The True Cost of Workarounds
Spending valuable time performing tasks that an automated system could do can be costly, time consuming, and prone to errors. Workarounds have significant impacts on the quality of both financial and managerial accounting information.
Common offline workarounds include:
- Calculating indirect rates
- Job costing and reporting
- Creating labor distribution reports
If any of these look familiar to you, you could be in danger of a myriad problems. From undetected errors due to offline calculations to considerable losses in time and productivity, making decisions based on faulty numbers is more than poor business – it could also result in failing audits.
A Better Way
If you and your team weren’t bogged down by workarounds, just think what else you and your team could accomplish.
- Closing your books faster
- More productivity
- Higher confidence in financial data
- Better morale
- More new business
- More profitable projects
- …and so much more
Automating workarounds should be a no-brainer as well as good business sense. In addition to leading to unnecessary busywork, workarounds create nearly as many problems as they solve and leave you at risk of costly errors.