that define their operations.

 

Soon enough, RPA will become embedded into the technology systems that financial institutions use every single day. RPA technology will no longer be a differentiator among competitors – it will be a necessity, a standard that all firms will need to follow to ensure their survival. As “workforce virtualization” becomes the norm, financial services firms will find themselves undergoing an evolution that not only increases efficiencies and cuts costs, but also lessens the data burden on employees and empowers them to perform at the highest level.

For more contact our experts.

 

 

 

 

Get your Return on Investment swiftly by implementing Sage 300 (Formerly known as “Accpac).

Technology has changed the way businesses operate in the recent past. The environment has changed the competitive landscape for businesses. Especially business owners and small & medium enterprises who were using systems to record the transactions and used those data to prepare the financials and spreadsheets for management reports.

 

Change in role of the use of accounting systems in businesses  

 

But in the recent past the competitive landscape has changed drastically where the businesses are required to align their strategies in accordance to the business environmental changes. So now the business owners require more information on the go and ERP systems should have the ability to do predictive analysis capabilities. This in turn eliminates the wait for the annual financial reports for decision makers to understand their performance related issues, which is almost a postmortem report where decision makers ability to change the cause of the business is limited.

Future is uncertain? Are we equipped with the right modern ERP?

Critical Business Challenges in the modern world

The transformation of ‘Accpac’ to ‘Sage 300’ has helped many businesses sustain their competitive edge. The aspects which are critical for the success of a business in a competitive edge would be:

• Financial Reporting
• Analytical reporting (Predictive Analytical Reports)
• Control Procedure (Financial Management & Fraud Prevention)
• Availability of Online Information (Stocks, Suppliers & Customers)
• Business Intelligence

 

The above functions will arm the businesses to make the right decisions at the right time.

Winning the game in a competitive environment with the right combination

Sage 300 is a solution which is available through different offerings, cloud and on-premise in UAE and Qatar. It has the minimum switch-over time compared to other similar ERP’s in the equal tier, the rate of adaptability of the users is high. These features will give the organization a heap of benefits as investing on ERPs have been a nightmare for most of us. But with Sage 300 the businesses will start reaping the benefits after 90 days of making the investment and some businesses have even minimized it by going live in 60 days. Web access, Business Intelligence & Integration friendly architecture have been the key for Sage 300 success in the region. IFRS compliance and global standardization had made Sage 300 a robust solution in this era.

 

These are the value-added benefits of implementing Sage 300:

 

Greater Control Over Growth

Sage 300 gives you greater control over your entire business with flexible tools that improve finance and compliance reports; it also integrates your sales and service functions with accounts receivable and payroll. In addition, Sage 300 offers you the ability to increase the number of users as needed, so the system can grow as fast or as slow as your business does.

 

More Flexibility

A work environment with geographic flexibility is just one example of the ways the business landscape is changing. To stay competitive in today’s far-reaching economy, you need much more than solid information on your desktop at your office. With Sage 300, you can work anytime, anywhere – well, anytime, anywhere you have an internet connection, at least.

 

International Business Opportunities

Today’s far-reaching economy now includes the entire globe; Sage is a valuable resource in international business growth support, starting with the system’s ability to work in multiple languages and conduct multi-currency transactions. Now your business can efficiently conduct business with people from different countries.

 

Ease of Use

All of these value-added benefits from Sage 300 also include uncomplicated navigation, a higher level of freedom and flexibility, and complete financial management control that improves your ROI.

Sage 300 raises the performance bar with the finest business accounting software solutions for any size business. With standard, advanced, or premium editions, you can choose the version that best fits your needs and pushes you toward meeting your business goals.

If the tools and processes you’re relying on to run your business are out of date or simply too unsophisticated to keep you competitive in your industry, it’s time for a serious business evaluation.

Contact BTC to learn more about how Sage 300, the effective and cost-efficient management and business accounting solution, can work for you.

