This gives you a competitive advantage15th January 2020
One of my friends used to be a bit of a luddite.
For years, he insisted on keeping his simple old Nokia phone when everyone else was switching over to smartphones.
“I don’t need access to the Internet on my phone,” he insisted. “All I need is to make phone calls.”
It took a few years but eventually he caved to the social pressure and invested in an iPhone.
Needless to say, he is now an iPhone evangelist.
He LOVES all the apps he has access to, which help him pay for items on the go, check his stocks no matter where he is, listen to podcasts while travelling…. And so much more!
When I recently teased him about his transformation, he told me that he would never go back.
“I didn’t understand the difference the technology would make to my life… Turns out I did need it – I just didn’t know it!”
Now, chances are you’re trying to wean yourself off your smartphone addiction, rather than move onto it…
Still, there’s a part of my friend’s experience I think we can all relate to.
If you already own technology that seems to be working well, it can be difficult to see why you need an upgrade when a more sophisticated version appears on the market.
Let’s take accounting software.
In my last blog, I explained that we are busy moving all our clients from our previous platform, Exchequer, onto a state-of-the-art, cloud-based system called Iplicit.
I wouldn’t blame you if you thought to yourself, “That’s lovely for them, but we don’t need this. We’re already doing just fine with our current platform.”
But while there is lots of perfectly good accounting software out there, the best accounting platforms can make a significant difference your life – and to your business – even though it can be hard to visualise this before you work with them.
Let me give you two examples.
All companies will process purchase invoices from their suppliers on their accounting system but then they’re sent out on paper for approval where all too frequently, they get lost in the mail or on a disorganised desk.
Once they’ve been approved, they still need to get back to be filed or recorded in some way…
It’s cumbersome, it’s full of potential for human error, invoices regularly get lost or delayed, and if there is a query down the line, it can be difficult to see what went wrong, and where.
In short, it’s a really inefficient way of working!
In Iplicit, the purchase order or invoice is created and processed on the accounting system, but is then authorised by you on the system or through a phone App. You even get an e-mail to nudge you to do it!
It’s filed automatically, electronically… And then the order is sent on directly to your suppliers with the click of a button!
It’s so much quicker, speeding up your entire operation (which can have a direct effect on managing your cashflow)…
You can see the status of all your POs at a glance, so you can control your finances much better….
There’s a perfect audit trail…
And paper is completely eliminated.
These aren’t small gains – they are business-changing.
And how about your management accounts?
They are normally static reports, printed on paper. You review them every month to ensure you properly understand your financial position and help your forward planning (hopefully you get these essential reports… Get in touch with me today if you don’t!).
But Iplicit will revolutionise your reporting, giving you so much more power as CEO.
It allows us to build interactive reports, so we can drill down into the numbers as we discuss them together, allowing us to create better forecasts and financial models for your business….
…And look much more closely at your business’s performance and identify more opportunities.
What’s more, we can build dashboards that are updated in real-time, so you not only see your figures once a month, but get up-to-date reports on the KPIs we’re tracking, whenever you like.
And because Iplicit is on the cloud, you can access them from wherever you like, too!
With this level of understanding of your numbers, the decisions you make for your business will be so much better, allowing you to grow faster.
Imagine how much more confident you will feel, with all the relevant numbers at your fingertips at all times…
…Not in a complicated format you can’t make head or tail of, but in a completely accessible, easy-to-digest format you are comfortable with.
Those are just a tiny fraction of the many advantages you gain with a market-leading system like Iplicit, which will also revolutionise the way you manage payments, taxes and credit control, keep employee records and invoice customers, manage projects… and so much more!
The truth is, the accounting platform you use matters to your business.
A good one doesn’t just allow your accounts to be handled smoothly – it gives your company a competitive advantage.
That’s why we’re moving our clients onto Iplicit.
When you work with us, we ensure that your finances are handled to the standards expected in the corporate world – even when you are much, much smaller.
Get in touch today to discuss how we can help you power your business forward.