When Your Needs Outgrow Your Tools

Ovia Health is doing big things for women and families, and they need support that enables them the ability to grow at any pace, anytime. As a health and tech company, Ovia Health is committed to transforming the way employers support working women and families along their parenthood journey, improving outcomes by providing daily personalized engagement, proactively identifying potential health risks, and supporting a successful return to work.

But in 2018, the small finance team at Ovia Health needed an upgrade. They were dealing with some common accounting shortcomings related to their accounting software, in particular limited automation capabilities. This meant that they were still having to do a lot of manual bookkeeping on a regular basis, leading to human errors and inconsistencies. 

In March, Botkeeper founder and CEO Enrico Palmerino sat down and talked with the team at Babson Built, a podcast focusing on entrepreneurship from founder-alumni from Babson College. Enrico is a 2011 alumnus of Babson, having started multiple businesses during his tenure at Babson.

After many formative years building Erector Sets and solving Rubik's Cubes, we at Botkeeper are delighted to finally be recognized as “cool” by the global research and advisory firm Gartner! Although the designation might not pack the same social punch as it did in middle school, we’re honored to be listed in the “Cool Vendors” category of Artificial Intelligence for Small and Midsize Businesses.

Nobody likes going it alone, especially if whatever you’re trying to do leaves you feeling overwhelmed and incapable. But that’s why it’s good to ask for help from someone who knows what’s up, like inviting your accountant to your QuickBooks Online account so they can help with your bookkeeping.

A fundamental piece of good bookkeeping is routine account reconciliation, the process in which you match up your transactions in QuickBooks Online (QBO) with your bank statement and credit card statements. In addition to being every amount of fun as it sounds, it’s a really helpful process to make sure that your bank accounts match up with your accounting system, and you’re not at risk of overspending based on what’s actually in the bank. It’s a similar process to balancing your checkbook.