Establishment of processes in a business usually start off small. Manually written quotes and invoices are a good example. As business grows and what used to be “in someone’s head” needs to become more formalised as the volume of work increases. What worked well in the past may no longer work well in the future.
As a business grows, processes need to be reviewed and improved to ensure overhead costs and problems are kept to a minimum and don’t put your business at risk of failure. Business Process Improvement needs to be targeted to ensure you get a quick return on investment and support the growth of your business!
Fox example you can reduce costs and save time by very simple processes such as going completely paperless by implementing the processes and systems to do it such as:
- Accounting system – Xero Accounting is completely in the cloud. No installations, no upgrades, unlimited users, no user manuals, backup etc.
- Supplier invoices – There are several ways of keeping this information electronically, for example In Xero – You can now attach electronic copies of all your original Bills and expense receipts directly in Xero. Documents can be scanned, uploaded and attached to purchases and expense claims. Receipts for Expense Claims can uploaded from iPhone or Android apps. Xero holds all information for 7 years.
- Online Storage – set up DropBox or Google Drive accounts for storage. There are many great benefits:
- Files can be shared with others your invite
- Files are available on all your devices – synced
- Files are backed up online as well as on your computer. So when you have to set up a new computer (for any reason) all the data is available on your new computer when set up correctly.
- Bank statements.
Organise with your bank for online statements only. Download and store in your DropBox or Google Drive if necessary. In any case the statements can be automatically uploaded to Xero via automatic feeds and also automating the bank reconciliation process will save valuable time and resource.
- Ask all your suppliers to email their invoices – no more paper
At Accounting & IT consultants we can review & streamline all your processes by use of IT systems, cloud accounting systems, use of Microsoft access database etc.