3 ways automation can transform your financial processes

Jan 31, 2025 | Fintech Friday, Scale Monthly

Half of new businesses will fail within just three years of opening. That was the warning from credit checking company Experian at the end of 2023.

Fast forward to today, and the looming increase to employer National Insurance contributions and various other Budget announcements mean that many businesses are facing even more pressure as we move further into 2025.

Fast-growth businesses in particular face a set of unique challenges – handling an increasing volume of transactions, complex payroll management and unpredictable cash flow to name a few. These pressures make maintaining a clear financial picture more important than ever to navigate growth and avoid potential pitfalls.

That’s why we’re kick-starting the year with our Scale Monthly series – 12 blogs that will explore key areas business owners can address to gain better insight and drive smarter decision-making.

This month, we take a look at 3 ways automation can transform your financial processes.

Harnessing automation to drive better insight

Time is one of the most valuable resources for ambitious business owners. By automating repetitive tasks, you free up time to focus on scaling your business.

  1. Automate your accounts payable and accounts receivable

Managing invoices and payments manually is time-consuming and prone to errors. Automation tools can:

  • automatically generate invoices and send payment reminders to reduce late payments. Learn how to utilise all of Xero to allow you to schedule invoices and follow-ups for overdue payments, reducing delays and improving cash flow.
  • Platforms like ApprovalMax let you automate your accounts payable process by approving, scheduling, and tracking supplier payments in one place.
  • For regular expenses (e.g., subscriptions, rent, or utilities), automate recurring payments to reduce admin time and avoid missed deadlines.
  • Cloud accounting tools sync with your bank accounts to automatically match payments with invoices, saving hours of manual reconciliation.

Top Tip: Implement a system to automatically follow up on overdue payments. Xero allows you to track who has paid and automate nudges for those who haven’t.

  1. Use automation to track and forecast cash flow

Cash flow forecasting is critical for fast-growth businesses, especially during uncertain economic times. Tools like Futrli connect directly to your accounting software, providing real-time projections based on actual data.

With automation, you can:

  • Monitor upcoming expenses and income to prevent cash flow gaps.
  • Visualise different growth scenarios, like hiring or investing in new equipment.
  • Plan ahead for major expenses, such as tax bills or increased employer NI contributions.

Top Tip: Schedule a weekly review of your cash flow forecast. Automation tools make it easy to access this data on-demand, ensuring you’re always prepared for what’s ahead.

  1. Streamline expense management

Tracking expenses can feel like a never-ending task, especially as your team grows. Automation tools like Dext help you:

  • Automatically categorise expenses and capture receipts with just a photo.
  • Record mileage as you go using one of Dext’s newest features.
  • Integrate with your accounting software for seamless reporting.

Top Tip: Encourage your team to use expense apps to submit receipts on the go. This ensures you have a real-time view of costs and saves hours during month-end reporting.

Take action for a smarter 2025

The key benefit of automation tools is that they work together seamlessly, giving you a comprehensive view of your finances without the need for manual data reconciliation.

In a year where financial pressures continue to mount, having a streamlined and technology-led financial system is no longer optional – it’s essential.

How can we help?

At Harold Sharp, we specialise in helping ambitious businesses navigate these challenges. From selecting the right tools to providing expert guidance, we’ll help you build the financial clarity and resilience you need to run your business smarter.

Contact James Turner on the below or complete our Contact Form for help with driving automation in your business.


James Turner
Accountant | Fast growth
0161 905 1616
jt@haroldsharp.co.uk