Is Your Business Missing The Vital Strategic Partner To Fast Track Your Growth?
The accountancy field is changing. You don’t have to look to many accounting firms to realise that what you learned in business school no longer applies.
Software has changed the way business is done and it’s turned the entire accountancy field upside down. In this industry, it is either be in the cloud or face being made redundant. Technology is moving at too fast a pace for anyone serious about their practice to continue with a compliance based business model.
Accountants are now the most affordable strategic alliance you can bring aboard your business. The sooner you do, the faster you’ll grow. The reason for this is because of the speedy nature of the services available.
A few years back, accountants could take a number of clients under their wings, receive their financials once a month or as often was the case, once per year for the annual tax returns.
All that was left to do was enter the digits into the right fields, provide advice on compliance issues and offer assistance on tax efficiency. More value could be had by paying more for the billable time, and that’s what’s kept a lot of potentially fast growing companies at bay.
They stalled because they lacked the strategic alliance of more than a financial compliance officer but instead a business wide advisor.
With cloud accounting being so accessible to the masses, this is enabling strategic partnerships to take place between small owner managed businesses, and putting them on the fast track to becoming incorporated when the company grows because they have the expertise through a partnership with professionals advising on investment strategies, capital expenditure, reductions, operational efficiencies and so much more.
The main benefit though is that the time strapped owner managers are able to talk shop with a financial partner who knows about cash flow efficiency and how to maximise efficiencies business wide rather than simply focusing on the legal tax compliance issues.
If you’re not using the cloud services, you’re missing a vital component that’s stalling your business growth.
In a nutshell, cloud accounting such as that with the Xero platform enables…
- Strategic partnerships to smaller businesses
- Fast growth, sometimes rapid expansion
- Remote access to improve collaboration
- Real time data sharing so everyone is on the same page
- Advice across your entire business and not just on your finances
Today it’s all about value adding and that’s happening within accountancy firms and with the software providers.
It’s cheaper, it’s better and it’s just plain easier all round.
Even better is that you no longer have to deal with the dreaded chores of paperwork. Business owners don’t need to be stereotyped as paper pushers these days because there’s far more time to do your real work, rather than mess around with the dinky paperwork to assess your finances consistently, only trying to convince yourself that you’re on the right tracks.
With the right software in your corner, there’s no guessing. Right on your dashboard is all the vital elements of your accounts, so you always know where you are. When you’ve a strategic partner with you, it’s only a phone call if you’re ever stuck and you don’t need to wait weeks to speak to someone about your concerns. Today, accounting is more of collaboration rather than compliance.