Most businesses, whatever they do, are repetitive and cry out for systems and processes.
These should be simple and applied consistently. They should not be side-stepped or over-ridden except in rare circumstances.
And, where appropriate, technology should be invested in to lower costs and increase speed and accuracy.
People should be accountable and responsible for their part in each system so if bottlenecks or failures occur they can be remedied.
Business processes should also take place in good time.
Anyone can raise sales invoices six weeks late, but getting them out of the door to clients correctly and punctually is what helps cashflow!
An often used phrase is “work on the business not in the business” articulated in The E Myth, Michael Gerber’s very successful books for helping small businesses.
A central tenet is that it’s a lot easier to sell for a high value a business that has strong systems – essentially, when a potential buyer asks how the business works all you have to do is hand over the operations manual.
So, whether you’re looking to sell at some stage in the future or simply looking to make more money from a growing business, the message is clear – get your business processes to work every day and to work right first time.
Accounting technology, especially with the advent of AI, changes frequently and it’s sometimes hard to keep up.
It can also be hard to conquer your fear of missing out (FOMO).
But just because it’s tech doesn’t make it useful, so we ask this question every time something new comes our way:
“Does this technology produce a significantly better outcome to a meaningful problem?”
And if we find something that’s really useful then we’ll use it.
Knowing that the real trick with the adoption of a new app or program is to get the process working manually first and then bring in the tech.
For sure, we should be asking computers to do the heavy lifting because they save time and money.
But technology for the sake of technology is not the road to travel.
Process financial transactions accurately and on time — without duplication or wasted effort — and you generate the insight and information you’re looking for much sooner.
Follow our golden rule: NED2 – Never Enter Data Twice.
Every business has a “Goldilocks” level of tech — not too much, not too little. Focus on tools that save time and reduce errors, not the latest trend. Always maintain strong data backups.
Work backwards from the outcome you want — like monthly management accounts — and map the steps to get there. Ensure tasks happen in the right order and at the right time.
No. Technology should serve your business, not the other way around. However, some processes (like filing VAT returns) are now online-only, so choose your tools wisely.
If information and money flow easily, reports are accurate, and there’s no double-handling, your systems are doing their job. Delays or missing data mean it’s time for a review.
Yes, but, used properly, efficiency gains should outweigh costs. The real trick is only to use technology that’s useful. Technology is the servant not the master.
Always! Technology is only as good as the data it processes. Accurate bookkeeping ensures reliable reporting and supports better decision-making.
We don’t believe in forms, we believe in talking to people, finding out your needs and tailor-making a solution just for you.
Give us a ring on 020 7125 0270 or email us at info@bluedotconsulting.co.uk
Specifically South West London, including:
“I’ve been delighted with both the service and expert advice I’ve received from Michael and his team. They take the weight off my shoulders when it comes to my business’s financial requirements, allowing me to focus on building and managing the company.”
“Blue Dot Consulting went above and beyond in helping us navigate not only the transition to cloud-based accounting but also in leading our accounts team through a broader period of transformation.
Their deep understanding of our unique needs and challenges was evident from the outset. They provided unwavering support to our team, ensuring they felt confident and well-prepared for the changes ahead.”
“We are a small organisation with no in-house financial expertise, so it’s a huge weight off my mind knowing that I can rely on Michael and his team to take care of everything.”
