Do you TRUST your financials 100%?
By that we mean, are you confident that you can at any time transfer all modules to GL and see an interim Balance Sheet and Income Statement that you believe is at least 99% accurate?
If not, you might be surprised to learn that the solution is likely training for yourself or others.
Investing in your business can mean many different things, from putting in money for capital equipment, technology or personnel to just flat-out devoting more of your time and energy to the job. Once an AccountMate system is in place, the biggest payoff that we see is when businesses invest in the training of their employees—making people’s jobs easier, simpler, faster, and less error prone.
In a financial management system like AccountMate where the number of transactions is large, there are countless opportunities to post something incorrectly, or inefficiently via a convoluted method. And that impacts your ability to 100% trust your financials.
Signs that new training may benefit your people and your financials
- At iSOFT, we see client employees feeling inadequate or discouraged when they go down the wrong path and create more work for everyone because they aren’t clear on how to do things. It puts them in a bad spot.
- A common situation is that the user doesn’t understand how their task impacts other data and functions in the company. If they had training on the bigger picture, including on how data flows across AccountMate, they could prevent problems that would cascade into other departments and areas in the system.
- We sometimes meet new clients after their system has been installed and running for years, yet the beginning configuration was incorrect or not optimized for their business. Or it was optimized for their business back then, and the business has changed since then. Without good training, employees may not realize that the configuration could and should be updated to align with the current business.
- Even with excellent initial training, when you have personnel turnover then it’s easy to lose the understanding of why things are done the way they are. Instead, you have employees doing transactions purely because “that’s how we’ve always done it”—which might not be applicable today.
These scenarios result in financials that either aren’t correct or are labor intensive to straighten out at the end of the period when validating the financials. You lose the detailed visibility you need to effectively run the business and trust your numbers.
Training is an investment that will last for as long as the employee is part of your organization. It’s often the catalyst for new process improvements and innovation, too.
Why don’t you trust your financials?
If you don’t 100% trust your financials, take a moment to jot down the reasons you don’t trust them. Which areas make you hesitate? Where have you been surprised recently? What routinely gets out of balance?
Then reach out to us to brainstorm the best ways to train employees or make system changes to eliminate those problems—so that you can trust your accounting statements anytime at a moments’ notice and make the critical decisions necessary in today’s fast-paced world.