KriyaGo - Blog #business automation

7 Reasons Why Your Business Needs Accounts Payable Automation

Wed, 14 Sep 2022 09:00:00 -0400

There are multiple layers of work in an Accounts system. Accounts Payable is probably one of the most crucial parts of it. It is what runs the cash flow of the company and determines your expenditure. From invoice tracking, recording keeping, processing and clearing payments, it has many different aspects.

When the bookkeeping season starts the process becomes even more hectic because of a lot of extra work to close books. It can become extremely hard to keep track of all accounts if your business is set out for growth. But you also can not afford to miss out on payments to avoid conflict. An automated Accounts Payable system is the best answer to this.

7 Reasons why an automated Accounts Payable system will work for your business

Are you overwhelmed by the increasing and complicated accounts payable lists of your company? Then outsourced accounting services might be the best solution for your business. KriyaGo’s back office accounting services can help you automate your system. We will guide you every step of the way and make the transition smooth and hassle-free. Pick up a call with us today and discuss your business needs with us. This will ease the life of your back office employees and you can reassign them to better front office work.

Here are a few of the reasons why you should start automating the accounts payable system immediately.

1. Save overhead cost

When you automate and outsource your Accounts Payables you get expert help when needed. Highly skilled professionals will work on your account and there will be no chance of discrepancies. Why is this important? Not only do you not have to pay for these experts throughout the year, but these people will also give you valuable insights. Your in-house semi-skilled team might not be well equipped with the minute industry knowledge and will reflect in your bookkeeping if you don’t take charge. These insights will also save you from further penalties.

More than 60% of companies feel that they have very little knowledge of accounting and that is the crux of the matter. You need to identify your weakness and get back office outsourcing services to address the matter.

2. No chance of losing manual invoices

If you have an automated system then both your invoices and payments will be electronic. This leaves no chance for disparities and loss of documents or money. As many as 64% of businesses across the world insist that they want to shift to e-payments to avoid the hassle.

The automated system will not need you to process each payment individually and there will be no delay. You shed the load off your back and reassign your staff to other work. Get the heavy lifting accounting work done by the outsourcing partner.

3. Complete track of all transactions

When you do things online or in the cloud all transactions have history and evidence. There is hardly any chance for fraud or missing cash in such systems. There can be no financial fraud because all payments in an automated system are approval based. No transactions can work without the authorities giving a go-ahead, saving you the headache of money loss.

When the system is automated you also have evidence of who authorised which payment making the process hard to breach.

4. Get easy and quicker approvals

When vendors are breathing down your neck, getting manual approval on each invoice can become a hectic task. When all the invoices are uploaded in the automated system you can get approvals on the go and process transactions in a few clicks. You can also process approvals and payments remotely without physically being at your office desk.

5. No chance for human errors

Human errors in the Accounts Payable process can lead to a lot of double payments or non-payments due to gross overlook. Any vendor or supplier is bound to lose trust if they do not receive payments on time due to minor errors by your accounting team. To avoid such bad business you need an Accounts Payable automation system in place.

The data tells you why. Market statistics say that a business that depends on automated system accounting is 33% more likely to pay their Accounts Payable on time than manual ones.

6. Benefit from early payment discounts

There are many vendors out there who give early-bird discounts to loyal customers. You can reap the benefits of this with an automated Accounts Payable system. Re-evaluate your strategy and leadership well and understand how this can save money for you. Vendors provide as much as 1.5-2% of average discounts on early payments which means you can add them up and save thousands of dollars at the end of the year. The same survey also reveals that more than 62% of vendors want to be paid early. You can leverage this data with an automated Accounts Payable system to spend less money.

7. No legal or audit issues

As an automated Accounts Payable system works in a systematic manner there can be no delay in payments. All transactions work on their own based on set dates and other criteria. You can land into legal or audit issues due to non-compliance with regulations. The analysed data will be quickly ready on the automated system and can be readily produced in front of audit enquiries.

