Accounting Outsourcing Blog

A lot of the time-management tips out there deal with eliminating waste in your daily procedures. But these tips miss out on the biggest time-saving question there is – should you be doing those tasks at all? The real key to running your business at full speed isn’t getting through every single job at breakneck speed – instead your focus should be on figuring out which jobs you should be doing, and those that you should be cutting from your personal schedule.

It’s absolutely true that missteps, mistakes, blunders, and outright errors can lead to wonderful insights. But there is no law that says that you have to be the one making these mistakes – you’re free to learn from the mistakes of others. We’ve worked with more than our fair share of firm owners, CEOs, and management execs and we’ve managed to compile a list of some of the more common errors we see all the time.

A lot of companies have had enough with the whole recruitment process and are looking for ways to simplify or completely remove every stage involved with HR and its many ongoing requirements. BOSS is seeing a big move towards online bookkeeping services amongst every size of businesses. This week Seek announced they would be giving employers the opportunity to mask the names of candidates as they search through their site.

It was reported by the Radicati Group (a technology market research firm) that 1.9 billion non-spam emails are sent every single day and by 2019 the average business user will receive 96 emails per day! So fighting your way through a deluge of emails for a chance to be opened is becoming a tough business in itself.

The accountancy profession is going through a massive change as technology and the move to outsource accounting is enabling firms to provide a better advisory service, control costs better and have a flexible core compliance workforce. The change is inevitable for all firms but managing the change well is of the upmost importance.

It’s a fairly obvious thing to do – in order to figure out if your firm is blossoming or withering you set up a measuring stick and make a notch each financial quarter. What is perhaps not quite so obvious is what those notches should represent. An auto-shop can have the most efficient tools in the world, but the garage itself isn’t going to prosper if there aren’t happy clients wanting them to be used. So, in terms of your firm’s health, what should you be measuring instead?

You have great employees. You’re outsourcing. You’re a wizard at accounting itself. And none of it matters because you have no clients. That being said, what do you do if you’re a brand new start-up and you just straight up don’t have the money? It’s time to get the word out that you’re the expert accountant when it comes to something. Anything at all.

There’s a common chain of events that plagues struggling accounting firms. To stay competitive there’s only one thing you can really do – lower your prices. And all the while you’re scrambling to grab up even more low-value clients which in itself costs more time, and of course it also means you’re continuously adding to your workload just to break even.