 

 

Implementation Success Starts and Ends With Equation Technologies

Even with great planning, software implementation is complex and challenging. During the implementation phase, you need an advocate at your side. An experienced consultant that listens carefully, understands your business, and knows exactly how the new system must perform.

At Equation Technologies, we do just that.

We’ve developed a unique ERP system implementation process as a result of hundreds of successful projects. The key is our combined sales and implementation team. The same consultant that helped you choose your system will be involved at each step of the implementation.

 

Best Practice Consulting

• The implementation is timed to minimize impacts to your business
• If any problems arise, they are resolved once and for all
• It is easy for your employees to learn the new system

 

Advanced Project Management

• An initial planning meeting
• Step-by-step detailed project plan document and timeline
• Accurate project estimates for time and costs
• Complete configuration tracking and implementation setup
• New reports run and appear as described
• All data is migrated accurately

 

Network Design and Architecture

• A design document detailing customizations and programming plans
• Proper performance of your network and secure access to your system
• All newly automated and integrated processes flow as planned

 

Why Implement ERP?

 

• Efficiency – The number one goal of implementing ERP software is to boost efficiency. ERP software eliminates repetitive processes and great reduce the need to manually enter information. The software is also able to streamline business processes and make it easier and more efficient for companies to collect data, no matter what department they’re working in.

 

• Forecasting – Enterprise resource planning software gives users, and most importantly managers, the tools and resources needed in order to create more accurate forecasts. Since the information within ERP is as accurate as possible, businesses can make realistic estimates and much more efficient/effective forecasts.

 

• Productivity – ERP software will save you time through productivity enhancement. Through having redundant processes automated, individuals will have more time to work on other important projects and tasks. They also will be able to work easier since the solution was designed for easy use.

 

• Flexibility – Modern-day ERP softwares are robust and flexible. They are not a one-size- fits all, but they can be tailored to the unique needs of a manufacturing operation. ERP software is also able to adapt to the changing needs of a growing business, eliminating the need to purchase a new solution once your business changes.

 

• Collaboration – Collaboration is another one of the main benefits of utilizing ERP software. Collaboration between departments is a crucial and important aspect of a manufacturing operation and allows for much more thorough visibility. With data being entered into ERP systems being centralized and consistent, there is not much reason for why departments would not be able to work together.

 

• Scalability – Structured ERP software enables the addition of new users and functions to grow the initially implemented solution over time. When a business is ready to grow and continue to build, enterprise resource planning software will aid in facilitating the growth.

 

• Cost Elimination – ERP software reduces administration and operations costs through the utilization of accurate and real-time information. It allows manufacturers to manage operations, prevent delays within production, and break up information, ultimately enabling managers to make decisions much more quickly and efficiently.

 

• Mobility – Some ERP softwares grant you access to a centralized database that allows you to work from home, the office, or wherever you wish.

 

• Competition – While ERP software is expensive and a substantial investment, it is actually more costly to not purchase the software. While there are manufacturers that are seeking to stick to methods of the past, this has put them a bit beneath the competition. ERP has technological advancements that greatly aid production efficiency and productivity.

 

• Integrated Information – No more issues with data spread across separate databases since all information will be inserted into a single location. This means that you can integrate platforms such as CRM software with an ERP system, which keeps data consistent, accurate, and unique.

Ready to learn more? Our ERP solution experts are ready and willing to answer all your questions and help you get started on selecting the right solution for your business. Contact us

 

In SAP Business One 10, the design is completely revised and tailored to the needs of the users.  Enriched with new functions, SBO appears even clearer and is impressive thanks to its intuitive user interface. .

With version 10.0, SAP introduced new features and capabilities to help drive your business in UAE and Qatar forward as an intelligence enterprise.

Some special enhancements we can all watch out for are as follows:

• New skin: The fresh, updated look of SAP Business One 10.0 takes its cue from the SAP Fiori design and is available with the Fiori-Style Cockpit.

 

• Interactive Gantt charts: To streamline how users plan, build and view projects, SAP Business One 10.0 Gantt charts are interactive, customisable and user-friendly.

