How an online accounting software improved the operations of this organization

The Problem

The receipt, accounting and invoicing processes requires a significant amount of time and lots of paperwork. Therefore, the organization contacted Losintech with a request for creating a software solution to facilitate their accounting processes, minimize redundant and time-consuming paperwork to increase efficiency, accuracy, and enable simple and effortless processing and exporting of all accounting documents.

 

The Solution

After a thorough analysis, Losinech’s team developed a locally-hosted accounting software that digitalizes the process of recording, storing, and sharing receipts, invoices and accounting reports while eliminating manual data transfer and human error.

The solution allows seamless receipt & invoice management, importing and exporting reports, managing user roles & assigning privileges, processing payrolls as well as scheduling payments. The software enables effective people management, record management, photo capture, and access to stats and reports.

 

Impact

 

Five ways online accounting software benefits your small business

1. You have a clear overview of your current financial position in real-time. This allows you to make better business decisions.
2. Multi-user access makes online collaboration possible for your team.
3. Save time with bank reconciliations and checking historic reports. Update your general ledger automatically when you key in a new invoice or make any changes to numbers.
4. Everything is run online, so there’s nothing to install and everything is backed up automatically.
5. Analyse your reports better, in a way that you would not be able to without a software. Knowing your cost centres and profit drivers allow you to make strategic resource allocations.

Accounting is complicated, but it can be easy if you have the right system. Anglican Diocese of Aba and many other small and medium businesses have benefitted by embracing technology such as online accounting software.

Ready to improve your business efficiency? Talk to one of our Experts today.