Buy Bigger

I still remember the days when I had to buy my kids’ school uniform – admittedly quite a while back!

Thelma and I would take them to the uniform shop, where they’d get strangely excited about a uniform that, a couple of weeks later, they actively resented…

And at the end of our shopping trip, they would always emerge from the changing room looking incredibly smart, in brand-new, pressed clothes…

…That were several sizes too large for them.

We’d have to fold up their sleeves to stop them drowning in their oversized clothing.

You see, like many parents, I never bought my kids uniform that fit properly.

I knew that they were going to grow fast during the year – so why spend several hundred pounds on clothes that they were going to grow out of in a matter of months? We bought much bigger than necessary – and usually, by the end of the year, their clothes were just about right.

Buying bigger than you need right now is a good policy for your business, too.

I’m not advocating wasting money on things you don’t need.

But if you have clear plans to grow to a certain size over the next few years, it just doesn’t make sense to invest in equipment… or office space… or a team that suits you right now, but which you’re going to rapidly outgrow. Now that would be a waste of money!

Case in point. In my last email, I mentioned that we have moved our clients over to a new accounting platform called iplicit.

It’s a state-of-the-art system, which makes our clients’ lives significantly easier, allowing them to handle every transaction they do digitally, in a matter of seconds. Paperwork never gets lost – because there isn’t any paperwork anymore. Everyone can see at a glance the status of every last invoice and bill.

And it speeds up a whole range of other financial processes, too.

Here’s what one of our clients has to say about the impact on his business:

“Using iplicit over the past two months, I can confidently say that the processing of the team’s timesheet data has saved me hours each month. A task that took six or seven hours a month last year I can now do in less than a minute. It’s remarkable!” – Paul Arkesden, Global Programming Director, RLE Global Operations

Now, if you already have a reasonable accounting platform, you might be asking why you should even consider using a powerful system like iplicit. I mean, don’t fix what isn’t broken, right?

But that’s not exactly the whole story.

You see, most entry-level systems like Xero, Sage or Quickbooks work perfectly well when your business is still relatively small.

But once your company starts turning over millions, your accounting needs will change. You’ll require a much more sophisticated system, which can handle larger volumes of work without creating a lot of extra work for you and your team.

And you’ll need a system which gives you a lot more information about how your company is performing financially. You might have known some of this information instinctively when you were small, but as your business becomes more complex, you’ll need a lot more analysis.

You might not be ready for that system quite yet. But if you’re serious about growth, it makes sense to use an accounting system which can grow with your business as your needs evolve.

And that’s exactly what you get with iplicit.

You can use it when your company is relatively small. But you’re just not going to outgrow it when you hit the £1 million or £2 million mark – or even the £10 million mark.

All the functionality you’ll need is there, waiting for you. This is a system designed for use both by business owners and accountants, so it works on lots of different levels.

Now, am I suggesting that you drop everything and rush out to get iplicit? Probably not.

But getting access to a system like that is one of the advantages of working with our Outsourced Finance Department.

Our job is all about maximising your profit, helping you make much better financial decisions for your company and ensuring that your finances are managed like clockwork.

To do that, we need the best possible tools. And when you work with us, you can take advantage of them too – so you work with the best-in-class and have everything in place to facilitate your growth.

To find out more about how our Outsourced Finance Department can help you, just hit ‘reply’ or call me now on 01279 647 447.

We’ll help you build the business you want to be, in two… three… or five years’ time.

Warmly,

Garry

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The company owner took responsibility for building an accounting function which they understood very little about.

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