 

• Seamless Office 365 and One-drive integration: This version’s integration with Microsoft Office 365 and OneDrive enables users to export grid results and reports directly, and document layouts to Excel and Word, respectively. Also, the SAP Business One 10.0 Template Management feature makes customising reports and document layouts a breeze. More importantly, cloud access means users can update, change, and manage data from virtually anywhere.

 

• Existing module enhancements: SAP Business One 10.0 facilitates easy administration in several ways. Examples include the enhanced selection criteria for document printing, which, in turn, optimises batch printing, as well as functionality and productivity. Simplified and more detailed approval features also reduce unnecessary back and forth between the authoriser and document author. It also allows for different levels of user authorisation based on responsibilities and tasks. This removes confusion, streamlines and improves data protection, prevents human error, and enhances productivity.

 

• Drill down feature in financial reports and BOM: Through the use of golden arrows in financial reports, users can easily drill down into each account record. This means users have direct access to account details and account balances, thereby saving time and improving functionality, as well as transparency.

 

Functional improvements

• Interactive Gantt chart
• Service call printing and e-mail support
• Form setting for document printing
• Financial reports G/L account drilldown
• Refinements to the bill of materials
• Form for series and batch management
• Arrears reserve accounting support
• Support appendix folder in additional documents
• Extend support for reference documents
• Translation table for print layouts

Optimization of user-friendliness

• Extended full screen support
• Improvement of the user-friendliness in marketing documents
• New skin and UX improvements
• Support for 4k monitors

Localizations

• New localization for the Middle East
• Improve localizations
• Tax improvements

Industry focus

• Registration for electronic money transactions
• Improvements to support retail and wholesale businesses

Continuation of the Web Client

• Focus on sales processes using SAP HANA
• Expandable via Service Layer

Integration

• AP Intercompany Integration Hub
• MS Office 365 (Word, Excel and OneDrive

Innovation

• Automated online banking connection
• Invoice recognition based on machine learning
• Use of the SAP HANA 2.0 platform

Reporting

• Integration in das Advanced Compliance Reporting von SAP
• SAP Crystal Reports content renewal and SAC integration

 

Mobile

• Example scenarios for production/inventory
• Integration of SAP Field Service Management
• Further improvements for the Sales/Service App

 

Infrastructure & Extensibility

• Expansion of the cloud infrastructure and tools
• Improvement of the DI/service layer coverage
• Introduction of API Hub
• UDFs are supported in additional tables
• Support for 64-bit/lightweight extensions
• Extension of UI tools
• FMS multi trigger support

 

LCM & Support

• Integrated improvements in event reporting
• Logging and tracing (cause analysis)
• One-click installer and reduced package size
• Optimized patch delivery cycle

 

SAP Business One Version 10.0 enhancements are not limited to the above. It has other features that promise better availability, improved security and stability to all users.

With Version 10.0, everyone can look forward to features to help businesses better manage customers and seamlessly perform their activities involving sales ordering processes directly from the web. With the new year fast approaching, SAP Business One Version 10.0 may be the best feature-packed gift you can ever hope to receive as a business.

We will be getting in touch with all our SAP Business One clients as soon as version 10 is available. In the meantime, if you have any questions about the changes please contact us.

 

 

A lot of businesses depend on their ERP system to conduct business. Whether it’s SAP Business One, Sage 300, Sage 50, Odoo, or another ERP, critical data is processed and stored every day. These systems are powerful for managing business processes, but the built-in capabilities aren’t enough.

So many businesses spend hours and manual effort prepping data, launching ERP procedures, and other necessary activities to keep the business running smoothly. Many companies are looking at robotic process automation (RPA) help maximize ERP automation and reap the full benefits of an ERP system. ERP automation is also a way of ensuring data accuracy and keeping employees working on value-adding tasks.

