When companies begin to expand into new markets and develop new product lines, a natural response is to hire additional staff. Yet that's not always the best way to handle growth. In fact, many progressive companies are focusing only on strategic hires these days, not individuals who are fulfilling rote tasks.
Take finance. When adding new entities or business units, there’s much more data to handle—from processing transactions to monitoring trends and creating reports. Yet modern financial software, such as Intacct, can take care of so much of this manual workload, freeing up resources for higher-level work that matches business objectives.
Recently, Intacct's CFO, Marc Linden, was interviewed by Financial Executives International (FEI). He discussed some of the downsides of hiring to support growth and how cloud-based automation is the optimal fit for the bulk of the clerical work that finance organizations need to manage. Watch the video below.
Check back next week when we will share a little more of Marc's interview and discuss some additional benefits of moving to cloud financial software.
Be sure to follow Intacct on all our social media channels, including Facebook, Twitter, and LinkedIn. Also... have you joined the Intacct Cloud Accounting group and the CFOInsights group on LinkedIn... they are a great place to network with other people interested in cloud financial applications.
Image courtesy of FreeDigitalPhotos.net