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All too often, organisations implement a new software system and fail to include the processes and people in their planning. Having a fundamental understanding of the current processes in place and how each will align to new system functionality, as well as identifying and profiling end users, will help account for everything and everyone that will be impacted.
ARGOLD Business Services proven ability to manage system change allows business to bring in expertise into the business to manage this change to ensure the client get the system including setup to meet existing and future needs. Planning at the beginning saves vast dollars throughout the actual implementation phase and certainly post ‘GO LIVE’. Poor planning together with unstaged implementation results in unnecessary expense ‘fixing’ or changing poorly built systems in a ‘Live’ environment.
ARGOLD Business Services with its experience in system implementation and high level accounting background brings implementations together by effectively doing the following:
Ensure that the On Seller has a clear understanding of what the client wants to get from the system
If you do not clearly define what you want from a system up-front, how can you ensure that you are getting what you need in the end? Clear, precise metrics are the measurements of success in any implementation.
Ensure the automation of inefficient or ineffective processes from existing system are removed from the ‘new’ system
When processes are convoluted and inefficient today (especially if performed manually), they likely won’t function any better when automated. ARGOLD Business Services will prior to a new system implementation use this as an ideal time to re-examine and streamline workflows which later become part of the training in the ‘roll out’ stage.
Ensure realistic implementation timelines are in place
ARGOLD Business Services seeks as part of the planning stage to allocate ample time to analyse, design, plan, test and execute system change. This allows for the “unknowns” that may be unearthed during the process to be accounted and brought within the scope of work required to be done, training to be provided including writing How 2 material to assist with changeover, and provide a systematic, staged change out which allows staff to embrace the new system and processes in a positive manner.
Ensure allocation of the ‘right’ type of resources
ARGOLD Business Services does not believe capacity equals quality. The role of a skilled and experienced business analyst is critical in a new system implementation. The business analyst works with the organisation to clearly understand the problems, issues, opportunities, and goals specific to the project. Once those are identified, the business analyst,in their role as Project Manager, or in conjunction with the Project Manager plan each stage down to specific details to deliver on the objectives and expectations for the implementation.
Ensure End User Participation
An implementation will not be successful if end users don’t embrace the new system. Training and tools are key to user adoption, as is establishing ‘super’ users of the network as these people will assist even advocate for the project and user adoption before, during, and after the implementation.
The Team at ARGOLD Business Services would maintain that “Peace of Mind” is the single most of important reason to maintain excellent accounts.
Disorganised books can weigh heavy on your mind as a business owner. With all of the other factors of running a business, your bookkeeping should not be keeping you up at night.
When your books are complete, you can rest easy knowing that your company’s financial information is review ready. Banks or the ATO no longer have to give you anxiety. Instead, you’ll find your mind at ease and more focused on other elements of your business.
How does excellent bookkeeping assist your business?
Being organised is a skill every business owner needs to have. Bookkeeping is the organisation of financial information. Keeping your financial records organised makes it easier to locate and provide to appropriate parties.
Having information at your fingertips helps your business with provision of information to outside parties such as banks, regulatory authorities, employees and so forth. Being able to provide the information requested by these parties may from time to time be vital to your ongoing operation.
Most importantly of all it is the basis of information/data as the baseline for the success of your business as follows:
Greater Focus on Strategy & Planning results from having a good understanding of your business. Bookkeeping will give you the clear picture of what exactly works or doesn’t work. Tactical and strategic planning is the core of what you do as a business owner. You’re always thinking of ways to grow and develop your business. With bookkeeping as a tool, you are closer to your short and long-term goals. Bookkeeping not only helps with planning for strategic purposes but also plays a major role in tax planning.
Preparing Budgets creates a financial roadmap for your business. With a budget, you can plan for future expenses and the anticipated resources that would cover those expenses.
Analysis is a tool used by management to analyse business performance. The product of bookkeeping is the generation of financial statements which allows for the analysis of business performance focusing on business strengths and improvement on business weaknesses.
Better Decision Making by business managers is derived from excellent bookkeeping practices. How can a business make profitable decisions without financial information to back it up?
Bookkeeping is important because it allows you to take control of your business’ finances. Bookkeeping paints a clear picture of how you earn/spend money. This allows to you wisely target your spending to maximise your earning potential and/or reduce your costs in non-profitable lines of business.
How does this assist the success of your business:
Cash Flow Management is this delicate balance of cash inflow and outflow and it is this that will keep your business going. Poor cashflow management is one of the top reason’s businesses fail. Without bookkeeping or accounting, you are blindly driving your business. Bookkeeping improves your ability to manage cash flow by giving you the raw data to improve/institute cash flow policies. The routine recording of revenues, expenses, liabilities, and receivables, will allow you to track when your customer and vendor invoices are paid. As a business, you want to ensure that your customer invoices are being paid in a timely manner and vendor invoices are paid as due.
Tracking Profit and Growth of your Business over time, will allow to accumulate months and years of data. Bookkeeping provides the mechanism for tracking of this valuable data so you observe trends and gain a greater understanding of your business cycles and compare results across periods.
Businesses are required to lodge a tax return one way or another every year. Some business organisations are also required to have their accounts audited. The tax filing and/or audit process can be made more efficient by simply having a bookkeeping function within your business which significantly reduces overall business costs in relation to compliance with statutory guidelines. Messy books prolong the taxation/auditing process, making your business more susceptible to high fees and/or penalties.