Accounting might not be the flashiest part of your software setup, but if the workflow behind it isn’t humming along, you’re leaking time and money. Quietly. Constantly. And in ways that most businesses don’t even notice—until they do.
This post is your call to pay attention. Because even if your team’s using best-in-class CRM or project management tools, a flawed accounting process can drag everything down.
Let’s dig into what’s really going on beneath the surface.
Why Accounting Workflow Deserves Your Attention
It’s easy to think accounting inefficiencies are isolated problems. They’re not. The impact of a sluggish workflow doesn’t stay confined to the finance department.
Late reports? Delayed decisions.
Manual rework? Wasted payroll.
Missed filings? Risk exposure.
And here’s the kicker: you might not even know your system’s the issue.
According to APQC, top-performing finance teams close their books in 4.8 days. The average? 6.4 days. That’s a 1.6-day lag that could mean the difference between catching an error and compounding a loss.
Common Workflow Issues That Drain Resources
1. Manual Data Entry
This one’s a beast. Over half of executives (53%) in a Deloitte survey called manual data entry their top blocker to efficiency.
And it’s not just about typing. It’s about correcting typos, reconciling mismatched figures, and cleaning up avoidable errors. All of that adds up.
Let’s put it in hours: IMA found that poor workflow communication creates 4.2 hours of rework per team member every week.
Multiply that across a 10-person finance team. That’s 42 hours. Gone.
2. Poor Integration Across Tools
Your accounting system might not speak the same language as your inventory, CRM, or payroll software. And that’s a problem.
When tools aren’t integrated, teams resort to workarounds. Downloading reports. Copying data. Emailing spreadsheets.
And those little inefficiencies? They snowball.
Only 24% of companies have full process ownership across accounting, per PwC. That means 3 out of 4 are likely stuck in fractured workflows.
3. Lack of Automation
By 2025, Gartner predicts 80% of accounting tasks will be at least partially automated. Why? Because automation works.
Automated workflows reduce monthly close times by 30–50% and cut audit errors by 20%. That’s not small change.
Even better, automation improves compliance by up to 20% and supports faster decisions—33% faster, according to Deloitte.
The Silent Cost of Inefficiency
In the APQC benchmarking study, top finance performers spend $0.56 per $1,000 of revenue. Laggards? $1.44.
Let’s do the math.
A company earning $10M annually could spend $5,600—or $14,400—on finance ops, depending on workflow quality. That’s an $8,800 difference without touching headcount.
And that’s just cost. Add in risk, frustration, and missed opportunities, and the real price is much higher.
Spotting the Problem in Your Business
So how do you know if your workflow’s the culprit?
Here are some red flags:
- Monthly close feels like a fire drill.
- Reports are late or inconsistent.
- Accountants work overtime for avoidable issues.
- Teams use spreadsheets to patch system gaps.
- Nobody owns the full accounting process.
If any of that feels familiar, your setup needs a hard look.
How to Fix It (Without Ripping Everything Out)
You don’t have to burn it all down. In fact, the best solutions build on what you already have.
1. Map Out Your Current Workflow
Start by visualizing your accounting process. Who does what, when, and with what tools? Where are the handoffs? What happens when something breaks?
Once you see the full picture, inefficiencies become easier to isolate—and fix.
2. Automate the Low-Hanging Fruit
Focus first on recurring, rules-based tasks:
- Invoice generation
- Payment matching
- Journal entries
- Cash forecasting
This guide to cash forecasting offers a solid starting point.
Automation tools don’t have to be massive ERP installs. Many accounting platforms offer built-in features you’re probably not using yet.
3. Revisit Integrations
Is your CRM feeding billing data into accounting? Is payroll data syncing with general ledger entries?
You might need custom connectors. Or a rethink of how your tools interact. Either way, fixing these gaps pays off.
4. Get Everyone on the Same Page
Efficiency isn’t just a tool problem. It’s a people problem too.
Train your team on updated processes. Set up shared dashboards. Assign process owners. Then monitor—and iterate.
Integrated workflows can boost productivity by 28%, according to IMA. But that only happens when teams know what’s expected—and buy in.
5. Use a Framework Like This Accounting Efficiency Guide
If you’re unsure where to begin, this accounting efficiency guide lays out a playbook to analyze and improve each component of your workflow.
You don’t have to figure it all out from scratch.
Time to Fix What’s Holding You Back
Businesses love their shiny software. But a broken accounting workflow can quietly undercut everything else you’re doing right.
The good news? You can fix it.
Map your process. Automate the obvious. Link your tools. Get buy-in.
And when in doubt, check the benchmarks: the best finance teams are leaner, faster, and more accurate—because their workflows work.
It’s time yours did too.