 

Why Automate ERP

If we go back to the human jobs and the robot jobs, a human’s talents are much better used for jobs that require critical thinking and also creativity. Jobs that are customer-facing and strategic to your business need have to be done by humans. RPA can handle the robot jobs such as data entry, moving data from one place to another, also integration between applications. So sometimes, there’s an API that can be used for that integration and sometimes not. Sometimes we need to use the user interface and that’s where our bots or robots can come in and move that cursor and press that button just like a human was doing it. Robots do not make any data entry errors and they never need a day off. They can work 24-7. So a lot of our customers look at bots as assistants for their employees. That allows the employee to offload the mind-numbing work to that bot. So it really makes the workday more challenging. Again, they need to think and interface with customers but it also makes that workday a lot more enjoyable.

 

Not only do ERP processes need RPA to make them easier, but also to allow for business growth. If you’re bringing on 100 new customers per quarter, along with all their data, documents, and needs, you need a solution that can help you scale. No matter how much you give RPA bots to automate, they can keep going: nights, weekends, holidays, whenever. So you can grow without worrying that you’ll fall behind on ERP management.

 

Identifying Processes to Automate

How do you know what to automate within your ERP operations? Think about all the functional areas of your business. How could they benefit from automating ERP activities? Some common tasks where organizations use RPA with their ERP systems are:

• Inventory management: get automatically alerted when stock levels get too low or too high to maintain just the right amount
• Report generation: pull and send sales, financial, or customer reports as needed to the right people
• CRM to ERP data transfers: make accurate data the norm and take all the manual effort out of keeping your data current

 

Process Map and Optimize

Before you start automating, it’s important to create a process map to make sure you fully understand every step that needs to happen along the way. It’s not an improvement if you automate the process but skip a key step!

A process map should be like a flowchart, showing you how things are operating currently step by step. This is a great opportunity to see if there are any inefficiencies in the process or other steps that should be added. Make the most of your RPA implementation by improving the processes as you automate them. Automation is a great step toward ERP process improvement, but simply automating a bad process won’t get you as far as optimizing it will.

 

An investment for both the short and the long term

At some point, every legacy application will be updated, replaced or become obsolete, but until then, RPA provides the means for organizations to advance their technology forward with the adoption of Cloud ERP while continuing to leverage the critical functions the legacy application provides.

And when your organization is ultimately able to detach from its legacy application, RPA technology will continue to be of value to your ERP implementation, as we highlight here.

Contact us.

 

Odoo Accounting is a state-of-the-art accounting software that helps you accurately track your finances. It contains all the features you need for accounting, such as invoices & payments, bank reconciliation, reports, and more, but it also integrates with the rest of Odoo’s modular enterprise software to provide accuracy and ease.

Over our last decade of implementing business software solutions, we heard the same story from our customers again and again. They were using accounting software such as QuickBooks or even paper-and-pencil. It had been working well for them for years, but after hitting a growth spurt, they found that these methods just didn’t scale properly and led to accuracy issues.

 

Basic Features in Odoo Accounting

 

•  Invoices and Payments

With Odoo, you can create & send invoices manually from the Invoicing app or directly from the Sales app. You can split an invoice into multiple payments, or split a payment into its multiple invoices.

From the payments side, you can track and pay for supplier invoices, as well as employee expenses.

These different transactions can be made through credit card, payment gateway connectors, wire transfers, or by printing and mailing checks.

All this data directly integrates with the Odoo Accounting module.

 

• Reconciliation

Odoo Accounting also makes it easy for you to reconcile your invoices with your banks and other systems. You can integrate your banks (more on that further below for Odoo 12) and the system will automate reconciliation for you. When it’s not sure, it will make suggestions, speeding up your reconciliation process.

 

• Reports

Important to any business are accounting reports such as profit and loss, cash flow, tax audit statements, and more. Odoo allows you to easily create such reports from your internal data. You can also customize your dashboard so it shows charts and KPIs important to you.

