How cloud-based financial admin can enforce accuracy and increase efficiency

working on laptop 810 x 430 Blog Popup | How cloud-based financial admin can enforce accuracy and increase efficiency
By Toby Lester | 9th September 2019 | 8 min read

It’s hard to find a teacher that gets excited by purchase requisitions and expenses. However, financial responsibility doesn’t end in the finance department; for example, senior teaching staff may still have budget responsibilities. Cloud-based administration offers a convenient and efficient financial solution for your non-finance staff.

Purchasing Made Easy

Cloud-based admin can step in and give key members of staff the support they need. With a system like PS Financials’ PS Purchasing module, staff can submit purchase requisitions to the finance team through their internet browser on a laptop or mobile device. The staff member benefits from an easy-to-use system, and the finance team benefit from a clearly defined workflow.

This process enables flexible work practices; your finance team can create purchase orders from multiple requisitions and can also place orders directly on the system without the need for a requisition.

Managed Approval Process

You can set your own approval processes with multiple stages, speeding up the approval procedure. Decision-makers can ask for clarification at any stage of the process with the click of a button, ensuring compliance and full budgetary control.

Rather than dashing around your premises to ask staff for their signature, everything is managed from a cloud-based administration platform that works on any device.

Cloud Expenses

Submitting expenses can be a lengthy and complicated process. Our cloud-based solution, PS Expenses, empowers staff to submit their expenses with ease. Staff can submit their expenses in a format that suits them; for example, you can transform a photo of your expenses into a digital checklist for your finance team, with a fully managed workflow and approval process.

What was once a manual process has now been automated, and a major staff time sink has become a quick task.

No More Paper

By working in the cloud, you eliminate the need for manual paper-based orders. PS Financials automatically logs a full electronic audit trail, so there’s no need for overstuffed filing cabinets. Your orders and requisitions are at your fingertips.

Unburdened from the need to manage physical paperwork, your finance staff are freed to ensure that suppliers and expenses are paid on time and with accuracy.

Reduce Human Error

With a cloud system, your financial information exists in a central location; once it’s submitted, there’s no need to manually key data. As key stakeholders will be notified via your automated approval process, you can virtually remove the possibility for human error, freeing up administration time.

Without the need to manually rekey entries, there’s no opportunity to duplicate entries on the system, so you can be confident in the accuracy of your financial database.

Try It Yourself

The cloud offers a host of benefits for both finance and non-finance staff. If you want to unchain your finance staff from managing paper documents and separate digital files and empower your non-finance staff to manage their own financial processes, there’s no better way than to try it yourself.

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