Cost-effective custom-built solutions to save you time
Smaller businesses often have a tough time justifying the expense of having a custom-built system developed, even though it need not cost the earth and the returns may come from saved time rather than money initially.
But have you considered the cost of your time, the lost opportunities because you're battling with information? Are you having to transfer information from system to system, potentially introducing errors?
There are plenty of free or low subscription systems available online which can help you. But they are often not integrated in a way that works for you.
For example there are expense management apps that work well for the person incurring expenses – simply take a photo of the expense receipts, click a button and a statement is produced. But the person processing the expenses into the accounts system still needs to extract the VAT and perhaps reconcile to one or more card or bank statements. There are also some expenses that don't have a valid receipt or the amount paid is not the true value of the receipt, such as the inclusion of a tip.
At least the data has been captured electronically. Would it be helpful and save time if a system could assist in reconciling the data and generate the required journal?
How about taking data from online sales systems or supply and delivery data and matching it up with your figures? Or creating a system that automatically reminds people about their appointments, so that they are less likely to miss them? How much could that save you?
Before deciding if it is definitely the way to go, you need to determine what such a system is worth to you. Some things to think about include:
• What is the value of opportunities you miss and why do you miss them?
• What types of mistakes are made and how much do you think it costs you to rectify them?
• How much work is duplicated (e.g. needing to copy/paste or write out again, perhaps into another application)
• How much extra business might you get if you can provide a better/faster service?
• How much do you lose through clients missing appointments?
• How much time do you spend having to do paperwork at nights/weekends?
Perhaps you are using Excel and it is becoming difficult to maintain or you require multiple users to be able to make changes at the same time? If so, it is time to migrate to a database solution.
Talk to us to find out how we can solve your problems and we'll take it from there.