 

Beyond the Standard Odoo Accounting Features

 

Occasionally, your business will have specific requirements that the standard Odoo Accounting does not cover. Here are just a few of the accounting customizations we’ve helped our customers with:

 

• Real-time WIP Journal Entries

Accountants would like to have an accurate count of where the value is in their business at any time. For manufacturing companies, it’s useful to know how much is in inventory, work-in-progress (WIP), finished goods, etc.

Odoo Accounting does offer WIP journal entries for manufacturing orders, but it processes these after production is over. As such, accountants only have accuracy based on the length of the manufacturing cycle.

 

• Automatic batch scheduler

When you’re batch processing checks, you eventually need to reconcile the multiple invoices on your system with your bank records. Though Odoo does batch deposits, we automated it so that the system would automatically reconcile those payments based on user-defined rules to create automatic batches. The system would run every 24 hours.

 

• Gift card accounting

Gift cards present some unique challenges from an accounting perspective. When you sell a gift card because the end consumer hasn’t actually spent the payment on a product, that creates a liability. When the consumer redeems the gift card, only then does it turn into revenue. At BTC, we customized Odoo Accounting for a client so that their gift card processes would work properly within their accounting system.

 

Why BTC for your Odoo Implementation?

 

Implementing ERP in right way is the key to successful business. A successful ERP implementation solely depends on the implementation partner you choose for your work. Being an official Odoo Partner, BTC have experience in building Odoo modules effectively. Today we pride ourselves on composing quality code. Additionally, BTC in -house highly skilled developers and designers with rich knowledge of programming dialects. We offer a complete and comprehensive Odoo implementation support to our client base.

BTC provides Odoo implementation services and covers  all the major industries like trading, manufacturing, e-commerce, accounts and finance etc.

 

Conclusion

 

At the end of the day, it’s important that your business has accurate accounting, but it’s also important that this comes with ease. Your accountants shouldn’t have to rummage through multiple software to try to tie things together.

Instead, with Odoo Accounting, your accounting processes are integrated with the rest of your business processes in Odoo’s application suite. Data flows from one module to another, and your workload is decreased.

If you’d like to improve your accounting systems, give us a call. We have years of experience implementing accounting and ERP solutions. Our accounting subject-matter-experts can consult with you and design a solution for your individual needs.

Contact using our contact form

 

 

 

 

RPA is growing exponentially. Recent RPA trends and forecasts report shows that by 2021, RPA will be $2.9 billion industry. That’s huge increase from $250 million in 2016.

In order to remain competitive in an increasingly saturated market – especially with the more widespread adoption of virtual banking – banking firms have had to find a way to deliver the best possible user experience to their customers. Internally, the challenge to maximize efficiency and keep costs as low as possible while also maintaining maximum security levels has also increased.

To answer these demands, Robotic Process Automation (RPA) has become a powerful and effective tool.

Robotic process automation has also dramatically streamlined a wide variety of back office processes that once bogged down bank workers. By shifting much of these tedious, manual tasks from human to machine, banks have been able to significantly reduce the need for human involvement, which has had a direct impact on everything from performance and efficiency levels to staffing issues and expenses.

Bank employee deal with voluminous data from customer and manual processes are prone to have errors. Banks around the world are considering RPA to minimize the manual processing of this huge data to avoid errors. Processing data manually also time consuming task. Simple validation of customer information from 2 systems can take seconds instead of minutes with bots. Introducing bots for such manual processes can reduce processing cost by 30% to 70%. Several processes in the banks can be automated to free up the manpower to work on more critical tasks. Some of these processes include:

Customer Service	Compliance
Accounts Payable	Credit Card Processing
Mortgage Processing	Fraud detection
KYC	General Ledger
Report Automation	Account Closure Process
Account Origination & Receivable	Surrender
Collection	Underwriter Support
Deposits & many more…

 

 

• Customer Service

Banks deal with multiple queries every day ranging from account information to application status to balance information. It becomes difficult for banks to respond to queries with low turnaround time.

