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Major productivity boost: Upgrade your Accounting Software

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Cleaning up your workplace, organizing your tools, putting together lists of maintenance and improvement projects always precedes periods of intense application. Entrepreneurs seek continuously to eradicate productivity drains and make meaningful investments into doing what they do easier and better for clients and staff … One of the most critical projects they can undertake however is almost always done at year end … As we advance through October, the time is upon us to evaluate whether one should finally take that critical step to change the way we capture information, whether to adopt a smarter, simpler less administrative tool (accounting or Enterprise Resource Planning system) to capture and organize information. If you are to make this jump to higher productivity, you need to start working on it now in the remaining 3 months to the start of the new year …

The reason for this is probably because most entrepreneurs prepare to implement new information systems the way most people prepare for extraction of a tooth: positive anticipation that the pain we are experiencing will soon end, but subconscious procrastination, it is known that the process to extract the problems itself heralds an intensified level of administrative investment. And entrepreneurs hate administration – they prefer to get out and build and sell. Perhaps one would feel better if he realized that when it comes to information systems, there is a valuable choice: you can choose an administratively backward-looking and hierarchical accounting system, or we can choose a forward-looking, Enterprise Resource Planning (ERP) System that concentrates actionable data in the hands of all our employees. Forget accounting systems like Pohoda, Helios, and others … we definitely mean to exploit ERP technology.

Some of the international companies in the Czech Republic have already made step forward and utilized a version of the online hosted multilingual, multi-operational system ERP system known as FlexiBee customized by the entrepreneurial accounting firm cfo2go. Their [The ] philosophy simply stated is to create an ergonomically-comfortable platform for the online generation and dissemination of all workproduct, using procedures to generate current accounting results on a 24 hour cycle. Imagine that: you can have access to all the data in your company knowing that it is current to plus/minus 24 hours! This is a level of performance that previously could only be obtainable by large, well-financed corporations and entailed long installation timelines. Not true anymore.

The reason the system can be so current is directly due to a structure for capture of information. Cfo2go sets up the system so that salespeople enter their orders and invoices directly into the system; Warehouse records withdrawals, issues processing reclamations. Logistics processing deliver notes in and out, logging requisitions directly in the system for later batch orders Marketing usually works in a specialized CRM module, but the data is transferred into the SW automatically. The system issues all standard documentation, all accounting transactions are recorded immediately in the system. Bank statements and bank wire transfers are uploaded or processed semi-automatically. CRM and eShop and registered cash desks – automatically or semi-automatically linked. Data can be extracted using the API interface to display up-to-the-second information on any process or department for CEO, Sales, Finance … and cfo2go continuously checks, corrects the transactions, introduces new shortcuts or coding to make the system self-regulating and more productive every month.

The customized software and operational/business-focused approach to getting the accounts done is a budget winner for especially small entrepreneurial firms of 5-25 employees and turnover to 20m or local subsidiaries of US or UK-traded multinationals. Interaction between cfo2go and personnel responsible for overall management at the client is frequent and informal, either the local director, asejior admin or often, the their corporate finance department in London or New York. For the latter, who are usually traded on the stock exchanges, the standard is almost always a 24-hour current entry cycle and a 5 day monthly close. Their employees access the system though Windows, Apple or Linux operating systems on pcs, or through their iPhone and Android smartphones.

Implementation? Can be accomplished in a relatively short time of less than two weeks in most cases. The cost is not as high as you think.

There are only about 2-1/2 months left to take a step you have been thinking about for some time. To take the one step you know has the potential to save your people time, generate the information you need and help your business achieve greater profits and greater communication. Click here to learn more about cfo2go’s business-focused accounting services.

CFO2GO entrepreneurial advisory
IC: 27147029 | DIC: CZ27147029
Buzulucka 570/8, 16000 Praha 6, Czech Republic
Tel: +420 223 017 288

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