KPMG findings also say that audit and tax are making a digital shift all across the world, post-pandemic. This means if you automate your accounts system then the whole system will be easier for you as well. Audits will no longer mean sweating over discrepancies in Account Payables and Receivables and an easy end to the tax season.

Final Thoughts

Research data says that when a company automates their Accounts Payable process it cuts down paperwork significantly. It also increases the work efficiency of employees when the tedious data entry is lifted off their shoulders.

Handling this humongous and complicated process on your own is troublesome. You must get outsourced accounting services to simplify it. We at KriyaGo are waiting to help you get your Accounts Payable system automated and error-free. Want to know the minute details about how it works? Book a free consultation with and talk soon.

7 Mistakes You Should Avoid While Automating Your Accounts Payable

Wed, 13 Apr 2022 10:00:00 -0400

Amidst the pandemic and the sudden growth of tech use in business, companies across the world are automating their back office work. From cutting costs to getting faster results, an automated system can have a lot of advantages. One of the biggest areas of interest is the automation of Accounts Payable (AP) to avoid loss of funds and monetary discrepancies from human errors.

According to Business Insider, anautomated Accounts Payable process cuts costs by 81%.That is some big savings to push you towards automation.

Maybe your business is actually ready to take the first step towards automating your Accounts Payable system. But there are multiple pitfalls in the process that you might not be prepared for. These might actually turn out to be really costly mistakes when it comes to the future of your company.

7 mistakes you must know about while automating your Accounts Payable

What exactly are these pitfalls that can become grave mistakes? How do you know them and make plans to avoid them? Worried about the next steps? Read on to get a better grasp of the situation.

1. When you don't know your "must-haves"

It is a great development that you plan to automate your accounting system. But do you have a list of what you actually want to gain out of an automated accounts system? If you do not know how an automated AP can benefit you, and you are starting it to get in trend. Then you are in for a real loss.

What to do about it?

Make a detailed cross-departmental checklist. You need to highlight your goals from an automated AP. You also should know your “must-haves”, the features you want your automation system to have. This will help ease the way forward.

2. Not adding up the present cost and time used in manual AP

You must know what time, labor and money that was spent on manually doing your AP before you go into an automated solution. Why? This will help you understand what kind of software you need and the impact of automation on your ROI.

Guess what? Data says the US companies which have an automated AP save as much as 71% more on time.

What to do about it?

Make a detailed study, cross-check all data internally. Understanding these will help you be at a point of advantage when you negotiate with an automation software provider.

3. Poor technology selection

Data says companies pay more than $9 per manual invoice and only $1.77 when AP is automated. But choosing the wrong technology solution for your business will leave you with a bad system and draining funds.

What to do about it?

From the ease of use and also analysing to see if the automation software is compatible with other software in your system. You need a good selection of technology in project management to do this.

The KriyaGo accounting professionals have years of experience in this field. From the best technology selection and customisation for you to leveraging this for growth, we do it all.

4. Not planning the future needs of the software integration

If you spend money to integrate software into your system then its use is not just for today. Your future business plans will also bank on this. If you do not follow a proper work structure, you will never know what your business's actual needs are.

What to do about it?

You must have the right roadmap for your business. Then only will you understand if your software is good enough to keep up with your business scaling plans. As your small business starts getting more clients, invoices and data is bound to increase, you must ensure that your automated system can handle that.

5. Not having all employees on board about automation plans

It is a major blunder to not have all stakeholders of the company agree to your automation plans. This is an inter-departmental system and their cooperation is crucial for a seamless operation.

What to do about it?

Individually talk to all members and get valuable insights on your automation plans. Understand the needs of other departments that might indirectly help in bettering your AP process. Address their concerns directly and give them a detailed understanding of your plans.

6. Not red-flagging fake invoices

It is a major mistake to get an automated AP system that doesn’t identify and alert you on fake transactions. Research believes that more than 50% of small businesses are at risk of getting fake invoices and eventually making extra payments.

