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AcctTwo Blog

Tame Your Complex Billing Tiger with Flexible Project Billing Automation

“We have to do it manually” is an unfortunate phrase we hear quite a bit when our clients share their frustrations with managing their complex, multi-line project billing. If you’re recreating the same price list repeatedly or if your business model requires extensive pricing and billing flexibility, there’s a better way.

Topics: project accounting professional services Automation and Workflow Project Management and Project Accounting process automation Construction Industry Field Services

Highlights From Deloitte's Midmarket Trends Report

Deloitte recently conducted its annual survey of decision makers in midmarket companies. Over 500 participants offered their insights and opinions about the positive and negative forces affecting companies with revenues between $100 million and $1 billion. Any company falling in or close to that range should consider what industry leaders are feeling optimistic and pessimistic about moving forward.

Topics: middle market Cloud computing process automation Survey

Time to Close the Books is Trending Downward Due to Advances in Technology

Accelerating time to close has not traditionally been a key focus for finance and accounting executives. But now that companies of all sizes across all industries (including nonprofits) are looking for a competitive advantage, every process is ripe for improvement. And thanks to new approaches and new capabilities, time to close has shrunk significantly.

Topics: financial close Automation and Workflow General Ledger and Month-End Close process automation Finance Automation

Machine Learning – Unlocking the Full Potential of Accounting

Despite all the technological progress that has been made over the last 150 years, accounting has changed very little. The daily work of most accountants involved massive amounts of data entry, clerical work, and administrative routines. Spreadsheets may have replaced ledgers, but the role of the accountant never really evolved.

That is quickly changing with the advent of machine learning. This 21st century technology is still in its infancy, but already it’s having an impact on the accounting profession that is broad and deep. As the potential of machine learning continues to advance, look for the expectations of accountants to change radically.

Topics: Automation and Workflow process automation Finance Automation Machine Learning

What is the Huge, Head-Smacking Mistake Most Global 1000 Companies are Making?

One might think that the larger a company is, the more complex its finances, AND the more sophisticated its technology. The largest multi-national companies must be byzantine in the number of entities, processes, and locations - not to mention the complexity of their accounting, right? Well, a recent study conducted by Redwood Software found that shockingly 82% of Global 1000 companies have manual financial close processes.

Topics: Blog financial close Global 1000 month-end close General Ledger and Month-End Close Informational process automation Multi-Entity and Consolidations Awareness