Accounting Automation: Streamline Your Business Finances
New technology continues to change the business landscape. Yet despite that, we still find plenty of businesses working on legacy systems or using manual processes to manage their accounting.
While they wrestle with spreadsheet formulas, and triple checking expenses and invoices, their competitors are making the most of cutting-edge financial tools to save time, boost efficiency, get a real time view of their books, and in turn, they benefit from more informed decision-making.
Those who haven’t yet made the move to digital-first software risk being left behind.
The reality of manual accounting
Businesses that still rely on manual input across Excel sheets or legacy software like Sage, can find themselves working with information that is months out of date, due to the challenges of keeping on top of large volumes of data. This reduces agility and limits your ability to seize new opportunities or respond to risks and takes up valuable hours that could be better spent on strategic activities.
Should you make the switch?
There are three key questions you should ask if you’re thinking about switching to a digital-first accounting software:
- Do you want to save time?
- Do you want to be more efficient?
- Do you want real-time insights into how your business is performing?
If the answer is yes to any of these questions, digital-first accounting is the right decision for your business.
Digital-first software like Xero saves time by removing the majority of the manual input required. Instead of account teams having to manually upload invoices, chase late payments or approve expenses, Xero can take on those tasks and more, freeing up finance teams to focus elsewhere, allowing them to add more value.
We’ve seen plenty of clients move to Xero and reap the rewards, one of which was a Blackpool-based charity. Previously, the team was using a legacy accounting system, and with our help moved over to Xero. Now, the charity collects receipts, invoices and statements, runs cloud storage for easy access anywhere, as well as managing its payroll system all through Xero. The move to Xero has directly freed up the three-person finance team from manual input into old accounting systems, to being able to work on grant applications to secure more funding for the charity.
The transformation also enabled flexible working arrangements, allowing team members to work from anywhere whilst maintaining full access to real-time financial data. In today’s employment market, offering software that enables remote and hybrid working isn’t just convenient, it’s essential for attracting and retaining talent.
Getting online
One of the main barriers to change is familiarity. Many businesses have used the same accounting practices for years and are hesitant to switch. But whether you’re using an Excel spreadsheet or a legacy system, the process of switching to Xero couldn’t be more straight forward. At Champion, we remove the hassle and stress from digital transitions using our tried-and-tested approach and are on hand to offer training and support once Xero is up and running for your business.
Legacy system data can typically be converted within 24 hours, with two years of historical data available for comparison. For spreadsheet users, starting fresh at year-end often works best, allowing for clean data migration.
Of course, we don’t leave you to figure it out yourself, we can provide full Xero training, as well as plenty of resources to help you get to grips with the system, which is incredibly intuitive.
Once you’re online
One of the biggest benefits of digital-first accounting software is how it can use AI and integrate with other software to improve efficiency.
Tools like Dext, which integrates seamlessly with Xero, revolutionise expense management. Simply photograph a receipt or upload an email invoice, and the software automatically extracts and codes the information, eliminating manual data entry. The system also learns as it goes, making future entries faster and more accurate.
Payroll can be managed through systems like BrightPay, which connects to Xero too, so everything is managed from one central location.
While digital VAT returns are already mandatory for many businesses, as part of Making Tax Digital, this remit is expanding. As of April 2026, income tax returns for self-employed individuals and landlords must also be submitted online. With this in mind digital-first accounting isn’t just efficient, it’s increasingly necessary.
Digital accounting platforms submit returns directly to HMRC, eliminating the need for costly bridging software whilst ensuring compliance with evolving regulations.
Beyond bookkeeping
Digital accounting software doesn’t just facilitate efficiency, but proactivity too. By connecting with other software like Futrli or Fathom, the data from your accounting software can be used for scenario planning and cashflow forecasting. You can model different business scenarios with real-time data to enable proactive decision-making rather than reactive firefighting.
The bottom line
Any kind of change to your business can feel daunting, but a digital-first accounting software will make your life easier. With our support, you regain control and put an end to inefficient bookkeeping, so staff have more time to focus on adding value and business owners can focus on growth.
If you’re ready to make the switch or want to find out more our expert team is here to help. Contact Paul Bell, client director, on paul.bell@championgroup.co.uk / 01772 735 000.