What to do about it?

Get your AP software vendor to make you understand their fraudulent invoice identifying process. If you get outsourced accounting services to automate your AP you can hold them accountable. You can even get it customised to fit your requirements.

7. No clear invoice screening and payment process

Vendors and suppliers have innumerable ways to send invoices, from physical mails to handwritten sheets of paper and even e-invoices. Your automated system must have a screening and payment process for all kinds of invoices. Otherwise, you will be left with a jumbled system of doing half the work manually due to some incompetent software.

What to do about it?

Plan out the invoicing system in your organisation. Either get all your vendors to sign up for e-invoices (which is almost impossible) or get a customised automated AP provider who will process all kinds of invoices.

Final Thoughts

More than 44% of businesses are now looking to automate their AP process. This will help them cut costs and save time. But you must know your needs and prospects inside out to make a sound purchase.

You can avoid these mistakes by getting outsourced accounting services from KriyaGo. Our team already has access to all the platforms you need, you can simply leverage the ones that work best for you to get your work done. Book a call with the expert consultants of KriyaGo. Talk to us today, help us help you grow your business by automating your Accounts Payable system.

Why You Should Use VoIP For Your Business Calls

Wed, 10 Nov 2021 15:26:48 -0500

If you are looking for a reliable communication system for your business, you have probably heard about VoIP systems. As the name suggests, VoIP or Voice Over Internet Protocol uses the internet to make phone calls. More than one-third of businesses already use VoIP due to its cost-effectiveness and productivity.

Regardless of the size and type of your business, VoIP systems can be an excellent choice for their numerous benefits. If you are considering VoIP systems for your office, read on to know about how they can help your business.

Greater savings

The primary benefit of implementing VoIP is the low cost as compared to other phones. Traditional phone systems require wires to relay phone data from the caller to the receiver. As the number of wires increases, the calls also get more expensive. The price of each call also increases along with the distance.

But VoIP needs minimal equipment as the service provider hosts most of the infrastructure. This means you will have to set up little to no hardware, especially if you choose cloud-based VoIP. Usually, your mobile phones and computers act as softphones through a VoIP application. You can also use your old desk phones for VoIP, which adds to the cost savings.

Additionally, VoIP calls are independent of distance. You can place a call within your area or outside your country, the charges will be the same. This is because VoIP uses the internet instead of a wired network to make those calls. Telzio estimates that companies can save over 50% of their telecom costs by switching to VoIP.

Ideal for remote work

Recently, many employees have started working remotely due to the pandemic. A Nextiva survey found that 1 in 3 companies have teams that work remotely. Communication over the phone and the internet has been key to managing remote teams. But, is it possible to make your company communication system for all your remote employees?

Traditional phone systems have limited mobility. It was almost impossible to use the same business numbers at remote locations without services like call forwarding. But businesses that used VoIP could easily make this transition.

VoIP works mostly through phone apps which makes it accessible from anywhere. These apps display your business number regardless of the device it is used from. For example, consider using your phone for business calls during remote work. By placing your calls through the VoIP app, the receiver will see your office number instead of your personal one.

More than just a call

VoIP systems come with extensive features that are suitable for small and large businesses. One such feature that is commonly used is the conference call. VoIP comes with built-in features that allow you to call multiple people at once. In addition to video conferencing, it also lets participants share documents and files within the call, making the discussions easier and fruitful. This feature is especially beneficial as more businesses are relying on video calls for office communication.

Another popular feature used by over 77% of businesses is the find me/follow me feature. Through this, you can ensure that your business calls always reach you, no matter where you are. The find-me/ follow-me service directs business phone calls to a single device or location.

For example, if you are away on a vacation, you can direct the calls to your personal phone without purchasing additional equipment. All you need to do is set up the VoIP app on your phone and choose to take calls on your device. You can also direct calls to multiple devices, which is helpful if you often work from different locations.

