Post on 14-Aug-2015
Comerford Foley – About Us
Over 30 years experience in helping SMEs to grow and add profit to their bottom line!
We take the stress and worry out of the books!
Existing Accountancy Model……
Mr Murphy……your accounts are finished. You owe the tax man €200,000!!!!!
Our Invoice is in the post!
Live Information
• Profitable or not?• No surprises• Monitor KPI’s• Focus on profitable areas• Debtors recoverability• Good for Cashflow
Good Business Decisions
• Solid data• True margins and profits• Minimise inefficiencies• Innovation…..fail fast!• Production costs• Overhead costs
Plan for the future
• Return on investment• Cashflow and financing• Retirement• Succession• Tax considerations• Planning for exit or sale
The Options
• Cloud Accounting– Xero– Sage One– Kashflow– Quickbooks
• Existing Software– Excel – an under utilised resource!
The Options
• Other Solutions– Desktop solution, excel based etc.– EPOS – Key for retail! – Non financial – CRM, Sweet Process etc. All can
add to the efficiency of the business
• The message– It doesn’t have to have bells & whistles.
What can technology do? (some examples)
• Automatic upload of bank statements• Take a photo of receipts – ends up in your
accounts!• Debtors collection or invoicing from your phone• Check your accounting position anywhere anytime• Integrate your EPOS with your accounting system
– gives details of sales by product, by day by time etc.
Why Cloud?
• Time saving• Reduced upfront costs• Access anytime, anywhere• No upgrades or maintenance• Develop relationship with your adviser• Cashflow – Invoicing, debtors collection• Reporting – data analysis• KPI’s – week on week, allows easy drill into the
numbers, detailed analysis of the business performance
How?
- Review your existing financial reporting structure
- Ensure you have a process to review the business performance on a weekly basis
How?
- If you don’t have a system you are probably throwing away money by not monitoring performance (even if profitable!)
- Develop the KPI’s relevant to your business regardless of the size of your business
- Don’t panic – doesn’t have to be expensive, doesn’t have to be complicated and we will help