Falling behind (without realising it)?07th July 2021
Over the past 15 years, lots of professions have changed dramatically.
For example, being a journalist in 2021 is very different to being a journalist in 2006.
Thanks to the Internet, journalists have to publish their reports much faster...
They need to pay attention to videos and tweets posted in real-time by regular citizens on social media...
And they have to be a lot more responsive to the opinions of the general public, who can comment on every article within seconds.
Medicine is changing, too. Doctors can now offer patients virtual consultations without ever bringing them into the surgery...
They can access electronic records for each patient, giving them a lot more information before treating them...
And they’ve had to become used to patients researching their own symptoms online, and coming to appointments armed with their own “knowledge” (often completely wrong!).
Your own industry is probably changing rapidly as well.
And I’m sure you’ve made a big effort to keep up with the times - you don’t want to fall behind.
But you’ve probably never thought about the way that my profession - accountancy - is changing too, also thanks to technological advances.
Lots of tasks that would have taken hours just a few years ago - like logging and processing bills or sending invoices - can be done in minutes today, as our accounting platforms become more sophisticated.
This helps businesses run much more smoothly, efficiently - and pleasantly!
We’re increasingly moving onto the cloud, so people can create expense claims, reconcile accounts and add receipts from absolutely anywhere - even from their smartphones. It’s so much more convenient.
And the platforms can take your financial transactions and turn them into useful information about your business in real-time.
It’s so much easier than before to understand what’s really going on financially in your business at any given moment, giving you more control over your company.
The problem is, lots of businesses still manage their accounts like it were 2010 or 2015...
For example, relying on spreadsheets to do their accounts, recording financial information on slips of paper and processing all their bills and invoices with written copies.
Or maybe they do have an accounting platform, but they’re still using one which they installed in the business 5-6 years ago - which in accounting terms is practically stone age.
If you’re doing that, it might feel pretty comfortable. After all, you’ve been working that way for a long time, and you’re still here to tell the tale!
But you might not realise that all around you, other businesses - including your competitors - are changing the way they manage their accounts, doing it all in much faster, slicker ways. And that’s actually helping their business function better.
You’re falling horribly behind compared to your peers, putting yourself at a competitive disadvantage.
It’s a bit like a journalist who refuses to write for their newspaper website....
Or a doctor who prefers to write their patient notes on paper instead of recording them electronically.
That was perfectly good enough within living memory. But today it’s just a cumbersome way of doing things.
That’s why we recently upgraded our accounting platform, moving to a really smooth system called iplicit.
To give our clients world-class service, we always need to use best-in-class technology.
And it’s why we install the same cutting-edge accounting technology in our clients’ businesses as well.
Using up-to-date accounting software is simply part of running a professional, ambitious business nowadays.
Getting access to that kind of technology (without going to the bother of having to pick it or install it) is one of the advantages of working with our Outsourced Finance Department.
To find out more about how we can help you manage your finances to world-class standards, just hit reply to this email or call us today on 01279 647 447. I’ll get right back to you.
Outsource my finances | I need an FD | I'm looking for a Finance Director | My business is struggling | I want better financial management | I need better accounts software | I need a better accountant | My financial systems are a mess | my business is failing | Interim FD | I need help with business development | I want help with my accounts | I want to replace my bookkeeper | I'm looking for an outsourced finance department | Accountants in Essex | Stansted Accountant | Finance function outsourcing |