Can My Business Manage Without An Accountant?

I can’t remember the last time I heard someone talk about how amazing an accountant can be. I mean, why not? After all with years of experience behind them an accountant can help to effortlessly manage the finances of a business, finances which in return can help cement a business’ continued success and growth.From bookkeeping to payroll and general money management, an accountant can help achieve and maintain financial stability yet despite this I still hear many businesses ask; “can my business survive without an accountant?”Despite the obvious temptation I have to scream no over and over again, perhaps a practical look at just what an accountant can do might be the best place to begin. Below are a few general insights into just what benefits are attached with accountancy services…

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Time Saving- The financial side of your business includes everything from VAT to Tax as well as bookkeeping and payroll which require tremendous time and effort. All legalities must be complied with, every single detail of your business expenditure must be recorded accurately and all tax and vat returns must be sent to HMRC on time. Can you do all of this and still successfully run your business?

Saving Money- One of the benefits of compiling a tax return, vat return and accurately completing your bookkeeping records is that it is possible to make savings. A good accountant will not only be able to monitor how you can make savings on your regular business out-goings but also on how to save on your vat and even pay less tax. With the right accountant your business could quite easily be saving a great deal of money.

Advice- Many people consider accountants as just the guys who do the taxes but with years of experience in finance, helping businesses of all industries and all sizes make savings and pay as little tax as possible; an accountant can become a thoroughly valuable and trusted advisor for your business. Having an expert regularly monitor where every penny is going, whether your out-goings exceed in-comings, ensuring your business complies with financial legalities and judging where and how business savings can be made; a good accountant can be a key player in the success of your business.

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There is no doubt that, when starting of your business you can easily undertake the management of your finances. However as your business begins to grow, your finances increase and your time gets stretched; do you think you could easily manage to maintain a successful financial profile and run your business smoothly?Being in business requires effort, dedication and a great deal of time but don’t forget that you aren’t superhuman which means you won’t be able to do everything. Invest in a good accountant for peace of mind and allow yourself to concentrate on managing the bigger picture.

Accounting Business Management Software – What Are My Options?

When it comes to choosing the best accounting business management software for your business, the good news is that in Lahore, you’ve got a number of options. So how do you decide which one will work best for you? The answer really depends upon your business needs.There are two main types of accounting or business management software’s available to you: locally developed or mature ERP packaged software. While the locally developed options may offer more customizable features, it’s often more risky to both purchase and obtain ongoing support as the developer:
May possible not have the skills and experience to develop business management software which your business depends upon for its survival.
May be a small software house, (less than 20 people) and may close operations at any time.
May be able to actually deliver business management software, but does not have the depth of IT project management experience or skills to actually implement it in your organization.
Mature ERP packaged software generally offer the least risky option for business critical functions like operations, supply chain management and finance because:

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You’re buying a product that is already proven to help thousands of organizations around the world to survive and thrive. 
Your buying a product from some of the largest software houses in the world, (Microsoft, SAP Ag, Oracle)
Local Partners of Mature ERP packaged software focus upon your business processes and training of your employees to use the software.
To help you choose the best accounting / business management software for your business, here are a few specific things you need to consider while you’re doing your research:The size of your business. A business that generates Rs50, 000 in sales each day has very different needs than a multimillion-rupee business. If you’re a larger firm, don’t under buy when it comes to software because you’ll only get something that will leave you short from fulfilling your needs.The industry you’re in. What industry is your business in? Some industries have specialized software you may want to consider purchasing since it’s been designed with your specific needs in mind. Most of the time, industry specific software will be more expensive, but the benefits may outweigh the costs so be sure to do your research before buying anything.The functionality you need. What functionality do you want within the software? Locally developed software is very basic, having just simple accounting and basic inventory features; Mature ERP packaged software’s are fully integrated and can include such modules as Budgeting, Purchase Order Processing, Sales Order Processing, HR and Payroll, Manufacturing, Project Accounting and so on.Available support. Purchasing the software is only the first step in the process. It’s important that you have available support, which may include local consultants, internet support, phone support, training options and more.Ease of use. When it comes to choosing software, this aspect is often overlooked, but it’s one that’s extremely important to take into account. No matter how inexpensive, if it’s too cumbersome or hard to learn, you and your employees will not use it. Keep it simple, stay focused on your business’s needs, and look for those programs that have easy interfaces and offer possible upgrades as your business expands.

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Ease of implementation of the new system. Developing software is a vastly different field from having the knowledge and IT project management experience to actually implement the software in an organization. As local developing software house tends to have core competencies in developing and not in IT Project Management it may not have gained sufficient experience in the fieldThese six aspects should play a critical part in your research and purchase of an accounting / business management software for your business. Remember, it’s important that you find the right tool to assist you in the management of your business, and cost should not be the only critical factor you take into account. It’s more important to find the right fit based upon need of the business and ease of use.My last piece of advice: It’s easy to get frustrated with any new software package, so be diligent about the implementation of it and know that there’ll be a learning curve. The benefit will be that you’ll have an organized accounting / business management system that can provide quality financial and operational data for you to utilize as you grow your business.

