NORTH CAROLINA ACCOUNTANTS
Give Clients more than just Accounting
Clients Want More and Are Demanding More!
GIVE THEM GUIDANCE AND CONSULTATION
It has been apparent over the last couple of years that the buying business public didn't just want numbers crunching but wanted their accountants to help them with the complex problems that are associated with running and operating a small to medium sized business. Bookkeeping and computers can do accounting but only the accounting professional can provide many of the answers that the business people need to stay in business and be profitable. By just selling and providing accounting, the practitioner is selling a commodity that is provided by all other accountants, bookkeepers and computers. Selling a commodity limits how much you can charge by providing accounting PLUS guidance and consultation. It allows the modern accounting professional to put his or her service above the rest of the field. Bottom line is this builds value in your services and means more profits for you.
Great Reasons to Explore a Business Loan
Business loans aren't just available for businesses that might be in distress. In fact, the majority of business loans are being funded for healthy prospects. Business owners, or even entrepreneurs starting a new business, have a variety of reasons to look into financing early in the game. Money is the lifeblood of any business, and when it begins to grow like a ravenous teenager going into puberty, it's time to find more money to support that growth. You can look to small business loans, hard money, or merchant cash advance. Contracting Payroll service providers is a good way to manage your work and to keep you focused on your business. Times when a business will need more financing are: during startup, to expand your services, to upgrade equipment , renew office supplies, or to buy-out a competitor or new branch for your business.
Paycom's personal payroll service providers and payroll services do more, cost less and free you from the constraints of traditional software.
One of the biggest times when money is essential is during the startup phase. You will have to rent a place to do business, get new equipment, order office supplies, and maybe even hire people. Just designing your own logo or website can require significant amounts of capital.
One way to keep your business healthy is to expand the level of service to your existing customers. This gives your portfolio of business offerings a strength it doesn't have when it just concentrates on one or two. It will also help to increase your income in the long run, and make your business more sustainable.
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Technology has a bad habit of making itself obsolete in a few years. If you're not paying attention to the trends, you can get outdated pretty fast. To stay competitive, you do have to upgrade your equipment to keep abreast of the latest technological developments, and that costs money.
If you get an opportunity to buy-out a competitor and expand your market share, that opportunity may have a limited window before it expires. If you've already located ready sources of financing for such a venture, it's not tough to make the decision that will help you grow and prosper fairly quickly, at a minimum of risk and expense on your part.
It goes without saying that Accountants are not just there to do the numbers at the end of the year.Accountants need be used before, during and after to make those numbers as positive as possible.
Accountants are specialised business advisors and should be contracted to advise on everything from hiring to firing, from risk management to profit drivers, get your accountant to advise you.
Additionally, certain accountants with professional qualifications can point you in the right direction on financial matters to companies who can advise their clients on tax efficient schemes. Even if they cannot advise directly, they usually have partnerships with certain trade bodies they can refer you on to.
Work Flow.what is Work Flow?
It never ceases to amaze me how often we, seasoned practitioners of ECM, make naïve assumptions about how much knowledge the industry has on what we do! We spend research and marketing dollars discussing the smallest minutiae of the tree with clients that are not even aware of their need to be in a forest…
I was recently involved in a discussion with a potential client, exalting the merits of combined content management, business process management, team collaboration in a single platform, etc., when I was confronted with the rather alarming statement of "well, workflow is only really needed for monitoring where a piece of work has gone to." Talk about coming back to earth with a thud!
It made me realize that unless I could quickly go back to basic principles and articulate what basic, core benefits a workflow system brings to the business and forget the days when tax extensions were the norm. I remember all the times I had to double check my tax deductions by hand and taking account of capital gains and losses, but now with certain tax software and electronic filing, taxes come quick and easy. Even different tax forms including the 1040EZ tax return, federal and local tax forms are easy to fill out. Any discussion around process optimization, in-process integration or agile decisions would have been futile and entirely wasted.So, at the risk of stating what for many is obvious, here is my take on the shortest possible definition of what workflow is, by way of the core benefits that it brings to the business:
What is Workflow?
Forces businesses to have clearly articulated and documented processes
Drives the process proactively, enforcing, and monitoring deadlines (i.e., helps to meet targets and service level agreements)
Allows processes to be repeated consistently
Automates tasks and decision-making
Provides measurable and reportable statistics
Reduces time and cost by avoiding "dead time" between process steps
Creates an audit trail so that you can demonstrate compliance to the process
Defines and ensures correct application of roles and responsibilities
And while we are into the concept of short definitions, here are the added benefits for businesses that make the transition from workflow to full-scale business process management:
Where workflow ensures that the process is correctly applied to the business, BPM manages the process itself as an entity
Manages the process definition and lifecycle reducing risk of errors
Provides extensive analytics, modelling, and simulation to allow predictable process optimization
Offers operational managers the tools to monitor and control real-time performance and optimize resource allocation
Makes it easier to accommodate process change with minimal operational disruption
Reduces risk and increases confidence in the process by adding predictability and testing
For anyone who has worked with workflow and document management products in the last decade, a lot of these concepts have become obvious and almost second-nature. We take this understanding for granted and leap straight into the more detailed issues such as implementation strategies, product differentiators, use of rules engines, value of re-engineering, etc.
Yet, if we take into account that workflow has been around as a technology for more than 14 years, the overall penetration of electronic process management within the business environment is still incredibly small. Why has a tool with so much potential for immediate business benefit been so slow in penetrating the market? I believe that there are two main reasons for this.
First of all, lack of understanding of the benefits. We are often guilty of taking these fundamental workflow characteristics for granted, and assuming that our colleagues and clients all understand these basic principles and can immediately recognize the benefits. Potential clients are often overwhelmed by, and naturally cautious of, all the claims of benefit and return on investment associated with workflow products. While the stories are perfectly true and the benefits well documented, business users need to understand that the main driver for these achievements is not the functionality of the product itself, but the discipline it brings to the operational environment and the opportunity for process improvement. The tool is just the enabler for business change.
The second reason, and perhaps the most difficult to address, stems from the workflow benefits themselves. In order to achieve these great process improvements and cost savings, businesses need to understand, document, and standardize their business processes. This requires a significant investment of internal resources, usually the most knowledgeable and therefore the most expensive and rare ones, which businesses are reluctant to relinquish to an internal project. Process management projects also imply fundamental business changes, often imposing a stricter discipline, which inevitably meets with users' natural resistance to change.
The only way to overcome these objections is executive level sponsorship. Sponsorship which goes beyond signing the relevant budget and lending the name of a senior executive as sponsor to the project. The business, at the executive board level, needs to want to change. They need to believe the value of the benefits, be prepared to underwrite them through personal commitment, internal education, and continuous encouragement.
We all know what workflow is, right? I challenge you however to play a little game: Ask your colleagues, your IT managers, or one of your executives to give you a simple list of the key benefits workflow, or business process management, can bring to the business. Compare the answers you get with the list above and see how many of the core benefits they can match.
And if you are in the privileged position of already running process management projects, confirm that all the benefits mentioned above have been taken into account, are being leveraged, and have measurable targets that everyone understands. If not, there might be a lot more value that your process management efforts can deliver.