Let’s face it, owning a small business is exciting but doing accounting isn’t. It’s important to have a solid understanding of your company’s cashflow but a lot of work is needed to get there. Traditional accounting software requires a great deal of data entry, making busy small business owners feel like they are neglecting other responsibilities by spending hours chained to to their desktop.
Many small business owners start off using an Excel spreadsheet to keep track of their company finances. While this method is fine early on, it can quickly create problems as the business grows and becomes more complex.
Excel requires manual data entry, copy and pasting, and users to enter formulas, all of which will inevitably lead to errors. Planning the layout of spreadsheets can be complicated and time consuming. And once the format is set, it’s almost impossible to alter it if data has been populated. Perhaps most alarming aspect is the fact that spreadsheets are easily susceptible to fraud. A number can easily be changed without recording who made it.
Finding the right accountant for your business is as important as choosing the right business partner. Your accountant becomes a true colleague; someone you can trust and depend on. Someone who, as your business grows, will offer you the financial guidance and advice you need to succeed. But first you’ve got to find the perfect accountant for you – so, how do you find them?
If you’ve ever been shopping around for Email Service Providers (ESPs), chances are you’ve come across the word ‘deliverability’. You won’t find it in any dictionary, so what exactly does this mystery word mean?
Deliverability is an umbrella term used by ESPs to measure the success or chances of an email being delivered.
Email marketing remains one of the most popular and effective marketing tools today because of its high adoption rate amongst consumers. Customers often prefer email as a communication channel when receiving commercial messages, which is likely why the 2014 State of Marketing report from the Salesforce ExactTarget Marketing Cloud revealed that 68 per cent of marketers view email as a core function to their business, and that 58 per cent also plan to increase their email spend this year.
Do you actually know how much paper your business currently uses? My guess is that small and medium businesses have a clearer idea than large corporates. But even so, in my experience, paper and printing costs tend to be ignored when it comes to cutting down on overheads.
Much has been written about the paperless world; a world where all information is digital or, at the very least, securely archived and readily accessible electronically. Yet every year, at least one study discovers that organisations are creating and using more paper documents than they did the year before and in fact, the use of paper is actually increasing in a third of firms.
Most small businesses whether well-established or fast-moving new start-ups are spending more than they need on printing. Sometimes they are run by busy entrepreneurs with little time to focus on this challenge, often though the issue is that the business simply does not know how to manage, control or measure their day-to-day printing overheads.
Corporate networks can be vulnerable to malicious hackers. By cracking passwords and mapping handsets and telephone numbers, a hacker can gain access to a network and then sell this information on to external groups which make long distance calls on the corporate PBX, potentially racking up thousands of pounds in charges.
The Bring Your Own Device (BYOD) phenomenon is sweeping over businesses large and small like a tidal wave. Recent data from market research provider, Vanson Bourne indicates that it is rapidly becoming the norm within businesses, with 84% of UK IT decision-makers reporting that employees are using their devices for work purposes.
There is a suggestion that firms should reduce their dependence on paper and move towards a seamless and secure paper-free world. A world where all information is digital or, at the very least, securely archived and readily accessible so that it can unleash its full value into the business. And every year, at least one study discovers that organisations are, yet again, creating and using more paper documents than they did the year before. In fact, the use of paper is actually increasing in a third of firms*.