Better call quality

A common misconception is that calls over VoIP have poor voice quality. This might be true if your only VoIP experience is through free calling services. These services are only meant for personal use and cannot provide the quality required to make professional calls.

But paid VoIP systems are different. They are built to support business calls which means longer distances and better quality. As long as you have a reliable internet connection, you can sail through both video and voice calls with minimal disturbances.

Additionally, VoIP systems also come with features such as noise suppression and voice activity recognition. This ensures that any background noise does not interfere with your call, making it a better experience overall.

Higher scalability

Growing businesses need to ensure that their business systems can adapt and grow with them. But traditional phone lines are simply very difficult to scale. If your company has additional communication requirements, you will need to add more devices and lines. Scaling such systems not only costs more but also requires additional space.

VoIP systems provide hassle-free scaling options. Adding more devices is as simple as installing an app and completing the registration process. This can be done within a few minutes at little to no additional cost. Moreover, you can scale across several geographical locations using the same number.

Efficient data usage

VoIP uses features like voice detection to save data during calls. About 50% of every telephonic conversation is silent, which lets VoIP systems save about half the amount of data used by traditional phone lines. Voice detection activates data transfer only when someone speaks into the line. This means better use of bandwidth and higher savings.

Highly reliable

Unlike traditional phone lines, VoIP systems come with many alternate options in case your primary communication system fails. For example, if your desk phones fail due to an internet outage, the calls can be directed to personal phones so you never miss an important call. VoIP poses a lower risk of communication failure by reducing the dependency on a single system.

Next steps

Using VoIP aids in clear and crisp business communication. If you want to upgrade to VoIP for your business, then finding the right service provider is essential. KriyaGo can help you implement VoIP systems by providing every resource that you require. Our experts have already helped several clients successfully implement VoIP for their businesses.

We assess your requirements to find the most suitable solution for you. Our experienced staff will provide you with the required assistance to make the most out of your VoIP systems. Our unique strategy helps clients make the necessary improvements to reach their target goals through VoIP.

Want to implement VoIP at your office? Book a free consultation with KriyaGo!

How To Use VoIP Calls In Your Business

Fri, 10 Sep 2021 09:00:00 -0400

With the advancement in technology, more companies are implementing VoIP for quality business communication. A survey by Software Advice found that most companies preferred VoIP over other forms of communication systems. The cost-effectiveness and high reliability make it one of the best systems for your office.

Choosing the right VoIP system requires thorough research and planning. Without proper guidance, upgrading to the VoIP system can look complicated and tedious. If you are unsure about where to start with VoIP implementation, then our guide will help you.

Determine your VoIP needs

Your VoIP requirements depend on your business goals as well as your current infrastructure. Some VoIP features let you use existing equipment while some others require additional tools. You need to determine the following requirements to set up the VoIP system for your business.

The number of users

Determining the number of employees that will use your office VoIP can give you an estimate of how much equipment you will require. For every additional user added to the system, you will need a new line and phone set. But, not every employee needs to be on your VoIP system. According to PCWorld, a business saved about $1200 per month with just 30 VoIP phone users. You can also choose to give employees an extension, instead of their own number and line.

Features

VoIP phone systems come with a lot of different features. According to Finances Online, some of the top features of VoIP are the find me/ follow me function (77%), conference calling (65%), and managing messages (63%). Depending on your business needs, you can choose what to include in your VoIP system.

Certain features like conference calling are in high demand due to the increase in remote work. Similarly, the follow-me option is also helpful if you frequently work from different locations. Instead of having a large number of fancy features, include only those that actually add value to your VoIP system.

VoIP budget

The costs of VoIP differ according to the plan you have chosen. On average, VoIP costs you between $20 and $30 per user per month. Due to a large number of features and attractive plans, it is easy to overspend when planning your business communication system. Having a budget helps you focus on what’s important and spend only on what’s essential.

