{"id":4329,"date":"2018-05-21T14:13:13","date_gmt":"2018-05-21T18:13:13","guid":{"rendered":"https:\/\/www.sage.com\/en-us\/blog\/?p=4329"},"modified":"2026-02-12T05:23:15","modified_gmt":"2026-02-12T10:23:15","slug":"robot-manage-business","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-us\/blog\/robot-manage-business\/","title":{"rendered":"Should a robot manage your business finances?"},"content":{"rendered":"
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\n\t\t\t\t\t\t\tMoney Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t
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\n\t\t\t\t\t\tShould a robot manage your business finances?\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t

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\n\t\t\t\n\t\t\t\t\"Ashley\t\t\t\tAshley Thompson<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n

It\u2019s already happening across the globe as more consumers warm up to the idea for their personal finance needs. As consumers continue to drive the trajectory of fintech with demands for more convenience and a better experience, more providers are teaming with tech firms to develop algorithms to automatically manage portfolios.<\/p>\n\n\n\n

Is this a financial fad or the future of investing? How does this type of technology impact business finance and money management? Which is better \u2013 a human or a robot<\/a>?<\/p>\n\n\n\n

The answer to these questions is the same: it depends on your preference.<\/p>\n\n\n\n

The latest advancements in automation are revolutionary in that they open a new world of options for small and medium-sized enterprises (SMEs) at any accounting expertise level. Here\u2019s how.<\/p>\n\n\n\n

The rise of the robo-advisor<\/h2>\n\n\n\n

Investment automation is a more cost-efficient way to invest money because it replaces costly consulting hours with adjustable algorithms based on the customers\u2019 preferences.<\/p>\n\n\n\n

Robo-advisor technology is catapulting the personal finance market, with peer-to-peer (P2P) money transfers trailing behind. The US market alone is set to increase 38% to $1.5 trillion by 2022, and currently holds 68% of the global market share. Meanwhile, Europe is the second largest with 11%.<\/p>\n\n\n\n

Use of a robot for your small business<\/h2>\n\n\n\n

Automation and machine-learning technology are spilling into the small business landscape as well. In our report Tech-Savvy Businesses do it Better, our research with IDC shows 57% of small business owners see digital transformation<\/a> as an opportunity to improve efficiencies throughout the business, i.e. to differentiate from competitors and tackle general admin tasks. Some trending examples of this include payroll software<\/a>, intelligent customer relationship management (CRM) systems, and chatbots for your customer service.<\/p>\n\n\n\n

Additionally, our research shows that globally SMEs are looking to digitize accounting and money management (generating, processing, and accepting payments and invoices) admin tasks \u2013 specifically, those that are either juggled in-house or handled by an accountant.<\/p>\n\n\n\n

Artificial intelligence<\/a> and machine-learning technology have led to the creation of smart assistants and chatbots apps that allow you to manage your finances through a virtual assistant<\/a>. If you are a time and resource-strapped business, you can keep a real-time account of your expenses, track incoming payments, and automatically balance books through voice or text command.<\/p>\n\n\n\n

The more you interact with the chatbot the more intelligent it will become, adapting to how you work and providing you with recommendations tailored to your business.<\/p>\n\n\n\n

New electronic invoicing technology can help your business to get paid faster and track invoice payments better. Machine learning alerts you when your customer receives, opens, and pays your invoice and automatically updates your stock items.<\/p>\n\n\n\n

Benefits of using tech when managing money<\/h2>\n\n\n\n

How clear is your firm\u2019s financial \u201cbig picture\u201d? How far in advance can you spot a change in cash flow? More than 50%<\/a> of SMEs currently experience or expect to experience negative impacts on company investment, paying suppliers, and staff bonuses.<\/p>\n\n\n\n

Because emerging technology uses your firm\u2019s automated data to generate predictions and analysis, you have the insights you need to make better, more informed financial decisions:<\/p>\n\n\n\n