One of the first—and most important—pieces of advice you can give your client when establishing a CAS practice with them is how to update their technology stack to automate reactive tasks that normally take many hours to complete. Automating tasks such as spend and expense management, or accounts payable and accounts receivable, frees up time for you and your client to look at their financial data and make informed, proactive decisions.
The key benefits of updating your client’s tech stack include:
- Maximize cash flow: Control inflows and outflows of cash, and secure access to credit and capital, so you can run your business with confidence
- Payment approvals: Review any outgoing payments or set up specific parameters around what kinds of payments need approvals to ensure bills are paid correctly
- Payment scheduling: Schedule when payments are made, and know exactly when money is coming in and going out
- Auto sync: Automatically sync with your clients’ accounting software for streamlined reconciliation and end-of-month close.
