Outdated business systems and processes are the elephant in the room that often goes unaddressed.
While obvious to some departments they may be less visible to others.
Discussing this can be uncomfortable, as it often reveals inefficiencies or neglected opportunities for modernisation.
Falling into the mindset of ‘this is how we’ve always done it’ is easy, but no successful business can thrive long-term with that approach. Adaptation and embracing innovation are essential for staying competitive.
You’d be surprised at how many organisations, big and small, are in this situation. It’s highly like that you are too!
Fear not; we’re here to help you address the issue and set you on a more efficient course of doing business.
Firstly, let’s acknowledge the elephant in the room
If your organisation is experiencing any of the following eight tell-tale signs of old business systems and processes, then it’s time to address the elephant and get it gone for good:
1. Manual tasks
Data Entry: Inputting invoices, receipts, and other financial information into accounting software or spreadsheets.
Reconciliation: Manually comparing records (e.g., bank statements with internal accounts).
Spreadsheet Management: Updating and maintaining Excel spreadsheets for financial reports or forecasting.
Expense Reporting: Gathering and verifying expense claims for accuracy.
Tax Filing: Preparing and submitting tax documents manually, especially for unique or complex cases.
Approvals: Manually processing approvals for invoices or purchase orders.
Audit Preparation: Collecting and organizing documents for internal or external audits.
Manual Journal Entries: Recording specific or unusual transactions that aren’t handled by automation.
Compliance Checks: Manually reviewing compliance with internal controls and regulatory requirements.
Invoice Matching: Physically matching invoices with purchase orders and delivery receipts.
Client or Vendor Communication: Handling inquiries via email or phone, especially when resolving discrepancies.
Exchange rates: Manually updating exchange rates in your accounting software
Then your systems and processes are outdated.
Solution : The first step is to automate these manual processes. Tasks that were once cumbersome and time-consuming can now be streamlined using modern, advanced platforms like UniFi. By automating workflows, organisations can transform outdated structures and processes into efficient, scalable operations.
This will allow your organisation to increase productivity and accurately record information with minimal human error. This doesn’t mean replacing people with software, but it does allow those people to spend more time on value added tasks and providing more data insights.
RECOMMENDED READING:
- How Automated Workflows Help Organisational Processes
- 24 Things To Spend Your Time On Once You’ve Automated Your Accounting And Finance Processes
- What Are The Hidden Costs Of Spreadsheets And How Can You Avoid Them?
2. Still using paper
Problem : If you’re still using physical forms or printed documents to manage customer accounts, send invoices, process receipts, or track assets, you have an outdated and inefficient system.
Solution : Many organisations are moving away from paper-based processes because they are slow, error-prone, and costly. By adopting a modern platform like UniFi, you can significantly improve team efficiency, reduce the risk of errors, lower operational costs, and boost productivity.
Replacing paper-based systems with a modern FMS (Financial Management System) or ERP (Enterprise Resource Planning) software, however, can improve team efficiency while dramatically reducing the risk of errors. This reduces your operational costs and boosts productivity!
Read this: 5 Ways Paperless Business Solutions Are Transforming Business Processes
3. Poor software integrations + extra manual data entry
Problem : If you’re using multiple systems that don’t integrate or if your financial or business management solution can’t communicate with other platforms, your operations are not only outdated but inefficient. Manual data entry and lack of integration lead to time-consuming processes and unreliable reporting—common issues that drain resources.
Solution : The best way to eliminate these inefficiencies is by adopting a platform like UniFi, with powerful middleware that can connect any business system, ensuring smooth data sharing and streamlined operations. This enables a single source of truth so you can make better business decisions.
Read these: How An Integrated ERP System Can Benefit Your Business and Finance System Health Check: Is Your Current Accounting System Performing At Its Best?
4. Slow invoice approval
Problem : If invoice approvals are taking days or being sent back for corrections, causing additional rounds of approval, your current system is inefficient and prone to delays.
Solution : The right software (UniFi) can streamline the invoice approval process by automating workflows. This eliminates the need for manual approvals, reduces delays, and ensures compliance with your company’s internal controls, leading to faster, error-free processing.
Read these: Spend Less Time Chasing Purchase Invoice Approvals and Could Your Invoice Approval Be More Efficient?
5. Your organisation has outgrown its software
Problem :
-
- Difficulty managing departments and operations
- Finance is overwhelmed with requests
- Using disconnected systems that don’t integrate
- Frequent downtime during critical hours
- Departments working in silos
- Software limitations are so time-consuming that you can’t focus on improving efficiency
If this sounds familiar, you’ve outgrown your software!
Solution : Implement a scalable platform like UniFi to streamline operations, integrate departments, and provide a unified view of your business. This will boost productivity, improve efficiency, and increase profitability.
6. Data security and compliance is a concern
Problem :
Outdated systems often lack robust security measures and compliance features, putting your organisation at risk of data breaches or regulatory non-compliance. This can result in fines, legal issues, and damage to your reputation.
Solution :
Modern platforms like UniFi ensure enhanced data security with built-in compliance features, protecting sensitive financial information. These systems help meet industry regulations, such as SOX, while offering advanced KYC processes, audit trails, and role-based access controls, reducing the risk of breaches and ensuring secure, compliant operations.
7. Slow month-end
Problem :
Month-end closing processes can be time-consuming and prone to errors when relying on outdated systems. Accountants often spend days manually reconciling accounts, entering data, and ensuring compliance, leading to delays, higher stress, and increased risk of financial inaccuracies.
Solution :
Automating month-end processes with modern platforms like UniFi significantly reduces the time required to close the books. By streamlining reconciliations, automating data entry, and improving accuracy, businesses can speed up the closing process, reduce errors, and free up the finance team to focus on strategic tasks.
8. The cost of inaction
Problem :
Maintaining outdated systems might seem cost-effective in the short term, but it comes with hidden costs. These include lost productivity due to inefficient workflows, increased human errors from manual processes, and reduced competitiveness as newer, faster systems outpace your operations. Over time, these inefficiencies lead to higher operational costs and missed business opportunities.
Solution :
By upgrading to modern, automated systems like UniFi, businesses can avoid these long-term costs. Streamlining operations not only boosts productivity but also improves accuracy and agility, positioning your company for sustained growth and competitiveness.
Conclusion: Time for a change
With UniFi you can free up your staff to focus on value-added tasks, streamline processes, reduce operational costs and drive more meaningful insights.
You’ll also be able to gain more control over your important data and processes, increase productivity and boost profitability through a unified system that works across all departments.
All this ultimately improves your bottom line.
UniFi will help you automate manual tasks, replace paper-based operations, integrate systems, and slash your invoicing approval time. It’ll also help you keep up with changes in your business, provide updated features and technologically advanced capabilities and offer the ability to communicate information faster than ever before.
Ready to get rid of the elephant in the room?
Book a free requirements call with one of our experts to see the opportunities open to you. We can also provide a detailed business case template to help you kick off the project.
Still putting off the idea of a new system? Don’t fall foul of these excuses.
This guide is an adaptation of the original blog on FinanSys.com – The Elephant In The Room: Archaic Business Systems