

Down The Report:
Guide to Payables Automation
More Accurate Reporting While productivity is an important reason for accountants to embrace automation, human nature also carries some of the blame for automation’s continued rise in this profession. You see, just as humans driving increases the likelihood of car accidents, humans using accounting software increases the likelihood of accounting accidents. Technology and artificial intelligence are relatively free of human bias and are not influenced by distractions that can lead to typos or rounding errors. Of course we all strive to be perfect in our work, but the reality is that perfection is impossible. Humans make mistakes and automation can help reduce room for error. More Focus On Delivering Insights From Data As automated systems and workflows reduce the amount of repetitive grunt work, accountants spend less time tackling routine tasks and more time applying analytical thinking to unlock insights. Though software will almost certainly assist in delivering insights, there’s still no replacing the value that an accounting professional brings to the table when it comes to turning data into valuable insights. Wrapping Things Up When you recognize that the work of a finance professional goes beyond number-crunching, you can quickly see why it will be challenging to automate the role entirely. While we agree with the experts that repetitive tasks will be replaced by automation, we believe that this level of automation will amplify talent rather than replace it. At Teampay, we’re striving to automate processes that are repetitive, so you can focus on things that matter. Our virtual card platform makes it easy to give credit cards to employees, track their spending and ensure that spend management results in transparency and accountability within your company. If you’re interested in learning more about the functions that Teampay is automating to make your life easier, don’t hesitate to get in touch. We’d love to hear from you.