All businesses want to be paid fairly and on time for the work, goods and services they provide. You wouldn’t expect to do your grocery shopping and then pay for it 3 months later, so why should it be any different when you receive a supplier invoice? According to a report by Bacs Direct Credit, […]
You’ll never hear anyone say that they are looking forward to an audit – in fact, according to a survey by Wakefield Research, 37% of accounting professionals said a sales tax audit would be more stressful than a divorce. An audit is an inspection of an organisation’s financial reports, systems and processes to ensure the […]
What is Business Process Outsourcing (BPO)? A simple explanation for BPO services could be ‘The transfer of core and non-core business processes to an outside provider’.
Updated July 2020. Each year billions of pounds are used unknowingly within businesses by employees desperately trying to manage unstructured documents and processes. Generally this is all done in the in the name of “my job” or “what I do” and ignored as a cost to business by senior management. It is often stated that […]
From the point your accounts department receives an invoice, to the point that it is paid, how many different processes does it go through? How many different members of staff handle each invoice? Some accounts departments have created a process for approving and paying invoices, with a minimum of 12 steps and 3 touch points, [...]
Business leaders are always looking for new ways to promote, focus and drive their businesses. But did you know that administration processes can account for significant additional profit (or loss) within your business? The cost of improving your processes could provide the 10% growth your business is looking for next year. Being more efficient drives […]
Ask a range of people working within any business the challenges they face and you are likely to receive a multitude of responses. The most complex industries operating within the UK are creating huge obstacles for smaller business owners and managers trying to succeed, with their complex processes and compliance requirements. Fear of falling foul […]
Ask a range of people working within any business the challenges they face and you are likely to receive a multitude of responses. Any finance department handling volumes of purchase invoices knows the value of high speed accurate processing. With so many transactions still paper based or even electronic via pdfs this remains a time […]