How Technology Advances The Way We Manage Finances

How Technology Advances The Way We Manage Finances

How has technology advanced the way we manage finances? originally appeared on Quora: the place to gain and share knowledge, empowering people to learn from others and better understand the world.

Answer by Waseem Daher, Founder of Pilot.com, on Quora:

When we were starting our first company back in 2008, none of these products existed: Expensify, Gusto, Rippling, Stripe, Brex, Carta, Plaid, QuickBooks Online. Your bank statement arrived at your office in an envelope, in the mail, and everything else was similarly painfully manual.

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As more of these systems moved to the cloud and had APIs, the ease (and speed) with which we can manage a company’s finances has improved considerably. Things that used to require an accountant to laboriously and manually key in information can now be done automatically and electronically.

Software has ultimately made it possible for us to let computers handle the most mechanical pieces of the process, leaving the experts to focus on things that are especially high-leverage or impactful.

This question originally appeared on Quora – the place to gain and share knowledge, empowering people to learn from others and better understand the world.

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