Our bookkeeping is a well oiled machine with a suite of Excel sheets, software, and checks to validate our purchases. This statement is one we have heard many times and are surprised to hear. The biggest misconception to bookkeeping is that more personnel, rules, and paperwork are the key towards finding lost margin. However, this could not be more untrue...
Whether it is one bookkeeper or an accounting team, everyone seems to invest a disproportionate amount of time understanding the value their spending is bringing or losing.
A Rube Goldberg machine is a machine that is built to do a very simple task (like staple a piece of paper) in the most complicated and intricate way possible. While we often think of these machines as being related to high school projects, we can find elements of them powering the back office.
Above, it is easy to see the hoops a single invoice must jump through to simply account for part of a single sale. This machine of complexities prevents an owner, bookkeeper, and accountant from doing the part of their jobs that create real value. Instead, it has become accepted to spend 6+ hours of their week matching statements to invoices, calculating missing costs, and digging through piles of paperwork.
WickedFile eliminates many of the hands on tasks involved in the purchase management process. In turn, this benefits everyone and enables greater focus on growing the business while saving money.
Owners: Owners can access any document while on the go and see a high level view of their unvalidated spend. The act of wearing multiple hats is reduced, allowing owners to step away from sorting through statements.
Bookkeepers: We have seen bookkeepers using our solution capture savings quickly through WickedFile. With less time required for document matching, bookkeepers can spend more time negotiating contracts, more time on payroll, and escalate issues to vendors.
Accountants: Accountants can now work closer than ever with their companies. With WickedFile, every document can be digitally accessed in seconds and accountants are no long limited to paper invoices or emails.