The challenges of operating successfully when most employees are working from home are often felt keenly by accounting departments. If your organization has been putting off beginning a digital transformation or has only taken the first steps, you will find that what once was a nice-to have technology is now a must-have. It’s time to implement digital workflows to share documents securely, automate approvals, increase accountability and improve transparency.In an article in the International Tax Review, Vaida Lapinskiene, Partner at professional services firm Ernst & Young, explains that accounting teams can look at the Covid-19 crisis as an opportunity to increase their agility if they implement digital processes. “Once the business functions were shifted from a single work location to homes, the need for clearly defined and documented end-to-end processes emerged. The option to casually meet and resolve any matter has disappeared and more formal protocols must be observed to run business and financial processes as usual,” she says.
How does automated workflow bring distributed accounting team members together?
You can use a digital workflow to bring multiple team members together to review an invoice and approve or reject it. These workflows can be serial (one step after another), parallel, or they can change based on decision points chosen along the way.
Working from home without the hassle