Software needs to deliver hard results
Here are questions lots of business owners are asking:
“Don’t Xero, QuickBooks and all these apps just do it all? I can just take photos of receipts and that’s it isn’t it?”
There is so much chatter and advertising about what various software packages claim to do for business owners who want to smooth finance and spend less time messing about with receipts and on and on…
Some of our clients are in time precious industries where back-room admin is not top of the agenda! For instance those in building traders, landscaping and catering.
The answer to the questions is:
Software and Apps – It’s not like it says in the adverts!
Software – essential considerations
Get the right software – Ask and check
- Will it integrate with existing systems, software and apps you are already using?
- Training – What are the training requirement and who will need this?
- What Business requirements do you want to get out of the software and how can this be tailored to suit your company needs – for example Payroll, VAT, Invoicing and Financial overview?
- What is the real cost to the company eg including subscription, setup and training?
- Can you have a good demonstration and back up support if needed?
Benefits to using Software
All these benefits are about saving you time which saves you money!
- Consistency – financial accuracy.
- A tool as part of decision making with your finance professionals.
- Accessibility – proper up to date Information is readily available.
- Cash flow information – Trade/Creditors reports can be produced to ensure you are keeping on top of your finances.
- Compliance – Making Submissions to HMRC easier and accurate.
- Communications – shared access with you Bookkeeper/Accountant.
- Forward thinking easier– information as part of decision/planning.
Pitfalls to Consider
- Think through what you need for now and the future – don’t be fooled by sales spin!
- Avoiding hassle – incorrect set up of income and expenses accounts can be time consuming and costly in the future.
- Avoiding disruption – make sure your previous data is uploaded properly.
- Most software companies will offer different pricing plans which are tailored. Not all will suit your needs. Picking the correct package for your business size and needs takes time, thought and advice.
- Allowing the right employee access – different roles need different access levels.
Working this through smoothly needs planning properly.
- Up to date ready for changes – make sure the software is MTD ready.
Software and Apps cannot do everything –
Prepare your financial accounts, and Companies House requirements.
- Develop and measure your marketing and sales plans.
- Advise you on any financial and business decisions for the future.
- Keep you up to date on HMRC changes, finance advice to your advantage.
How can The Real Business Club help me get the best?
Simple – give us a call. Our in house finance software experts can talk you through and make this clear FOR YOU.
Are you clear on your business finances more broadly?
If you are not sure what is going on with your money, how you can make more or whether your finance advisers are doing the right things for you then give Dawn a call for a no obligations conversation.
If you want to build your business and reduce your stress levels then talk to us!
We get alongside business owners and their staff, take the fear and pain out and release owners to do what they want to do.
Contact Dawn Edwards on 07896 665104. Dawn leads our team delivering common sense clever finance services.
“Your business finances – not just a once a year relationship”