Automated Bots Archives

Top Features to Look for in an Automated Bookkeeping Solution

Traditionally, accountants have been responsible for data entry, report generation, and other mundane tasks. Using a digital solution frees up the talent to work on high-value assignments. According to Mordor Intelligence, the global market for digital bookkeeping stood at $12.01 billion in 2020. At a Compound Annual Growth Rate (CAGR) of 8.5%, it is projected …

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The Benefits of Automated Bookkeeping Services for Small Businesses

Bookkeeping

As an entrepreneur or a small business owner, it can be daunting to manage company finances. Rightfully so, as there’s already a mountain of tasks that founders attend to. For them, the first option is to hire a team of accountants that will spend countless hours entering data. However, accountants make mistakes, and managing the …

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Digital Bookkeeping: A Must-Have for Banks, eCommerce & Digital Wallets

Bookkeeping

Automation generally tends to induce a fear of job security in people. For accountants, it represents freedom from repetitive and time-consuming data entry tasks. Accounting is not a last-second effort to save taxes. Instead, it involves continuous planning and analyses for the optimal functioning of a business. Therefore, the monotony can lead to data inconsistencies …

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Staying Ahead of the Game with Cutting-Edge Automated Bookkeeping Solutions

Bookkeeping

Optimizing operational efficiencies is the first priority of every company. Which financial institution doesn’t want to look for ways to cut costs by saving time, especially during these undetermined economic times? As cost-cutting efficiencies are required in nearly every department of the business, AI has introduced automated bookkeeping software or also known as financial bots. …

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Revolutionizing Bookkeeping with Automated Robots: The Future of Accounting

Bookkeeping

Traditional bookkeeping is time-intensive, minimizes cost, consumes employees’ energy, reduces motivation, productivity, and efficiency. But why is there a need to execute tasks manually in the era of automation? Technology is advancing rapidly. According to “Accounting Services Global Market Report 2022” the market is forecasted to grow from $1.17 trillion by 2021 to $1.32 trillion …

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Are AI Bookkeeping Bots Taking Over Businesses’ Financial Processes?

Bookkeeping

Manual bookkeeping creates many problems like repetitive tasks, fraud, and theft of money. A large group of employees states that accounts payable is the most difficult task. Keeping a record of every financial transaction and preparing tax audit reports is hefty and time-consuming. So, automated bookkeeping software is the only way to overcome these issues. 79% …

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How AI Accounting Bots Can Simplify Pre-Accounting in Businesses

Accounting

In traditional accounting techniques, data accumulation takes greater effort and professional oversight. 60% of SME owners believe that their accountant may benefit from extra training in bookkeeping. There are many issues with traditional accounting that artificial intelligence has resolved. It now takes only a few seconds to compile all the statistics in hard copies rather …

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Bookkeeping Bots and Digital Transformation (Guide)

Bookkeeping

In times when digitization has become the new order of the world, manual operations are diminishing while converting into online systematic functions. COVID-19 mainly played a considerable part in urging business entities to find remote solutions that have now adopted a new norm. Even in digitization, multiple technologies, particularly Artificial Intelligence (AI) and Machine Learning …

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