When we started this company, like all other business owners, our main goal was to grow our business; the sky is the limit after all. Along the way we realised that bookkeeping was relegated to being a mundane task that one did when he had the time. Often it was a catch up that became a priority when it was time to calculate taxes. For small business owners growing the business took precedence and the owner often didn’t stop to hear what the numbers were
telling him- were his payments coming on time, did some account heads guzzle more than required, what was his customer demographics, what is the cost of acquiring and servicing a client, did the pricing consider the cost of overheads and inflation etc. All of these are important questions to navigate the business for which bookkeeping held the answers.
The world of bookkeeping, like every other service, is undergoing a sea change in the way its being done in the Internet era. If outsourcing was driven by its cost advantage, cloud computing is now leading the charge. Yes, everything’s gotten cheaper and initial investments are no longer capital intensive.
It’s all about getting the right service for your business-something that can show you how your business is faring every day against the backdrop of the past and the pattern of trending. Business data at your fingertips for better informed decisions; it’s no longer about just the books. It’s technology that makes bookkeeping work for you. Customising reports, apps that can help you work on the go, business performance data you can receive at preset intervals and more. It’s no longer the prerogative of the large corporations, even a small business can have these perks at much lesser costs than keeping your books the traditional way. It needs someone who understands bookkeeping and technology with the experience of having run businesses. It needs an expert pretty much like a tax specialist who knows the tax rules, how it applies to the company and what’s best for it or a doctor who recognizes the symptoms, knows pharmacology and based in the history of the patient knows what will work. With technology it’s not just plain old book keeping; it’s getting the right advice on technology and setting up the books to show you how your business is faring real time. A bookkeeping specialist not just for books but in technology and running businesses- an expert.
Like everything that undergoing a change there are a lot of questions that arises out of the lack of familiarity. Is the information secure on the cloud? How is an online service better? How can I get key data like cash flow, profitability etc without trawling through data? How do I get my bookkeeper to become my business advisor while saving on his salary? A lot of questions that begs answers. Some thought a blog would be a good idea to voice and share concern, find reassurance in the experience of others and to cope with challenges in transforming bookkeeping from a passive function to active advisory services. How did other business make this radical changes? How did other owners go from struggling to keep their books to read data off it while saving costs and making more time for themselves. After all there is nothing like real life experiences. This is the place to share, seek and find the strength to make the change; after all, change is the only constant.