The Modern Business

Two weeks ago Xero released an update on the Best of Breed Online solutions for The Modern Practice. It was a great opportunity for me to brainstorm what I wanted in technology programs to help Growthwise run as efficiently as possible & still deliver the added extra's to clients. I followed up with a response which was posted on the Linkedin Group - The Modern Practice as well as Twitter and Facebook. It was great to get feedback from other accountants and the software providers themselves on what the future of Accounting Businesses could look like. You can read the blog here.

But that got me often to you sit back and brainstorm what the Modern equivalent of your business could look like? Are there software providers specialising in your Industry? Do you know where they are taking their businesses? Do you know all of the products they currently have available?

Could you possibly reduce your IT Hardware costs if you did not need the expensive servers and software? What would your business look like if you had access to Low Fees, Real-Time Integration, Automatic Updates, Automatic Backups and you could access your Business Information Online Anywhere Anytime?

What software solutions does your business use now? Do you have a Database Management System? Does this deal with your Customers, Suppliers, Potential Customers & Business Referrers? Or do you have separate programs for each? Do you even have a Database Management System? Does this integrate into your Accounting Package so you can produce reports based on money outstanding, time to collect debts, average yearly spend etc. If you had a system like this what would it mean to your business? Does your database tell a story about your client?

Do you have a workflow or Project Management system? Is this integrated into the rest of your business such as time billing systems, debtor systems etc? What improvements could be made in your business if you had a centralised Workflow System that helped control the work in your business and allowed you to deliver on time to your customers? Does your workflow system allow you to look at your Businesses Key Performance Indicators? How long it takes you to complete an average job etc?

Does your business Compliance Systems integrate? Do you need to have certain things to comply with Industry Standards? How are these documented and managed? How does your business deal with documents? With Notes? Do you have paper files all over the office & spend time trying to find old files? Or is everything integrated into one System?

Do you have an inventory management system that allows for streamlined ordering of new products? Does this system give you information per product? Are you able to analyse your best selling product by price, by volume and by margin?

What else is on your wishlist to help streamline your business?

With the change and pace of technology a lot of these solutions can be delivered and integrated. But you need to be clear on just what you want your Modern Business to look like. Then you need to understand some of the exciting products that are already in the market place. If you need some help with the brainstorming or just understanding what technology is already available give me a call & I can help you with a Tech Review. And keep your eyes peeled for an exciting event showcasing In the Cloud Business Tools from The Lunaticks Society in November.

What does your Modern Business look like?