Cloud Accounting is one key element of staying competitive.
In a recent news item, I touched on Digital Disruption and the Global Economy and the impacts they are having on Australian small business.
As highlighted by Deloitte in their series “Building the Lucky Country”, to be a digital survivor there are three broad responses available to businesses –
- Address the business’ Costs
- Address the business’ Revenue
- Address the overall Corporate Strategy
Cost
How does your cost structure compare to your new digital competitor? I suspect, the cost of running your business is currently between two to three times higher than compared to new competitors using technology, potentially from other geographical locations.
So how do you get more competitive? You could –
- Move aspects of your business Online
- Automate internal systems
- Streamline management processes
- Redeploy resources
These are the areas of your business that are most likely easiest to improve and the good news is we can assist you right now!
- We can help you get your accounting system online.
- We can help automate your financial processes including invoicing and debt collection.
- We can help streamline the management of your business by ensuring you have accurate, timely reporting and analysis of your businesses performance every month (or even every week if that is what you desire) so that you can genuinely monitor the performance of your business (for many for the first time) and so that you can make fully informed, timely decisions.
- And if you wish to improve further, we can help you redeploy resources by taking responsibility for your full back office accounting process, freeing up people, time and money.
- All of this is possible by using our recommended Cloud Accounting systems.
Revenue and Corporate Strategy
These are the tougher ones.
If your sources of revenue are drying up, you need to replace them with new ones …
Do you target new Sectors (product or service customisation), new Geographies (embrace the Global Economy) or adopt completely new business models?
Once you actually know how your business in performing, and your financial function is running effectively and efficiently without taking up your own time, our ongoing advisery and coaching services can assist you use that time better to further improve your business and to grasp opportunities as they arise.
Act Fast using Cloud Accounting
In the Deloitte video we referred you to last week (which, if you missed it, you can view it here) the question is asked …
“Does your business have the capacity to act decisively and fast?”
Well if you don’t consistently measure how your business is performing and don’t really know your numbers, then the answer is most likely a resounding NO!
Cloud Accounting can change your answer to YES!