RPA can automate such rule based processes to respond to queries in real time and reduce turnaround time to seconds, freeing up human resource for more critical tasks

With the help of artificial intelligence, RPA can also resolve queries which needs decision making. With the help of NLP, Chabot can understand the natural language to chat with customer and respond like human.

 

• Compliance

Banking being the center of the economy is closely governed and needs to adhere to lot many compliance. RPA increases productivity with 24/7 availability and highest accuracy improving the quality of compliance process.

 

• Accounts Payable

Accounts payable is a simple but monotonous process in the banking system. It requires extracting vendor information, validating it and then processing the payment. This does not require any intelligence making it the perfect case for RPA.
Robotic Process Automation with the help of optical character recognition (OCR) solution can solve this problem. OCR can read the vendor information from the digital copy physical form and provide information to RPA system. RPA will validate the information with the information in the system and process the payment. If any error occurs, RPA can notify the executive for resolution.

 

• Credit Card Processing

Traditional credit card application processing used to take weeks to validate the customer information and approve credit card. The long waiting period was dissatisfaction to customers and cost to banks. However, with the help of RPA, banks now can process the application within hours. RPA can talk to multiple systems simultaneously to validate the information like required documents, background checks, credit checks and take the decision of the basis of rules to approve or disapprove the application.

 

• Fraud Detection

With the introduction of digital system, one of the major concerns of banks is fraud. It is really difficult for banks to track all the transactions to flag the possible fraud transaction. Whereas RPA can track the transactions and raise the flag for possible fraud transaction pattern in real-time reducing the delay in response. In certain cases RPA can prevent fraud by blocking accounts and stopping transaction.

 

• General Ledger

It is mandatory for the banks to keep the general ledger updated with information like financial statements, revenue, assets, liabilities, expenses and revenue which is used to prepare financial statements. Financial statements are the public documents which are then accessed by public, stakeholders and media. Considering the amount of detailed information in the statement, error in the report can very badly affect the bank’s image.

To create the statement, bank needs to update information from the multiple legacy systems as these systems cannot integrate, verify it and make sure that the general ledger is prepared with no errors. With this amount of the data from the multiple systems, it is bound to have errors. RPA is independent of the technology and can integrate data from multiple legacy systems to present in the required format even if the data in the systems is not in the same format. This reduces the huge amount of data handling and time.

 

Get in touch with our experts  for banking automation in UAE and Qatar

 

Sage 50 is an easy to use online accounting software solution for small and medium sized businesses. Sage 50 offers features such as accounts payable, accounts receivable and cash flow management.

 

Know your Sage 50 Support options:

Having excellent Sage 50 Support on hand and readily available is vital as when you have questions and problems you will need an answer straight away to avoid downtime and other complications.

 

Compile a Monthly Sage Accounts Checklist:

By preparing a monthly sage accounts checklist you can make the process of doing your monthly accounts easier and more efficient. When doing your monthly accounts through Sage with your newly prepared checklist on hand you will be sure that won’t let anything important pass you by.

 

Know your Sage Function Shortcuts:

The Sage function keys are designed to save you time and effort in the often fast-paced office environment where time can regularly be in short supply. Sage key functions from F1 to F9 are all designed with specific shortcut functions such as F1 which when pressed will generate the relevant help topics for that particular screen or F5 which when pressed opens a currency converter in a numeric field and also a spellchecker in a text field. By learning off your Sage Function key shortcuts you will not only increase your speed efficiency but it will also make the work that bit easier for you.

 

Protect your data:

As the data stored on your Sage 50 Accounts can be of a sensitive nature it is paramount that your Sage 50 Accounts are not only secure but maintained regularly to ensure their security. A great way to protect your data and ensure its safety is to schedule daily backups so worst case scenario you will have the most recent copy of your data saved from earlier that day should anything go wrong. Backups can be scheduled through The Sage Accounts Backup Manager.

