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Business Management

Top Tips: Removing the Burden of Accounting

phill-robinson-colourPhill Robinson is currently CEO of IRIS Software Group. He brings to IRIS a broad combination of business development, product strategy and executive management experience that has helped to build major software organisations in Europe, including Siebel Systems and Salesforce.com. During his time with Salesforce, Phill also held positions of Chief Marketing Officer and Chief Operating Officer, Sales & Distribution, based in San Francisco.

Phill shares 5 top tips on how small business owners can minimise day-to-day accounting frustrations.


The key to longevity in the commercial world is to eliminate common business problems, for example those tasks and processes which can be time consuming and costly such as business accounts.

Here are 5 ways to simplify daily tasks associated with running a business and free up your time to focus on core business activities.

1.         Visibility is Key

Small business owners often waste valuable time due to accounts systems which are incapable of sufficiently updating information. In other words, correct data will offer an accurate indication of who owes what. Using a system which allows owners, staff and accountants to look at the same information in real time gives visibility of cash flow. This secures the company as a whole by informing important business decisions.

2.         Don’t Duplicate

It is important small businesses focus on saving time, improving accuracy and removing duplication of effort. Automating processes such as cash flow management can allow small businesses to save resources whilst removing the risk of problems that are caused by human error.

3.         Accessibility

Ensure your accounts are easily accessible and can be updated by more than one person in the business so they can see an accurate picture of the business finances at any time. This permits the bookkeeper, business owner and anyone else in the company who needs to access the accounts to update information in their own time.

4.         The Cloud

Cash flow can be particularly troublesome for smaller companies. However, moving accounts away from spreadsheets or traditional desktop software to cloud solutions such as KashFlow from IRIS provides business owners with the flexibility to submit an invoice or receive a full update on cash flow for example, from wherever and whenever. Setting up and growing a business can incur unpredictable costs which can affect cash flow. Therefore, cash flow management is essential to overall business success and without it, your business could be at risk of failing to meet its potential.

5.         One Size Doesn’t Fit All

Every customer is unique. In other words, don’t fall into the trap of working from software that has non-specific accounting processes. It won’t be tailored to your needs or the requirements of the business. For example, the software may include mandatory fields for data that isn’t applicable to your business, which can result in time being wasted inputting information that is redundant.

 

Phill Robinson is CEO of IRIS Software Group

 

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