Accountants – what technology do you really need?
As businesses move their finances over to self contained, self service applications in the cloud some of the information they need to run the business will definitely improve. Fundamental questions such as ‘how much have we spent this month?’ can be answered in an instant. But to improve a business, the right questions need toRead More
Accountants – what’s your perfect training course?
Let’s say you have a small manufacturing business. Demand is good and you are working flat out to keep up. You also want to grow. But the cost of hiring an Apprentice who will take 3 years to train seems to be prohibitive. What do you do? Or, you run a logistics business. You knowRead More
The robots are coming. That’s good isn’t it?
Much has been said about the arrival of automation and its impact upon Accountants. The consistent theme is less time needed for routine tasks and more time available for ‘value adding’ analysis. For Finance Professionals in larger organisations this will be an opportunity to get teeth stuck into the data within the business and provideRead More
Tips for an accurate financial forecast
Many businesses are preparing to enter a new financial year. As they do it is worth thinking about the importance of the financial forecast. It’s primary role is to predict whether the business will have enough cash to keep going during the year to come. And, as such, it is a vital source of informationRead More
Start by reminding yourself just how good you are
This is the second in a series of blogs about the dynamic future that lies ahead for Accountants. One that, in the face of technical change, involves becoming increasingly competitive as an Accountant and performing a role that is central to the plans for growth within the businesses that you serve. —— The backdrop ThisRead More
Why we need the ‘Business Advisor of the future’
Why businesses big and small need their Accountants to become the ‘Business Advisors of the future’. This is the first of a regular series of blogs about the Accountant, who also serves as a Business Advisor to their clients. It looks at why businesses, who have access to unprecedented amounts of data, need a BusinessRead More
Giving Mrs Miggins a fighting chance
Thanks to research performed by Duedil (https://www.duedil.com) we learned this week that there were 5.5% fewer business startups in the UK in 2017 compared with 2016. This may not sound like too much of a drop however it signals the end of a steady rise in startups that began with the financial crash in 2008. TheRead More
Smaller businesses can make great use of data as well
When we read about using data in business, whether it’s to find better ways of working, or to locate the next customer, it generally refers to the bigger businesses. But every business has data that it can use. And smaller businesses in particular can gain great advantage by making smart use of their data. ThisRead More
The predicted demise of the Accountant may be premature
In their report ‘Where machines could replace humans—and where they can’t (yet)’ the consulting firm McKinsey & Company looked at the extent to which human activity in the workplace could be replaced by automation. The somewhat sobering results are shown below. E.g. anyone involved in Data Collection and Data Processing can expect to lose twoRead More
Using data to make better business decisions
One of the key factors determining how quickly a business grows is the ability to make critical decisions e.g whether to invest, purchase another business, reduce staff numbers. They rank amongst the hardest things that Business owners and management teams will do. The consequences might be significant, there could be severe time pressure, and thereRead More