We were working with a husband-and-wife team whose business had recently reached a turnover of £2 million.
But all that business meant hard work, and lots of it. Every week, they would spend three full days ploughing through their accounts - themselves.
They had no free time, which was putting enormous stress on their relationship. They were drowning in paperwork. And they were constantly struggling with a job they shouldn’t have been doing, leading to mistakes and frayed tempers.
When I suggested that we could automate much of the process, the husband practically cried with relief.
- Too much admin. Every financial task takes ages and there is so much paperwork! You’re doing things the longwinded way
- Bookkeeping is always out-of-date because staff do not have time or capability to get it done on time
- Your company has grown to several divisions, but your accounting reports still only shows one…
- Too many short-cuts. For example, there’s just one line for “Expenses” rather than a meaningful breakdown of what kind of costs you are incurring. The information in your accounts isn’t useful to you.
- Not accessible. Only one person has access to the software. Directors who need easy access to your accounts don’t have it.
- You haven’t upgraded your accounts package in years. You’re using an old version which isn’t supported anymore and it keeps crashing. Or you have lots of systems which are simply not talking to one another.
In fact, you’re lucky if there have been no major repercussions already, such as missing money that you are owed, terrible cashflow or suddenly facing a tax bill that is much larger than you expected.