An accounting problem shared is a problem solved!
Have you considered outsourcing your finance and accounting function yet? The decision to outsource is not an easy one. It is a big step and there is no getting away from that – and yes it is true, there are risks involved. But reward and risk go hand-in-hand. With an experienced partner, and the right approach, it is a rewarding journey to take. If you have taken the decision to … Continue reading
Outsourcing bridges the accounting skills gap for SMEs
Running a small or medium business involves managing a range of priorities and challenges, many of which can needlessly burden the management team. By investing in qualified accounting resource, finance doesn’t need to contribute to the burden. In SMEs 36% of those responsible for finance and accounts do not have a relevant qualification According to recent research by the Association of Accounting Technicians (AAT) into how SMEs manage their accounting: … Continue reading
What is the role of the Finance Director?
The modern finance director has changed, no longer are they expected to just ‘count beans’ or be a ‘safe pair of hands’. So what exactly DOES a Finance Director do? As a supplier of part-time FD and interim FD services, we are often faced with clients who are not entirely sure what a finance director does, or why they should need one. “I have a financial controller who is more than … Continue reading
Good budgeting and planning is more than just financials
Every business management theory book, since the emergence of spreadsheets, highlights the importance of budgeting and planning but I am still surprised at how few small and medium sized companies budget or plan sufficiently. There is nothing more likely to accelerate business success than a coherent and accurate financial plan. On the flip side, nothing is more likely to jeopardise your business than the lack of a strong plan. Why then … Continue reading
Financial Reporting: Do you have the right information at the right time?
It is surprising how many businesses struggle to get timely and accurate financial information at the end of each month. Off-the-shelf accounting packages such as Xero, Sage and QuickBooks are cost effective and very good at what they do, hence their popularity, but when it comes to reporting they are very limited. Yet without accurate financial reporting – up-to-date visibility of how the business is performing against key business drivers how … Continue reading
Outsourced Accounting: What is the True Cost of an Employee?
When I am in a ‘sales’ situation explaining the benefits of outsourced accounting or a part time FD, one of the thorny issues I have to deal with is the question, “what is the real cost of an employee?” In fact, just the process of looking at outsourcing part of a business process is healthy because establishing the cost of an employee is one of the central questions that a … Continue reading
Visual analytics – making sense of the numbers
Too much data We live in a brave new world of Big Data and Business Intelligence (BI). In recent years there has been unparalleled investment in new technologies that bring together vast amounts of data from disparate, often unconnected, systems. Larger organisations can use tools such as OLAP to analyse and crunch data as never before in order to gain a competitive advantage. At the same time SMEs have been … Continue reading
I note with a smile that #cloudaccounting is now trending on Twitter but at the same time I’m kicking myself that I didn’t coin the term ‘cloud accounting’ five years ago when we developed ICE (the Isosceles Collaboration Engine)! Universal accessibility through the cloud, is not as most articles would have you believe, new. It is only the term ‘cloud accounting’ that is new. When we built ICE five years ago, … Continue reading