Securing Your CRM, Accounting and Business Management Systems

One of the biggest challenges organizations now face is adequately securing the data held in their CRM, Accounting and Business management systems. And securing these means protecting the software, hardware and networks they run on.There are a number of ways an organization can be attacked; traditionally the main methods of sabotage were viruses and emails. These methods of attack are still prevalent and they have increased in terms of technicality. Viruses for example can now spread worldwide within a number of hours and can have devastating effects on a business’s profitability.The threat posed from emails has also changed significantly. For most individuals, receiving Spam is now part of the daily routine. However, aside from unsolicited emails being annoying, spam can be offensive, fraudulent and dangerous. In addition, it also takes up valuable space on an organizations server which can prevent business critical information getting through.Most organizations are aware of the risks which are posed by external sources and have processes in place to protect against them. Internal threats on the other hand are often not adequately protected against. This may be because organizations are either not aware of them, or do not know how to secure their systems against them.

Internal threats are a result of the developments in portable storage and personal devices such as iPods, USB drives and mobile phones. These devices have made it easier than ever for an employee to copy large amounts data from your CRM or Accounting system and either take it with them when they leave a company or sell it to competitors. It doesn’t have to be deliberate either – data can be lost or mislaid by accident so have the potential to fall into the wrong hands. There are some high profile news stories about this, including cases of confidential information being lost or stolen, such as this BBC news item.Losing data, either deliberately or accidentally, is called Data Leakage. It is something which has the potential to have a substantial negative impact on organizations profitability and needs to be prevented. According to recent research, 59% of people who have lost their job recently have admitted to taking data with them when they left.With so many varying types of threats facing organizations and so many different products to protect against them, it can become difficult to understand what you are protected against and which product best suits your organizations requirements. Often organizations think they have all the protection they need, but in actual fact they are only protected against one type of threat leaving them wide open to attack. What certainly has become evident is that all organizations need to have processes in place to protect against every type of threat.So what do you need to protect your CRM, Accounts or Business Management system? There are a variety of different security products available, including:Full security, anti-virus and firewalls
Anti-Virus software will typically protect your organization from viruses, Trojans, spyware and adware. Anti-Virus software is often easy to use and quick to set up.Anti-spam
Anti-Spam software is designed to reduce the number of unsolicited emails which an organisation receives. Typically anti-spam software will feature not one, but two anti-spam engines to give administrators a high capture rate.Back-up, system continuity and maintenance solutions
Back-up solutions provide organizations with a method of automatically archiving emails. This therefore frees up space on a business’s server to allow business critical information through. Back-up systems usually have a search tool where employees can search for a specific document.

Data Leakage protection
This provides administrators with a way to actively manage user access and allow them to log the activity of all portable storage devices.Your organizations CRM and Accounting systems are an invaluable source of data and they contain all the information which potential attackers need to have devastating effects on profitability. Subsequently comprehensive protection is vital. You need to secure your systems from both internal, as well as external threats – taking a holistic approach and using a variety of different techniques and products available. Once in place, keep your security up to date all the time – it’s important that whoever implements you security will provide on-going maintenance and support.  If in any doubt, contact a security specialist to assess which security product, or combination of products, are right for your organization.

Finding CRM and Other Business Management Technologies Online

Research says that majority of internet users are actually looking for products and services; those active in social networking sites, video sharing platforms, and free libraries only account for around half of the total Web population. If you’re looking for efficient business management technologies for your company, doing so online is highly recommended. As a one-stop information hub, the Internet serves as a reliable source of news, data, and information that consumers can use for different purposes. Here are some features of business management websites that you can refer to.Services and SupportWhen looking for information technology products and services, you can browse an IT company’s website and look for support solutions that apply to your business’s specific industry. You can look at contact relationship management (CRM) solutions, accounting and business management platforms, and network engineering services that address different issues and needs in your company. You can read on each service’s facts and features and thus choose one that suits your business management problems.

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ProductsSince technological products also come from years of hard work, planning, and effort, these solutions also come at a certain price if you want to use them. Through a website that offers advanced software products, you can access information on CRM solutions, accounting software, and technological innovations you can use in your own company. Simply click on a particular product’s icon or link and you can read the features it offers.News and InformationAside from innovative computer networking support, you can also access industry news and articles in a professional technological consultant’s website. You can read through these newsletters and archives and learn the latest in the technological market. You can also check the features and improvements about a new software and how such features address emerging challenges in your business.Training and EventsFor clients’ convenience, online technological consultants provide CRM training information through their websites. They post training class schedules and calendars online to allow you to effectively manage your time and efficiently learn from the classes. You can have the webinars delivered to your own desktop or attend a training class in the provider’s office if you want.

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Register OnlineIf you want to enroll in different CRM online training classes, you can register on the website and enjoy comfort and convenience. Simply provide information about your company, preferred classes, and payment options and the website administrators will contact you within a few days for confirmation. You can also download a registration form from the website and fax the document if it’s more convenient.