It’s Newton’s third law of motion – every action has an equal and opposite reaction. In layman’s terms, what goes up must come down. The COVID-19 pandemic is the same way. Eventually, the outbreak will end, and when it does, it will have left its mark on all aspects of life. In fact, it already has. The sudden influx of employees working remotely proves that flexible hours and remote work does not lessen employee productivity, and a business can still be run effectively without people physically going into an office.
And it’s not just work hours or location that the pandemic will forever change. The current economic situation has forced companies to fundamentally reexamine the way they operate, and make adjustments as needed to keep going through this challenging time. Accounts payable departments are a good example of companies reassessing their policies and procedures. Even today, most businesses still use paper-based or inadequate electronic systems to manage their accounts payable, despite the lack of automation and accuracy. Already a bane of any employee’s existence, the shortcomings of a manual system are readily apparent when most of the workforce is working remotely. Some employees may not have access to the necessary paperwork or data entry systems. Filling out said paperwork is tougher with reduced manpower, not to mention the approval process taking longer. The sudden influx of employees working remotely proves what we already know – paper is not the solution.
It seems natural that more and more companies will switch from manual accounts payable systems to automated solutions. Not only are they faster, more accurate and cheaper to use, but being cloud-based allows users to access them from anywhere at any time. Plus, it eliminates paper, saving both money and the environment with just a few clicks.
Only time will tell just how much 2020 changes the way we live and work. But one thing is certain: the world will never be the same. To learn more about financial automation, call us at 412-858-1111 or visit us at https://www.expenseanywhere.com/.
