THIS makes your life easier23rd June 2021
There is a shelf unit in our office, which is packed full of files.
For the past few months, they’ve been lying empty.
When our team returns full-time to the office, one of the first things I’m going to do is ask someone to clear out all these files - or give them away!
The reason isn’t that we have less work than before... Quite the opposite.
It’s that we recently migrated both ourselves and our clients to a top-of-the-range accounting platform called iplicit. We used to love our old system, Exchequer, but this is a significant upgrade which makes everyone’s life easier.
For example, it’s allowed both us and our clients to largely eliminate paper when it comes to anything accounting-related. (Which is why we no longer need all those files!)
So for example, late yesterday, a string of notifications popped up on my screen informing me that a client had approved 11 outstanding invoices.
I couldn’t have been happier, because until recently, getting his invoices approved was quite a struggle... His secretary would print out each invoice that came in and place it on his desk, where it would gather dust for several weeks, get buried under a pile of other paperwork and occasionally get lost.
He’d glance at the invoices, get annoyed at the growing pile, and go do something else.
Our own team spend hours each month trying to figure out what happened to all the invoices and how we were going to politely cajole our client to approve them...
Now - he just has to log into iplicit, click a button, and it’s all done in less than 90 seconds.
If he doesn’t deal with the invoices, the system nudges him to do it electronically.
It’s clean. It’s easy - and this client isn’t even techy.
And you can handle dozens of transactions and financial issues the exact same way - like raising sales invoices or logging your expenses.
Take the latter. All you need to do is take a screenshot of your receipt and attach it to the system, just like you’d attach a screenshot to an email. The system does the rest.
It’s simple and intuitive.
The upshot is that all your bills, invoices and payments move through the system a lot faster. This is important - it helps keep your financial affairs organised and is a far more efficient way of working.
And you and our team can both see more clearly what’s going on with your finances, because all your financial information is stored in one, accessible place. Nothing gets lost. The status of every payment and every transaction is always clear at a glance. It’s a lot less stressful for everyone involved!
Finally, as a business owner, you get a lot more control over your finances. Not only do you have more well-organised information at the tip of your fingertips (or rather, on your screen), but it’s easier than ever to initiate and process transactions.
So why am I telling you all this?
Because many companies are still operating with very basic accounting software - or handling most of their accounts on paper.
If that’s the case for you, you’re being left behind.
What I just described to you - a paperless approach to accounting - is rapidly becoming standard. We’ve been moving in that direction for years, but it all accelerated rapidly during COVID, when everyone moved online.
If you’re still working with Excel spreadsheets, lots of paper or have a platform you’re not quite sure how to use, you don’t have to struggle. Actually, it’s important that you don’t - because when the way you deal with cash is messy, your whole business is dragged down.
There are excellent accounting platforms out there which can make your life so much easier.
We have one of the very best ones - which we set up for all our clients without them having to lift a finger. And we can do the same for you, too.
It’s one of the perks of working with a high-level outsourced finance department like ours.
We need to work with the very best technology - and our clients all benefit, getting access to a top-of-the-range accounting platform they otherwise probably wouldn’t have worked with until they were much larger.
To find out more about how we can help you upgrade your financial management and make it truly world-class, email me or call us now on 01279 647 447.
We’d love to help you.
PS. If you already have a good accounting platform, you might be wondering how this is different or better. And you also might be wondering: “Why bother switching? What I have is good enough!”
I’m going to explain how to pick the right accounting software for your business - and when you need to upgrade - in my next blog, so watch out for that!
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