How FDs Can Use Software to Increase Revenue - Mitrefinch


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How FDs Can Use Software to Increase Revenue

Published: May 19, 2017

One of the primary aims of any financial director is to increase revenue for their business where possible, but too few FDs are aware of how software can help them achieve this. Far from being the remit of the IT department alone, software really can mean big bucks – music to the ears of whoever’s in charge of the purse strings.

Leave it to the robot

Automation is one way technology can help cut costs. Software can do the job of a human in the flick of a switch, where it may have taken hours if not days to do the same task manually. A dependable programme removes the risk of human error too, meaning there’s less chance that tasks will need repeating, also saving time and money. Not only that, but when it comes to accounts, software means no payments are duplicated and invoices are automatically paid on time, avoiding late payment fees.

Room for more revenue

With a finely tuned piece of kit taking care of the boring stuff, the staff in your business have more time to crack on with what matters – making money. Whether it be charging more for a quicker, more reliable service, or simply having time to service more clients or produce additional products, software has the power to improve productivity and provide you with more time to take advantage of additional revenue streams.

Time and Attendance software

When it comes to Time and Attendance, software programmes can relieve HR departments of mountains of admin work, allowing them to concentrate on higher level tasks, such as recruitment and training. With more time and effort spent on getting the right people with the right skills in place, your company’s productivity can’t help but improve.

IT teams are sure to be more efficient too for the same reasons – the right software can alleviate all manner of trouble for techies. Not only that, but it’s been proven that employees who are able to use software to take control of their own working patterns, shift swaps and holiday requests, for example, are less likely to be absent from work. With each day of absence per employee costing £455.95, and contributing to an £18 billion cost to the UK economy through lost productivity, there’s a lot of money to be saved!

If you want to find out more about how Time and Attendance software can help your business save money, download our free guide today.

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