Set up your VoIP system

Now that you have determined your overall requirements, you can set up your VoIP system for your business. For a VoIP system to work efficiently, it needs the following technology and hardware.

Internet connection

As the name suggests, VoIP runs on internet protocol. A high-speed internet connection can provide excellent call quality. Despite the dependency on an internet connection, a VoIP system does not take up much bandwidth. The minimum download speed for a single VoIP call is less than 0.5 Mbps.

For each voice line you add, the required download speed multiplies. So, a system of 10 phone lines will require a download speed of 5 Mbps. It is better to have higher bandwidth to accommodate additional lines. A congested bandwidth can compromise the overall system quality and efficiency.

Phone system

There are several ways you can make phone calls using VoIP. While desk phones are common, more than 50% of businesses use a combination of fixed and mobile phones for their VoIP calls. Some common ways to set up VoIP phone devices are:

Modifying regular phones: Convert your regular phones into a VoIP device by installing an adapter and connecting it to a LAN.

IP Phones: Ip phones can be directly connected to a LAN. Some IP phones also let you place calls over a WiFi network.
Computers: You can make VoIP calls through your computer by installing a web-based application in it.
Mobile Phones: Similar to computers, you can make VoIP calls through mobile applications.

Training

A VoIP system is as efficient as its user. If your staff does not have adequate knowledge, then your VoIP implementation will be unsuccessful. Provide adequate materials to your employees and train them to use different VoIP features.

Configure your VoIP system considering the needs of your staff. The easier it is to use, the better will be its performance. Constantly interact with your staff in the initial period so they can seamlessly use the new technology.

Backup

VoIP systems are extremely versatile and have a low risk of failure. Yet, for more than 19% of businesses, VoIP reliability is a top concern. Prepare for the worst case scenario by having the right backup options.

The first backup you will need is an additional broadband connection. This prevents your VoIP system from shutting down in case your primary connection fails. Additionally, decide where your calls get directed if your office system fails. Directing calls to your personal phone is an excellent option in case of emergencies.

It is also important to prepare your employees to handle any system failure. This prevents panic and helps you get your communication system on track as fast as possible.

Test your VoIP system

Even with a well-planned VoIP strategy, it is essential to test your system for any potential problems. Recreate several real world scenarios to check the performance of your VoIP system. Does it perform well during high call volumes? Does your internet connection have sufficient bandwidth? Troubleshoot any problems you find so your VoIP system runs smoothly.

Streamline your business communication throughout KriyaGo

Selecting the right service provider makes VoIP implementation easier. KriyaGo works with the top VoIP service providers to help you set up your own channel. Our experts carefully assess your requirements to suggest the right strategy for you. Our high-quality service ensures that you have the best VoIP experience.

We also take care of your data security and privacy by setting up private VoIP networks. This is more convenient, easier, and reliable. Our experts help you throughout the process right from strategy to implementation.

For high-quality VoIP service, contact KriyaGo!

How Low-Code and No-Code Software Can Help Your Business

Sun, 25 Jul 2021 19:00:00 -0400

Low-code and no-code software are meant to build tools for business automation. Unlike traditional software, these tools require little to no coding knowledge. Instead, they use simple features to enable non-IT developers to build applications.

Just like their names, no-code requires no coding whereas low-code requires little coding for app development. In the coming years, the low-code/ no-code market is expected to see tremendous growth. A report by Forrester projects the low code market to reach $21.2 billion by 2022.

Companies need to start utilizing these platforms to build simple tools for automating various business tasks. Before getting started, understanding the advantages and applications of both platforms can make automation easier for you.

Advantages of low-code platforms

Faster and easier software development

Since these platforms require zero to minimal coding, developing tools using them is much faster. Low-code/ no-code platforms help you:

Simplify software building through drag-and-drop functions and flowcharts.
Eliminate the learning curve as no knowledge of coding is required.

