Building Efficiency into Accounting Processes
Accounting professionals deal with a million little things every day: creating journal entries, importing entries, coordinating data from payment management tools, etc. And every task must be carried out precisely and accurately, or there will be additional work down the line as they locate and reconcile any errors.
But the need for perfection across multitudes of little tasks can combine with processing times to slow systems and result in frustrating lags. Accountants deserve software that can keep up with their workflows and keep processes running smoothly.
In early 2022, Entrata surveyed the users of our Accounting system and, while we received high marks for the single operating system (especially single sign-on) and streamlined processes, clients were feeling the need for speed. “There has to be something to speed up the system. Everything takes a long time, from posting journal entries to running reports,” said one user. System slowdowns, especially when multiple tasks run simultaneously, could impact the flow of their day, interrupting focus and just being generally annoying. So we got to work.
Entrata’s Accounting team focused on optimizing the operating system to shave seconds off of the processing time for some of the most frequent tasks our clients use. Now, after just a couple of months, journal entries are processing 47% faster and journal entry imports are processing 25% faster than before. True-ups that had previously taken up to a minute to perform are now completed in one or two seconds, and housekeeping tasks like deleting accounts or identifying duplicate GL entries are running 60-80% faster.
The feedback Entrata received from our users allowed us to noticeably improve the performance of the operating system in a relatively short time, and users are cheering the changes. Entrata’s Accounting team, like our other product teams and developers, celebrate the collaboration with clients.
“Our product’s success is founded upon continuously connecting with customers to understand their needs, pain points, and desires to ensure that we are solving the biggest opportunities for them, “ said Scott Knudson, Director of Product, Accounting.
Working together, Entrata and our users have been able to improve processes that impact a million little tasks across properties and portfolios every day. And that efficiency really adds up!
The survey is still open! If you use Entrata Accounting, share your experience. What would you like to see in future updates? Provide your feedback here.