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Accounting Manager

There are different career paths that can lead to becoming an accounting manager, but all of them require high levels of education. A bachelor’s degree in finance or accounting is necessary, and a master’s degree is required for many management positions. According to Robert Half, the professional services and staffing firm, employers also often seek at least five years of experience and may require advanced licensure such as that held by a certified management accountant (CMA) or chartered global management accountant (GCMA).
Accounting managers are generally responsible for a team of accountants and report to a company’s chief financial officer or controller. Typical duties of an accounting manager include:
Preparing and reviewing ledgers and reconciliations
Maintaining the general ledger
Preparing financial statements
Assisting with regulatory reporting
Researching accounting issues for compliance with GAAP (generally accepted accounting principles)
Overseeing the budgeting process
Hiring, training, and supervising accounting staff
While each of the three careers examined in this article has their own set of skills and job requirements, many of the same themes can be seen in all three. Earning a master’s degree in accounting helps with developing interpersonal and leadership skills, building communication skills, and improving analytical thinking and problem solving — all abilities that employers value.
A complete and accurate accounting system — driven by a knowledgeable accounting professional — is crucial for any business or nonprofit entity that wants to provide value. Organizations must have a clear picture of their fiscal health and financial dealings. They must be able to react to changing market dynamics, tax laws, and financial regulations. They must have the information to make smart financial decisions that work to ensure operational success. A trained accounting professional can play a central role in all of these areas — and beyond.

What exactly is business process automation?

Business process automation is essentially just another aspect of digital transformation. It is therefore pivotal for businesses to adopt if they want to stay ahead of the game in the digital world. Excellence is no longer admired in businesses, it is expected. Business process automation is all about ensuring excellence is inevitable by using technology, instead of manual effort, to do repetitive tasks. The advantage of automation is that tasks can now be done a lot quicker and at a reduced cost.
Customers these days are just not happy with the slowness of manual processes because they have become accustomed to getting things done digitally – quickly and effectively. Just think about how frustrating it is when we have to do something manually or are forced to wait for something to be done manually for us. You don’t want to frustrate your customers, do you? The customers of today are used to efficiency, so if they don’t get that from you then they will simply go somewhere else. Customers are not as forgiving as they were in the past.

It will build customer loyalty

We’ve already established that business process automation will definitely be seen positively by your customers. Why? Because it almost always results in a better product or service for the customer. Some may be worried that the technological aspect of automation removes the human element, but this is not necessarily true. There are still many ways to ensure your customers still receive the human touch, which is important in building customer loyalty. Automation should complement the human-facing element of any business, not detract from it. Digitising your business will add value to your customers if it is used smartly.
One prevalent example of process automation is seen in marketing where customers receive timely, relevant communication related to their purchasing process. This is wonderful for building customer loyalty and a positive brand reputation for your business. But marketing automation is a whole topic on its own.

Putting these tips into practice can increase your company’s competitive edge, leading to sustained growth.

Build a culture with employees that embrace automation.
Employees are often reluctant to embrace automation because they’re concerned they’ll automate themselves out of a job. Yet in most businesses, the highest performers tend to automate the most, whether formally or informally. When you talk about automation, talk about the benefits to employees, both in their current functions and in how it will allow them to grow into higher-level positions.
Hire a Programmer
It’s important for business owners to stay on top of their accounts receivable, and one of the best ways to do that is to invoice early and often. But filling out and sending an invoice every time a customer makes a purchase can consume a lot of time. A programmer can automate and customize invoicing and reporting to meet your needs, which means invoices and reports go out on time, every time.
Create a Faster Response Time
Setting up an automatic process for leads will not only increase the customer experience but also allow for faster response times. Automate your incoming inquiries to directly drop into your CRM (example: Salesforce) and assign a representative immediately, so they can be alerted right away and create a faster response time.
Provide Contracts Digitally
Contracts provided digitally to your existing and future clients makes the execution of contracts traceable for both parties, shows the history of changes, and limits cumbersome processes like scanning/emailing or even faxing completed contracts back and forth to one another.
Automate Finances and Marketing with Digital Tools
There are dozens of online systems and software programs that have automated business functions. Accounting, website hosting, marketing communications, payroll and more have all benefited from programs and services that make it easier to manage business.
Making payroll is more than just cutting checks to your employees once a week. It involves filing the correct payroll forms with the IRS, calculating the right amount of taxes due, and paying those taxes on time. Payroll takes a great deal of time and if you make mistakes, you could pay heavily for them in the form of fines and penalties. There are so many options for businesses to automate payroll, time tracking, financial processes, and provide business analysis. Automating financing where possible allows your organization to focus on other, more time-consuming tasks.
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