 

Sage 50 Accounting software helps to keep your accounts simple, which gives you more time to focus on improving your business. There are many reasons why choosing Sage 50 Accounts is the right choice, here are 5 great reasons:

 

1. Sage 50 Accounts can be setup quickly :

 

The process of setting-up Sage 50 Accounts is one that can be done quickly and with ease. Fully setting-up Sage 50 Accounts requires you to complete seven simple steps and from there you can customise to effectively match with your business structure. Sage 50 Accounts even offers a practice mode where you will have the ability to test changes, before you commit fully to making them.

 

2. The ability to effectively manage and control your businesses finances:

 

Sage 50 Accounts grants you the ability to effectively keep track of cash flow and to manage your cash, card and cheque payments. You can even download the free Sage 50 Accounts Mobile App, which will allow you to stay in complete control of all your finances,regardless of where you are.

 

3. The process of accurately calculating your VAT is simplified:

 

Sage 50 Accounts simplifies the process of managing your VAT, so that you can be confident that you are successfully complying with VAT legislation. To help you correctly complete your VAT returns, Sage 50 Accounts will provide you with easy to follow guides.

 

4. The ability to effectively manage your customers and sales:

 

Another ability that Sage 50 Accounts offers is the ability to manage your stock levels and also to easily be able to record any sales, raise quotes and invoices all in one simple click of a button. You will also have the chance to create invoices with a professional look and/or customise invoices with details such as your logo. Sage 50 Accounts also helps you to identify sales patterns and trends that may be appearing in your industry, thanks to a wide range of customisable reports. Outstanding customer invoices can be viewed with the click of a button and there is a selection of customizable letters & emails to use to contact customers.

 

5. Information to analyze and understand the performance and success of your Business:

 

The customisable reports in Sage 50 Accounts greatly help you to keep on top of your cash flow, by easily identifying who owes you money and who you owe money to. You can also run profit and loss reports that allow you to see just how profitable each particular area of your business is.

 

For more information on Sage 50 and our excellent accounting solutions please feel free to get in touch

 

The increment in technology has allowed organizations to significantly improve various processes through automation. In earlier times, advanced technology was accessible to leading organizations but the advent of cloud-based infrastructure has enabled small businesses and even startups to opt for such choices without much initial expenditure on equipment. HRMS  brings the best of every world for startups due to its affordable pricing and a vast variety of benefits.

 

Common factors slowing the progress of startups:

Since a business in its beginning stages has limited capital, it becomes extremely important to restrict the expenses. Hiring workforce can be tedious and reliance on human personnel can consume important resources of both time and money. Therefore, most organizations relying on traditional methods for payroll function, attendance tracking, employee management and other HR activities require large budgets despite working slowly. Employing traditional methods for attendance, payroll function and monitoring employees along with other management activities consume considerable manpower and money. In startups, it is also necessary for different departments to collaborate together towards achieving the mutual goal of the organization. However, traditional working processes only allow employees to communicate through occasional emails or calls leading to a lack of internal communication.

 

Human Resource Management System (HRMS):

This is a digital platform for information sharing developed by experts on a secured platform which is accessible only to designated users. Other than making the paperwork digital, these platforms can also be combined with integrated tools to improve communication and management functions within a company. Depending on the organization type and requirement, startups can customize the HRMS and increase efficiency in every department. HRMS platforms come with flexible protocols for verification of work and payments which can be used to instantly send files or invoices to higher authorities for inspection before approval.

 

Ease your burden

 

Start-up companies have to face a lot of challenges when it tries to stand strong in the highly competitive environment. Start-up businesses start with few employees handling multiple businesses and processes across different departments. One person may have to play the role of multiple job profiles. Making use of the payroll and HRMS software will help start-up businesses to manage their businesses more efficiently.

 

Why Our HRMS?

 

Do you have a process in mind? Do you wish to manage a business in a better way? The best option is to concentrate more on the core activities of your business and forget the HR and payroll activities. HRMS will take care of managing your HR processes and payroll calculations which is a tedious process and consumes a lot of time.

