How Finance Software Aids Budget Management
In healthcare, varying levels of pay and working hours can cause a headache when it comes to tracking budgets.
Staffing pools are filled with a wide range of shift patterns, often far removed from the 9 to 5 that most other sectors are accustomed to. There’s also a diverse skill set, pay scales with overtime, part-time hours, zero hours and flexitime all adding complexity to budget and finance management.
Using spreadsheets to manage finance and payroll leaves the door open to pitfalls and inaccuracies. Not to mention the time it takes to cross-reference details to make sure that the workforce is paid on time and what they are owed.
Technology is increasingly being adopted to meet the challenges finance administrators face when tracking pay and budgets. Here are a few ways RotaMaster Finance + module should become an integral part of your finance process.
Saves Time and Money
In the healthcare industry, time and money are two resources in short supply. Finance software helps speed up the process with automated features. RotaMaster’s Finance + module allows you to create an invoice quickly by clicking a button and send remittance advice by email.
RotaMaster accommodates for all paid and unpaid absences in-line with your sickness and company leave policies. There’s also a reporting functionality to help you keep track of company spend and money lost due to sickness.
The software allows staff to verify their hours as soon as they have worked them so there’s less reason for disparity between hours worked and what has been paid. There’s no need to use multiple spreadsheets as all information is stored on the software and can be checked easily and quickly.
When syncing up payroll with financial management, you need an integrated approach so that everything can talk to each other. RotaMaster is easily integrated with Iris, Sage, Xero and QuickBooks. It can also be integrated with HR, attendance and patient booking software.
If you need your accountant or finance team to see how budgets are shaping up, then you are able to invite them on to the system using the multi-user functionality. This helps make sure that everyone is on the same page and can track any changes in real time.
The software enables you to access the data from anywhere at any time. There’s no need to worry about accidentally deleting spreadsheets or important documents as everything is safely stored and backed-up using the cloud system.
The key aspect of the cloud-based software is the added security. Not only is all information backed-up, but RotaMaster will also keep on top of any crucial software updates. In the unlikely event of any problems affecting the server, we provide support 24/7 to address any issues straight-away and avoid downtime. Your data remains completely secure at all times.
If you’d like to discuss how RotaMaster can integrate with your payroll system and help manage your finance and budgets, call 01924 252360 or email email@example.com.