According to a recent report by software company Xero, 72 percent of small businesses continue to rely on human accountants despite advancements in automated accounting technology. But automation in the finance and accounting sectors is growing exponentially and for small businesses in particular, automating these processes can free up resources. Recently there have been a number of technological advancements in payment processing. These new softwares speed up processing times and reduce costs. They also eliminate the need for manual accounting as payments are tracked automatically.