Practical tips on how almost any sole trader, small business or limited company can accelerate their cash flow…

Cash is ‘King’ because it pays for all the things that make your business run! Expenses like stock or raw materials, wages, rent and other operating expenses are all paid for by the cash coming into your business and so it follows that you want to maximise the flow of cash into your business. Below are a few practical ideas on how almost any sole trader, small business or Limited Company can accelerate their cash flow…
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Tis the season of change!

We are approaching a season of change…The evenings are getting darker, supermarket shelves are clearing of kids’ black trousers and filling up with tubs of Heroes and Quality Street!
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The seasons change with the inevitable and relentless march of time, but when it comes to making changes in our business it’s easy to put them off to a later date because we don’t think of them as ‘business critical’ today!

Our business software is a key example. We know that if we change our software we could improve our productivity and create time through efficiency gains – yet we postpone doing anything about it by kidding ourselves we don’t have enough time! Over the years business accounting software has changed massively and with so many new software solutions being introduced into the market, and so much functionality now available, how do we even know what software our business really needs and if we are missing out?

So where do you start?
At o-a-sys we recommend taking the time to evaluate your exiting business process fully. Your business may well have changed significantly over the years and by creating a list of requirements that your new software solution must have and a list of nice to have’s, it’s a great way to create a potential shortlist of software providers with whom to meet and request a demo!
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Creating a nice to have list helps you find functionality that you may not be aware is available and how to search for it. By providing check lists to companies, they can save you time by saying yes or no to functionality you require before scheduling a demo.

Demos can then be based on your requirements so you get a feel for how the software will fit into your business rather than your business fitting in with the software. Don’t forget to ask questions about the implementation process. Find out if the system can be phased into the business so that departments can get use to the switch over. Find out how and when your employees will be trained to use the software and the support options available once the system is in place.
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The decision can then be based on the number of requirements fulfilled, how user friendly the system is and the relationship developed with the provider.

Changing software is a long-term commitment for any business so you need to be comfortable phoning for support and knowing you will receive high standards.

If you are thinking of changing your software then give the o-a-sys team a call on 01233 812050 and we can discuss your list of requirements and see if we have a solution that is right for your business not just your industry!

THE PRODUCTIVITY MYTH BUSTER

We hear so much about improving our productivity and managing our time better, but do you, as a Business Owner or Manager really understand what productivity is?

In the “olden days” back in the 20th Century, productivity was still a true measure of the value we reaped from our financial investments into the company. Payroll and Salary are normally the greatest cost to the business and yet as a nation we fail miserably to monitor the value our employees are PRODUCING for our money.

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