Accounting teams rely on email for so much, it’s ridiculous. These teams depend on email to communicate internally with their teams, and externally with customers, sometimes managing four or more inboxes at a time. Managing today’s accounting email inboxes with limited collaboration capabilities means teams are using Slack, Teams, productivity tools, phone calls, IMs, and smoke signals to close the books.
For your reading pleasure, we’ve gathered ten of the top ways email is making your accounting team see red instead of green. To close out our list, email is inefficient!
Challenge Number 10: Inefficiencies
Email is a broken tool for accounting teams. It is a HUGE time suck. They are massive time blackholes that are inefficient. Time wasted means less time to spend on other things like calling customers, managing financial documents, and (let’s be real) checking TikTok.
The average professional received 120 new emails a day, pre-pandemic. With you, your customers, and vendors working a mix of in-office, hybrid, and fully remote, email levels will continue to rise. Email is the never-ending time suck for accounting teams.
In all seriousness, the manual accounting processes today are inefficient, relying heavily on email and spreadsheets to manage and organize your accounting workflows. Many teams today have an accounting workflow that consists of emailing PDFs and spreadsheets back and forth to each other to be opened, read, and manually updated. This creates disparate, static information that is impossible to keep track of. There’s a better way to manage accounts receivable (AR).
Award-winning Lockstep® connects the world’s accounting teams to help them work better together. The pioneer in Connected Accounting, Lockstep develops tools and platforms for fintech developers and accounting teams to automate workflows between the accounting systems that are at the heart of all businesses.
Missed one the earlier challenges we featured? Check them out below:
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