This case study examines the implementation of DeepIdea Lab’s automation in the accounting department of a business. The EMC Shop can be found at www.theemcshop.com an online retail store that has been in operation for several years. In the past few years, the company has experienced rapid growth, leading to an increase in the volume of accounting tasks.
The EMC Shop was facing several challenges due to its reliance on manual accounting processes. The company struggled to keep up with the increasing volume of tasks, leading to long hours and high-stress levels for the sales and accounting staff. In addition, the manual processes were prone to errors, which resulted in incorrect financial statements, slow invoicing, and potential issues with tax compliance.
Initially, the sales agent would close a deal, and create a contact for their accounting software, then the finance department will double-check with the sales agent all the details of the closed sale to make sure they have the correct information before they can send an invoice to the client. Once the invoice has been paid, the asset/equipment will be scheduled for shipment. Very time-consuming and again, so much room for errors.
To address these challenges, The EMC Shop began exploring automation options and 2 years ago, they contacted us at DeepIdea Lab. After thoroughly analyzing its current processes and identifying areas that could benefit from automation, the company decided to invest in various automation processes that DeepIdea Lab provides. One of which is our accounting automation system. The system would handle tasks such as generating customer information from their CRM (Hubspot) to QuickBooks, client invoicing, faster bill payment, and financial reporting, freeing up the accounting staff to focus on more high-level tasks and eliminating any back and forth due to human error.
DeepIdea Lab implemented the accounting automation system over the course of several weeks, training employees on how to use the system and establishing new processes and procedures to ensure smooth integration. With DeepIdea Lab’s automation, it reduced redundant work which resulted in a much faster turnaround time and less stress for the employee and company.
After implementing DeepIdea Lab’s automation, The EMC Shop achieved a significant increase in efficiency and productivity. With less interaction between sales and bookkeeping, there is less chance of human error. It allowed the company to easily capture payments and ship orders much faster, resulting in a positive customer experience. It reduced repetitive tasks which allowed their employees to focus more on productivity.
The implementation of DeepIdea Lab’s automation in the accounting department of The EMC Shop was a successful solution to the challenges the company was facing due to its reliance on manual processes. The automation system helped to improve efficiency, productivity, accuracy, and income for the company. It freed up the accounting staff to focus on more high-level tasks and eliminated any potential errors due to back-and-forth communication. The results show the value of investing in automation for companies looking to streamline their business and accounting processes, improve financial management and have happier employees.