In these difficult and uncertain times, ensuring business continuity is vital. Whatever business you are in, your finance team is important to ensure that staff get paid, invoices are raised, money is collected, and supplier invoices are processed in a timely manner.
Getting the basics right by choosing an appropriate accounting solution for your business, will ensure your finances are properly managed and not impacted by working from home arrangements. This is where cloud accounting software and connected 3rd party apps are making it easier for businesses everywhere.
Switching to cloud software will bring instant benefits, providing access to readily available and live information, automatic bank feeds, copy invoices stored in the cloud and enhanced data security. The software itself is a monthly subscription, with switching made easy and straightforward to learn.
Once you are using cloud software, you unlock a world of additional benefits to you and your business. The cloud ecosystem has developed fast, with the following being examples of some of the business solutions available to you.
- Automated bookkeeping and data extraction
- Expense claim and mileage capture
- Authorisation workflows
- Virtual credit control
- Invoice payment by direct debit and credit card
- Improved cash flow and forecasting
- Enhanced management information
- Budgeting tools to aid planning and analysis
Each of these is provided on a monthly subscription basis, driving time and efficiency savings for your business. The time taken to set up and start using is small, so the positive impacts will be realised immediately.
At PEM our Virtual Finance Office (VFO) provides outsourced accounting services to many clients, using these cloud solutions. We are also set up to provide cloud conversion services and support/guidance to help you unlock the full benefits.
If you’d like to discuss further, please contact Andy Turpin.
