Companies Make Switch to Accounting Automation

Companies Make Switch to Accounting AutomationCompanies Make Switch to Accounting AutomationDoes your company still rely on manual processes for accounts reconciliation? If so, youre part of a diminishing group. As more organizations make the transition to accounting automation, just over half (55 percent) perform their closing tasks manually - down three points from last year.Of the U.S. executives surveyed for Robert Halfs 2018 report, Benchmarking the Accounting and Finance Function, 22 percent said they use automation systems developed internally, and 23 percent are using third-party software for accounts reconciliation. The largest companies ($5 1000000000000 or more in revenue) are most likely to apply technology in accounting and finance tasks. Less than a quarter of them still manually reconcile.Accounts reconciliation takes a lot of time, one respondent said, and I could use the people working on that process in more high-value areas.GET THE BENCHMARKING REPORTExpanding aut omationMost of the automation in accounting and finance functions, according to the report, are in the areas of invoicing, data collection, report generation, document storage and compliance. Many firms also expect to automate processes such as financial planning and forecasting.One outcome of accounting automation is increased efficiency. Companies are also consolidating accounts as a result of automation.The benchmarking report shows the number of active general ledger (GL) accounts at companies is trending down slightly, with the largest companies seeing a notable decline in their overall number of GL accounts. Thirty-one percent of firms with $5 billion or more in revenue have fewer than 100 active GL accounts, up from zero percent a year ago.Other technology findingsMicrosoft Excel is still widely used by companies of all sizes for budgeting, planning and analysis, according to the report. Sixty-three percent of U.S. companies rely on Excel, down from 69 percent in 2017.However , as more teams embrace enterprise resource planning (ERP) for budgeting and planning, fewer companies - especially the larger ones - identify Excel as their top tool. The other leading types of business management software include IBM/Cognos, Oracle/Hyperion, SAP Business Planning and Consolidation.Cloud financial solutions also continue to rise. Three-quarters (75 percent) of respondents said they are using either online-based software and services, or they plan to do so in the future. Last year, 72 percent made that claim, compared with 62 percent in 2016.Unlike previous reports, the financial executives interviewed for this years benchmarking survey cited few or no reservations about using cloud technology. For many, the decision to move to accounting automation and the cloud is tied to digital transformation initiatives at their companies.The need for different skillsWith the convergence of all this new technology associated with accounting automation, a demand for new skills is presenting itself. Many executives cited a need to hire accounting and finance professionals with knowledge of cloud-based systems, experience with data analytics and ERP systems, and knowledge of artificial intelligence/robotic process automation.But the report also shows how much both hard and soft skills are desired in todays accounting and finance teams. For one thing, a broader range of communication skills enables them to participate effectively in cross-departmental collaboration, which is an integral part ofdigital transformation.Looking to hire professionals with accounting automation skills? Find out how we can help.

The Benefits of Working With a Staffing Firm as a Financial Consultant

The Benefits of Working With a Staffing Firm as a Financial ConsultantThe Benefits of Working With a Staffing Firm as a Financial ConsultantCurrent economic conditions and the persistent demand for finance and accounting skills have magnified the many benefits of working as a financial consultant. Organizations are working with consultants to access specialized expertise on-demand and to augment the abilities their full-time teams. This means opportunities are available for financial consultants with highly sought attributes who can work on a project basis. In particular, firms are looking for professionals whocan take on initiatives in accounting and finance and business systems.But leveraging the benefits of the current job market isnt always easy - especially if you decide to rely on your own network and resources. Working with a financial staffing firm to consistently find the right fit for your skills is a much more effective strategy.Finding more relevant assignmentsFinancial staffing firms have access to a vast network of employers looking for specific skills and talent. This gives you the opportunity to expand your job search to employers outside of your own list of contacts while looking for financial consulting work. The larger the network, the greater the chance of consistently finding assignments that are a good fit. Staffing firms also frequently hear about opportunities that arent advertised, and their representatives can serve as your advocate in the job market.They can relateConsultants who work with financial staffing firms are enlisting the help of experienced professionals who understand what theyregoing through. Its one thing to have a third-party organization help you look for relevant opportunities but a completely different story when that same firm also specializes in your industry. The people you work with at a financial staffing firm often have years of experience under their belts working in finance and accounting. This means that no t only will they be able to talk the industry talk and understand your objectives and challenges, but they can also provide valuable advice and expertise to help you find opportunities that highlight your strengthsand help you grow professionally.An advocate for your skillsStaffing firms do much more than simply help you search for job opportunities. They have a vested interest in your professional development, which means that in addition to offering expert career advice, many of these agencies also offer trainingservices that help you keep up with the rapidly changing finance and accounting fields.But more importantly, working with a financial staffing firm is like partnering with a third-party marketing organization to promote your professional brand. Going it alone can only lead to so many opportunities. A staffing firm is a way to enlist more people in your job search who care about matching you with the right projects.The advantage of specializationBecause of its focus and the experience of its professionals, a firm that specializes in your field can offer more opportunities than generalist firms. Once you register with a specialized financial staffing firm, you will gain access to an abundant schwimmbecken of resources. In addition to extensive job list databases for senior accounting jobs, interim management roles and consulting work, you can also consult a variety of research materials and sign up for e-learning courses that help you improve your job search and maintain a strong set of in-demand skills.Staffing firms also help you manage the routine administrative aspects of working as a financial consultant, such as obtaining access to health insurance and other long-term benefits. Additionally, these firms take care of the billing and invoicing processes and ensure you get paid consistently and on time. These agencies will also be of huge help during tax seasonwhen it can be tricky to keep track of a years worth of consulting projects.Visit our Cons ultants page to learn more about what to expect when working with a financial staffing firm and start looking for opportunities today.Related PostsCFOs Most Likely to Tap Financial Consultants for Finance and Accounting, Business Systems ProjectsConsultant Jobs Is Now the Golden Age?