 

Our HRMS features

 

Applicant tracking, payroll processing, Human resource information, business information, data management solution, CRM, and many other features are integrated into HRMS. Without proper HR procedures and protocols, it is not easy to manage a start-up business. With our HRMS, every process of your business becomes easier and better.

 

Pools Right Talents Assuring Better Results

 

A human resource management software comes integrated with several managerial tools such as recruitment management, employee database management, employee payroll management and many more. Of the list, a major and significant part is the recruitment management system. A startup can be of great benefit from this managerial segment as the application tool helps in streamlining the recruitment process.

 

The HR software in place helps in creating inclusive job titles and descriptions for attracting the right and skilled talent.  This entices qualified candidates to apply for the position that easily scales with organization growth. Later the software also helps in easy assessing of the creamy layer via conducting structured job interviews, rating candidates on predetermined criteria’s.

 

The job doesn’t end here as some HR recruitment software remains self-reliant in performing adequate communication with the applicants. They automate the reply mail to the aspirant upon the selection/rejection.

 

Invest in HRMS today. Contact us for more

Customer service organizations turn to robotic process automation (RPA) to provide tactical and short-term fixes to digitize common, reproducible agent tasks. There are two forms of RPA:

• Attended mode RPA.These bots target the front office. They are invoked by agents in the flow of their work. In the case of an exception, the bot hands the work back to the agent to resolve.

 

• Unattended mode RPA.These bots autonomously execute scheduled back-office tasks that are picked from a work queue, like claims processing or generating invoices.

 

Customer service operations use both types of RPA. A task can start with an agent and be supported by attended automation, which can kick off unattended RPA to complete the process.

 

The contact center is a great workspace for RPA, as the applications that agents use are precisely controlled. As you broaden the scope of work that RPA handles, agent work shifts. Agents become more focused on the value-added work, as well as escalations and exceptions. You should plan for the following workforce changes in the next five years:

 

• RPA won’t necessarily reduce headcount.

  It will just make your agents more effective. Today, consumers contact customer service at an increased rate over a greater number of channels than in the past. RPA will allow you to keep up with ballooning interaction volumes by automating basic task work for every agent.

 

• RPA will focus agents on tasks that impact customer relationships.

  Companies release new products and services, with more complex features at a higher rate than ever before. Frontline agents take the brunt of the burden of change. RPA allows them to offload repetitive tasks so they can focus on upleveling their skills and nurturing customer relationships. Empathy burnout is a top concern, and contact center managers must plan for longer breaks and more varied work for their agents.

 

• RPA will make workplaces more attractive for new superagents.

  Agents supported via RPA can be trained more quickly, turning them into highly effective, highly knowledgeable superagents. One side benefit is that over time automation reduces the speed at which companies hire for growth.

 

• RPA will make you adjust your staffing.

  Reducing the handle time of interactions will affect workforce planners’ ability to forecast and schedule agents. And this will continue as automation improves and queries become more complex and take longer to resolve. However, Forrester finds that only 13 percent of organizations report that their workforce optimization practices have been impacted by RPA, and this is sure to grow as more customer service organizations adopt RPA more broadly.

 

Automate Credit Card Processing to Enhance Customer Experience

When it comes to credit card processing, an RPA can help by accelerating the whole process, and reducing the long waiting periods. Long waiting time not only costs the financial institutions hefty but also leaves the customers dissatisfied. RPA enables the banks to issue a credit card to customers within hours. An RPA can communicate with multiple systems at once, validate the required information, conduct background checks, and make a decision based on the rules to approve and disapprove the application.

All this will translate to:

• Reduced costs
• Streamlined operations
• Happy staff
• Digitized data
• Reduced business response time

 

Don’t overestimate the impact of RPA. RPA bots have the most value in automating tasks within processes for customer service. They are not the solution for redesigning and automating complete end-to-end business processes that are at the heart of a real transformation, yet, when used appropriately, RPA has a solid place in delivering tangible outcomes to contact centers.

Make the most out of the available technology, and introduce zero-error-methodology in your financial institute by employing RPA today! Got any questions? Contact us