BTerrell Group Blog

The Untapped Potential Of Connecting Finances And Human Resources

Posted by Brian Terrell on Mon, Nov 30, 2015

Many business owners and managers especially appreciate their accounting and human resources teams.  Many times you hire people for a particular skill set or special knowledge that make them a vital and valuable part of your business.  By connecting human resources processes with financial processes, you can further improve productivity, add more time-saving automation with timekeeping and accounting processes, and invest in your people which is an investment in your company.

In many cases, your employees can be one of your biggest assets.  You hire talented people with the education and experience needed to complete important tasks such as managing finances, tracking inventory, or working with customers.  Now, leverage their knowledge with the right tools to boost productivity and profitability.  Here are four ways that combining finances and human resources can take your business to a new level: 

  1. Reduce errors: Every time employees have to transcribe data from one software program into another a chance for mistakes is introduced.  The more programs that are being used, the greater the chance for data to be delayed, lost, or mistakes made during data-entry.  Integrating core business operations instead of using multiple specialty software solutions saves time and protects the integrity of your data.
  2. Optimize Intacct Dimensions: Intacct is a best-in-class solution that offers an innovative way to manage financial and operational data.  You can manage payroll entries, project accounting time entries, and timesheets with a simplified user interface and fewer keystrokes.  The faster you can enter such complicated data, the faster you can get back to strategically growing the business.
  3. Streamline general ledger entries: Intacct also offers time-saving automations with the general ledger, accounts payable, and cash management processes.  You can also allocate expenses much faster and improve compliance with regulatory reporting requirements including the Affordable Care Act (ACA).
  4. Automate timesheet entry: Timesheets can become complicated as employees work between different projects or departments.  Save time when managing both employee time and project accounting time and make sure that both payroll and invoices are completed efficiently and accurately. 

Open the doors to a new level of productivity by integrating finances with human resources activities.  Contact BTerrell Group for more information about the technology you need to realize this new potential.

By Brian Terrell of BTerrell Group, LLP, Intacct and Sage ERP & CRM provider based in Dallas.