Benefits of NoCode and LowCode Accounting for Businesses and CPAs
Benefits of NoCode and LowCode Accounting for Businesses and CPAs
At GrowthLab FaaS part of our journey started with the acquisition of a successful, yet traditional accounting firm. Dan and Steve realized early on that in order to move from working in the business to on the business they had to eliminate inefficiencies, and reduce rework. With that in mind, they began the process of value stream mapping and using visualizations to lay out processes that impacted every facet of the business. And with that, they quickly gravitated toward technology and applications in our ecosystem to automate, streamline, and improve efficiencies.
So, what do you need to know about
NoCode for accounting?
What is NoCode?
NoCode platforms are web-based tools that allow businesses to create apps and automated workflows - all without writing and maintaining custom code.
What are the benefits of NoCode?
NoCode development is super helpful for businesses that need custom apps or automated workflows because it doesn’t require the additional high cost of IT support and services. It also allows for quick development and deployment of automations.
What is Process Optimization?
Process Optimization is the methodical improvement of business workflows and processes. It all starts with value stream and process mapping of the current state while collecting metrics. Once you understand what you can actually control and measure, you can begin to lay out a future state map of the various processes. Now the fun begins.
What are the benefits of Process Optimization?
Process Optimization creates structure and organized systems, reduces labor cost and waste, creates alignment while increasing efficiency, and sets the stage for automated workflows.
With our experience and success, we have decided to take this to the market and here are 3 Reasons why NoCode Accounting can help your business or accounting practice.
The Great Resignation
Everybody knows it’s getting harder and harder to hire. And that means our customers need to grow their businesses without adding more people. NoCode and systems integration allows us to help our customers reduce the need for data entry and automate routine tasks. That frees up their employees to do more valuable work, which in turn makes our customers more profitable and successful.
Here's What We Can Do For You
Business Continuity
Business owners and accounting practices are focused on achieving long-term goals for both the business and the owners. One of those goals is almost always to exit the business, whether through a sale or through succession. In order for you to achieve this goal, you must build a business that can continue without you. That means having documented processes and automated systems. GrowthLab aims to drive value by helping to build sustainable, scalable businesses that attract future buyers for your business or practice.
Move Our Profession Forward
We all know that the majority of accounting practices suffer from lack of investment in modern technology, while owners are overworked and tired by the time tax season rolls around. Moreover, to achieve and maximize the greatest valuation for practice owners, you have to transform your practice into a modern firm that combines technology, process, and people to deliver accounting and finance as a subscription service. It’s about expanding gross margins and making accounting services sustainable and scalable. We plan to share our lessons learned with the community to help others transform their firms from transactional to relationship-driven.
Want to Learn More about NoCode Accounting?
Fill out the form below!
Check out More of our Recent Content!
GrowthLab is your Finance-as-a-Service partner
that serves Founders and Management Teams with