Tech Trends: No finance team? Financial automation can save the day – and time

Routine bookkeeping is critical to keep your real estate or construction business running. In a highly competitive environment, you need to know what’s coming in and what’s being spent, and you need to know that now.

But bookkeeping can take precious time away from getting things done, and often plays catch-up with what’s actually happening in your business. Whether your finance team is struggling to keep up with growth or you’re on your own, an automated, cloud-based accounting and bookkeeping platform and team of advisors can make sure you’re not falling behind where it literally counts.

Growth and expansion can cause a capacity crunch

As the economy recovers, many real estate and construction businesses are seeing increased demand outpace their financial management abilities. MNP’s ease accounting and bookkeeping solution fills the gap by automating day-to-day tasks such as invoicing, payroll, or expense management. Transactions are completed quickly so you know exactly where you stand now, while our team tracks trends and provides actionable insights.

Having real-time information at your fingertips enables you to make data-driven decisions, quickly, ahead of your competition. Through ease’s automation, critical information is up to date and accessible, giving you the clarity, you need to plan ahead or make adjustments moving forward. Because the double-edged sword of growth is that without keeping close track, the actual costs of building up your business could eat into your profits.

Let’s say business is booming, your sales are up but you’re too busy to keep track of accounts receivable and payable. After several months, even though your revenue has increased, your cash flow hasn’t, and your bank sends notice about a defaulted loan payment. Ease enables you to see exactly how costs are impacting your bottom line so you can adjust your business model accordingly – before more damage is done.

Scaled to your needs

Our cloud accounting and bookkeeping service is scalable to your business, big or small, as a full-time or part time addition to your team. If your finance team shrank over the pandemic, ease provides support by taking over mundane tasks and reporting. If you are growing and need more detailed oversight but lack a finance team, leveraging ease and our advisors can provide the expertise you need.

To ensure you are getting the most out of ease, our team works closely with you in creating the rules and parameters needed for the program to execute properly. Each business has different inputs and outputs – extracting the data properly and getting it into the system is key to producing effective data.

The ease team then spends time learning how your business operates and what your goals to ‘teach’ the program how to interact with input data. This process is completed over several months to ensure a full range of transactions are logged, resulting in a sustainable solution that keeps up with your real estate or construction business as it evolves.

Get started on your next phase with ease.  Visit www.mnp.ca/ease or contact:

Shayne Dueck, CPA, CA
National Leader, Client Accounting and Bookkeeping Services
[email protected]
306.664.8315