With the pandemic in full swing and many businesses just on the verge of recovering, the third decade of the current century throws multiple challenges on the IT staffing business. It is not just challenges; there are more opportunities too on the horizon. IT staffing business market-watchers are united in their opinion that the key to success is in how fast a firm automates its operational preparedness to meet challenges posed by increased customer demands emanating in the post-pandemic era.
Here are a few scenarios that are expected in the coming years.
Customer and Employee Induced Demand for Accounting Automation
Your accountants will want elaborate automation, especially for invoicing, dispatching and VMS; the three core problem areas that drain accountants’ energy. It will be the management’s responsibility to ensure that most of the accounting automation demands emanating from within the organization and from customers are met.
Failure to meet demands can potentially increase attrition rates with employees looking out for greener pastures that offer a better automation ecosystem in their workplaces. Likewise, customers can potentially seek out IT staffing firms that make their working simpler and easier to retain their accounting department employees.
Friendly Timesheet Submission Tool for Consultants
As things stand today, not all IT staffing companies have adopted automatic, consultant timesheet submission. As things stand today, consultants and subcontractors prepare their timesheets on paper/computer and dispatch them by mail/email. This is a long process that cannot be carried over in the current decade – it should be 100% digital and consultants will want convenience – remote submission in a safe submission process that they can monitor until it is accepted by the accounts department digitally and acceptance conveyed for their records.
Failure to automate with an appropriate tool such as CONSULT invoice automation tool will lead to cascading problems with consultants complaining about their timesheet submission and error-full invoicing for which they are not responsible. This will cause delays and may reflect when VMS is set in motion at the time of payment processing.
Customers will Demand 100% Automatically Generated Invoices
Invoicing in IT staffing is all set to grow more complex in the future and those days are not far – your organization may have to prepare itself to give up manual invoicing completely and move to digital invoicing wherein all invoicing will be done in the cloud. It will be a delightful experience for accountants who will not be required to handle papers anymore.
Failure to embrace cloud technologies and 100% auto-generated invoices will result in customers shunning your firm and looking around for tech-savvy staffing vendor firms.