Assessing Your Technology For A Changing Workplace

For all of the anguish that the pandemic has caused businesses, there is one silver lining. Stay-at-home orders have forced many companies to build their capacity for remote work. This new way of doing business not only helps prevent the spread of illness, it actually increases productivity and employee satisfaction. Remote work is so appealing that 3 in 10 employees would take a 10% pay cut to continue working from home according to a study by Global Workplace Analytics.

Whether you are planning extended work-from-home arrangements, bringing your employees back to the worksite, or are implementing a hybrid of the two, now is a good time to consider how to optimize your remote work model.

A good place to start is with the accounting department and a cloud-based system. It can help you maximize cash flow and reduce the costs of writing manual checks. It can provide round-the-clock access to data along with numerous instantaneous reports to support decision making. It can also free up capacity by making administrative tasks such as expense reports less time-consuming.

What processes should be virtual moving forward? Use this checklist and if you answer ‘no’ to any of these questions, Alloy Silverstein’s Cloud Coaches can help improve your setup or get you started, no matter the stage of your business’s life cycle.

Cloud Accounting Checklist

1. Were you able to invoice and get paid electronically?
2. Was it easy to search records to prepare your PPP or EIDL relief applications?
3. Were your accounting and payroll records accessible online?
4. Did your employees get paid on time without fail?
5. Did your AR/AP team face minimal interruptions or downtime?
6. Could your employees access your service and data?
7. Were you confident that all data was secure and backed up?
8. Did you have an accurate, real-time pulse on your cash flow on any given day?