Oops-Proof Your Resume Five Top Tips

Oops-Proof Your Resume Five Top TipsOops-Proof Your Resume Five Top TipsResume writing can be a challenging task to take on yourself. Theres a lot to consider when it comes to resume formatting, keywords and job descriptions. These are all important elements of a stellar resume, but you may be overlooking the little things that show your attention to detail, or lack thereof.A small typo can be a big turnoff to potential employers. Proofread your resume, cover letter and all supporting job search documents to avoid these common mistakes before submitting them to any posting.Spill Check, Spell Cheek, Spell Check.Read every word on your resume carefully. The Spell Check function in Microsoft Word will only spielblttchen up spelling and grammatical errors, not misused words. So, if you type too when you really meant two, Word will not recognize the mistake.Please try your call again later.You applied for your dream job and guess what- the company wants to interview you However, your cell phone number is off by one digit and the hiring manager is unable to reach you. Be sure to double check both the telephone number and email address listed in your contact information. Youll want recruiters, hiring managers and potential employers to have easy access to you.Punctuation Mistakes.Punctuation errors can disrupt the readability and flow of a resume. Missing or misplacing a period, colon, comma or semi-colon can easily confuse a reader. Make sure each punctuation mark is in the right distributions-mix and avoid using exclamation pointsYouve been working since 1898?Review the dates of your employment. We know you werent a Pharmaceutical Sales Representative at the turn of the century, but according to your resume you were marketing cutting-edge products to physicians at that time.Verb TensesThe description of your current role should be written in the present tense while the responsibilities you held at prior jobs should be written in the past tense. Check that you follow ed this rule closely and have not switched between tenses throughout the document.Did you make any of these common mistakes on your resume? After youve thoroughly reviewed it yourself, ask a friend to proofread your resume for you, too. Sometimes a fresh perspective can really help bring simple errors to light and give you the assurance you need to apply with confidence.close dialogAdvertisementclose dialog/* effects for .bx-campaign-1012255 *//* custom css .bx-campaign-1012255 */.bx-custom.bx-campaign-1012255.bx-type-agilityzone .bx-close z-index 2-ms-keyframes bx-anim-1012255-spin from -ms-transform rotate(0deg) to -ms-transform rotate(360deg) -moz-keyframes bx-anim-1012255-spin from -moz-transform rotate(0deg) to -moz-transform rotate(360deg) -webkit-keyframes bx-anim-1012255-spin from -webkit-transform rotate(0deg) to -webkit-transform rot ate(360deg) keyframes bx-anim-1012255-spin from transform rotate(0deg) to transform rotate(360deg) bx-close-inside-1012255 top 0 right 0 /* rendered styles .bx-campaign-1012255 */.bxc.bx-campaign-1012255.bx-active-step-1 .bx-creative *first-child padding 0width auto.bxc.bx-campaign-1012255.bx-active-step-1 .bx-creative background-color transparent.bxc.bx-campaign-1012255.bx-active-step-1 .bx-close stroke whitebackground-color blackborder-style solidborder-color whiteborder-width 1pxbox-shadow 0px 0px 0px 3px black.bxc.bx-campaign-1012255 .bx-group-1012255-3RBnJGC position absolutetop 50%left 50%transform translate(-50%, -50%)z-index -1.bxc.bx-campaign-1012255 .bx-element-1012255-wryzWV5 width 55px.bxc.bx-campaign-1012255 .bx-element-1012255-wryzWV5 *first-child animation-name bx-anim-1012255-spinanimation-duration 800msanimation-iteration-count infiniteanimation-timing-function linear.bxc.bx-campaign-1012255 .bx-group -1012255-me4p1bl padding 10px.bxc.bx-campaign-1012255 .bx-element-1012255-ZdLO37u width auto.bxc.bx-campaign-1012255 .bx-element-1012255-ZdLO37u *first-child padding 2px 4pxfont-size 10pxcolor rgb(255, 255, 255)text-transform uppercasebackground-color rgb(0, 0, 0)background-color rgba(0, 0, 0, 0.34).bxc.bx-campaign-1012255 .bx-group-1012255-lyDBLV9 width 900pxheight 550px