”The secret of change is to focus all of your energy, not on fighting the old, but on building the new.”
-Socrates
Things have changed so much in the past 5 years, but many are still approaching their back office accounting like nothing’s changed.
As a caveat - employing full-time accountants makes the most sense in publicly-traded companies - when there’s high risk on performing & keeping the public markets happy, it’s wise to keep employing large accounting teams.
For all other types of businesses and organizations - I dare to propose to you that it doesn’t make financial and operational sense to keep employing accountants the way we used to.
Let me explain where that bold statement is coming from.
In most cases, processes should be streamlined and automated, and then managed by detail-oriented experts who are highly-knowledgeable in their skill and about the business. Any remaining manual, data-input work should be re-allocated to administrative assistants.
However, the status quo is to hire an accountant to do work that seems complex - which turns out to be a copy/paste, dull, manual exercise disguised as complex spreadsheets, in which the accountant manages for the next decade, all while milking the employee status - procrastinating reading the news, standing at the water cooler, sitting in pointless meetings - and all of that while being paid a relatively high wage.
As a contrast - imagine paying an expert to redesign your processes to where the dull, manual work gets done by the computer, the administrative inputs get done by an administrative assistant, and the expert tasks requiring judgment and “accountant” skill get concentrated into a small amount of work done by a high tech CPA.
Some companies and organizations are embracing this dream as reality, and recognizing great cost savings and increase in quality - I encourage you to consider implementing this for your organization.
If you’re unsure about how to do this, or can’t imagine how to transition existing manual processes from point A to the desired point B - let us help! We have a unique skill of being able to morph horrible processes into efficient processes, and it doesn’t require expensive consultants to accomplish it.
Email (support@hustleaccounting.com) or call/text (918-280-8035) us today - we’d love the chance to hear about your processes & help show you how this dream could easily become your reality!