As any small and medium-sized enterprise (SME) is aware, business administration tasks, such as expenses and timesheet submission and approval, takes considerable time away from the day-to-day running of a business. Recent estimates suggest we spend, on average, 4 hours a week on admin tasks. This equates to half a day spent, every week, which can quickly mount up to 24 days a year.
A way that any SME can reduce the burden of administration tasks is through digitisation and automation. Cloud technology has been integrated into most daily processes, from social media and email services to file storage and data backups. The flexibility, simplicity and control that the Cloud gives us has created opportunities to provide solutions for most administration tasks, saving time and money.
Before discussing the benefits of the digitisation, a quick look at the security concerns with digitisation and cloud technology.
Concerns with Digitisation Security
As with any new technology, there are concerns with cloud-based technology that should be addressed directly. The main concern people have with the Cloud is in relation to data security. The possibility of data breaches, data loss and account hijacking have been highlighted in the media. With the impending General Data Protection Regulation – which you can read about here – data security should be at the top of every organisation’s priorities list.
When you are entrusting your business data to the cloud, you need to be certain that your data is safe. When selecting a system, ensure there are adequate data protection and encryption protocols in place to keep your sensitive data secure.
Cloud-based solutions benefit from automatic software updates that are handled by your software provider and applied with no intervention needed. The servers that host your data are secured and updated by experts in data security, removing the need for your own data security experts.
With a true security procedure in place, your business can benefit from streamlined admin processes and focus on building customer relations, expanding and other day-to-day operations that make your business unique.
Pay for What You Use
Cloud-based timesheet and expense software has the potential to simplify administration processes as part of subscription-based packages that leverage the flexibility of cloud technology. These solutions allow organisations to add or remove users as they use the system instantly, keeping accurate records, while paying for only what is used.
Another benefit to cloud technology is the removal of costly installation fees. With no need to install hardware, the only cost associated with cloud technology is the hosting and the software itself, which is normally sold as a cash flow-friendly subscription service.
No Room for Error
A timesheet and expenses system should be designed to minimise the risk of human error and therefore reduce the time spent checking for incorrect data submissions. Even the most comprehensive Excel based process for recording time and expenses does not match the usability and accuracy of an employee management software solution.
A timesheet and expenses system should allow you to upload your historical data for a seamless transition. No system can remove the risk of error completely, but a timesheet and expense solution should be able to considerably reduce the risk while simplifying the correction process.
Deliver your Brand Consistently
Employee management software ensures that timesheets, expenses and invoices are submitted and approved consistently, within the template of whichever system you use.
This delivers a harmonious and professional approach to an organisation’s communications, both internally and with customers.
By creating a reliable paper trail, admin processes are simplified and compliant with regulation. This means that you can focus on simply inputting your data and letting the system organise, format and present your data in one central location.
Benefits of Reducing Admin
The main benefit of automation and digitisation of your admin processes is the reduction in time spent on these tasks. By spending less time on essential, but not value-adding, administration, you can spend your time more effectively, boosting productivity and concentrating on your day job.
As an SME, planning for the future is essential. Using a cloud-based system is scalable, with pay-as-you-go services that reduce costs long-term. It also means that as you grow, your solution will grow with you, rather than scrolling continuously or expanding your Excel spreadsheet.
As with all new technology, the implementation of any cloud-based system, will require a little time investment to understand the system functionality and explain new processes to staff. Businesses find, however, that the benefits are well worth the effort and benefits are realised quickly.
For information about Data Clarity’s timesheet and expenses solution which includes up to 9 levels of department heirarchies, contact our team today.