3 Benefits of Multi-Company Accounting Software
Unlock the perks of multi-entity accounting solutions that allow you to automate a bunch of micro and small clients while still staying profitable.
Discover how essential workplace tools embedded in our cloud accounting software can empower and motivate your accounting team, leading to greater efficiency.
The days of getting ahead by working harder than everyone else are long gone. Working hard and smart is the name of the game now, with technology taking a front-seat in driving productivity and profits for all sorts of businesses.
In this article
Short answer: technology empowers people by creating better experiences in delivering their day-to-day tasks.
Nobody likes doing the same thing in exactly the same way every single day, even bookkeepers and accountants. Employees can only tolerate so much endless repetition and drudgery before they lose the motivation needed to do good work. When they are bored and disengaged, the potential for errors and mistakes increases. Moreover, bored accountants, along with those who are burnt out, are more likely to resign. Employees on the way out tend to care a lot less about making mistakes that could result in terminated contracts or penalties for clients.
This is why it is in the Managing Partner's best interest to empower accountants with technology and essential workplace tools that will not only improve productivity but also reduce boredom and disengagement by making repetitive tasks unnecessary.
A survey conducted in 2022 has shown that up to 50% of employees in Singapore want more training in digital and technology skills. This hints at what employees need to feel engaged and relevant: increased training and support. By giving employees the skills they need to effectively use technology such as cloud accounting, employers can ensure that their employees will continue to add value to the clients and the organization.
Cloud accounting software, also known as web-based accounting software, is a highly convenient Software-as-a-Service (SaaS) platform that enables work to be done from anywhere. This versatile workplace tool can be accessed by anyone with a computer and an internet connection. With the internet penetration rate projected to grow from 88.5% in 2020 to over 93% in 2025, and a wide range of cloud accounting software available, it's no surprise that web-based and cloud-based tools are widely used in Singapore.
However, when it comes to cloud accounting software specifically designed for professional accountants, the options become more limited. Typically, professional accountants are bound to cloud accounting software that operates on a tiered level, with restricted features and transaction limits. At Eleven, we eliminate these limitations by offering our comprehensive cloud accounting software with a flat per-accountant pricing, without any limits or restrictions.
Cloud-based automation uses cloud computing to automate tasks and processes. This can range from simple tasks to more complex ones to increase efficiency and accuracy. This can allow for the possibility of reallocating precious staffing hours, which could be put to better use. Eleven incorporates built-in automation such as automatic entry generation or automatic reconciliation to provide users with greater convenience and efficiency. Our cloud accounting software includes features your employees will love:
With Eleven, you’ll be able to grow your business alongside your clients and offer unbeatable reporting and advisory services with top-notch bookkeeping. Learn more about how our cloud accounting solutions are designed to benefit professional accounting firms.
Do you have questions about Eleven or are you perhaps unsure on where to start? Book a free demo with us or contact us by giving us a call.
See what Eleven can do for you
Book a personal live demo to see how Eleven can streamline your accounting practice and tasks.