Make easy changes through one-click processes

Through these features, you can easily make software without coding knowledge.

Wider resource pool

Through low-code/ no-code platforms, non-IT people can also assist in app development. Instead of hiring IT experts, you can allow your employees to build apps that suit your business requirements. Many citizen developers with brilliant ideas also build apps through such platforms.

Business agility

As market trends change, a company’s software requirements also evolve. Low-code/ no-code platforms allow you to make quick changes in the software. Whether it is current trends or a customer request, you can add and remove features to make it more convenient. Without disturbing the code, you can make simple alterations in the software’s structure to suit your requirements.

Save on costs

Companies rely on full stack developers for building and maintaining their software requirements. The average annual salary of a full stack developer in the US is above $80,000. This can be expensive especially for small businesses. Through low-code/ no-code platforms, companies can get equivalent results at half the costs. Even full stack developers can use these platforms to complete mundane tasks while focusing on other important ones.

Higher productivity

These platforms allow you to skip repetitive and unimportant coding. Through their various features, you can build custom made applications. This improves the productivity of your developers as they can work on more complex code. It also lets you tweak your application, so you can have different versions of software according to client requirements.

When to use low-code and no-code

Both low code and no code platforms are built to improve speed and agility. But, one works better than the other for different software requirements.

If you are looking for a simple one-time software or portal, no-code is a better option. It is easier and has multiple features to suit your requirements. But, if you want additional features or customizable applications, you need to choose low code.

For instance, a simple app for displaying activities on a dashboard can be built through no-code. But if you want to customize the same for different clients, then low code will provide you the flexibility to do so.

Challenges with low-code/no-code platforms

Even though these platforms are built for easy usage, there are some challenges while implementing and using them.

Low-code/ no-code platforms have pre-coded templates and features. These are good for quick usage but do not allow much room for innovation.
Integration using such platforms is challenging. This makes it difficult to scale your software according to your business growth.
Since these platforms allow easy creation of software, it is difficult to track the number and kinds of applications made. This can pose a threat to company and user data.
Scaling and managing software through these platforms might require some IT knowledge.

Opportunities with low-code/no-code platforms

Low-code/ no-code platforms provide various scopes for business automation. There are four popular ways to get the best out of these platforms.

Workflow technology

Companies use multiple software and applications for different tasks. At the end of 2018, large companies were using an average of 129 business apps. Through low-code/ no-code platforms you can streamline all your business apps on a single platform. Workflow technology solutions allow you to automate various tasks and also integrate them on a platform of your choice.

Custom app building

This is the basic purpose of low-code/ no-code platforms. These apps are not only easy to build but also easy to maintain. Features like drag and drop allow citizen developers to build apps from their own ideas. For full stack developers, these platforms help in building more apps by providing pre-coded templates for common features.

Robotic Process Automation

Single applications built on low-code/ no-code platforms are not suitable for extensive automation. Through RPA, low code apps can repeat human tasks such as responding to emails and texts. Involving both RPA and low-code/ no-code allows you to automate tasks on a greater scale. These allow apps to mimic human tasks across multiple channels. A combination of both can achieve hyper-automation in any business.

Intelligent Process Automation

IPA is based on RPA but has an additional feature of artificial intelligence to it. IPA tools overcome most of the drawbacks of RPA. They are capable of making complex decisions and handling advanced tasks.

Get started with Business Automation through KriyaGo

KriyaGo helps property management companies automate their business tasks in different ways. We work with state-of-art software like Yardi and Procore to provide you with the latest innovations. According to your requirements, we can integrate multiple software so you can benefit through their best features.

Dozens of companies have already benefited from KriyaGo’s software integrations. Through our professional team, we provide unique insights, market expertise, and solutions for your software requirements. From finding the right tools to training and onboarding, we can handle the complete integration process.

At KriyaGo, we believe in prioritizing digital transformation. Book a consultation with us to know more about our services!