Quantify cost saving from Financial Statement Bot

At our calculated average hourly cost of $56 and $69 for junior and senior staff labour respectively, time is money in accounting. Automated financial statement generation saves a lot of this time. Computations, casting, and moving excel calculations over to word are all tedium that pad the work of generating financial statements, adding to the labour costs of firms and to the exertion of employees. With reference to our working, automation can reduce this cost by around 80%.

But that’s not all, time is also a lot harder to replace than money. With more time on their hands, accountants can value add to their organisations to an even greater extent, aiming their unfettered expertise at more analytical work. This can include:

🔻 Supporting business decision-making with professional insights
🔻 Process and internal controls improvement; the accuracy of the data
🔻 More in-depth risk management for businesses
🔻 Personal improvement (courses, training etc.)

Finally, and most importantly, saving time also creates more space for loved ones and social lives. Everyone feels better and does better when they have these things going for them .

For more information on accounting automation, contact us now!