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Tough times call for efficiency and reliability!

21
October
2021

What a crazy last eighteen months we’ve had with the Covid-19 outbreak.  Who could have predicted it?  Well Bill Gates for one, back in 2015, check out his Ted Talk from back then.  He states how unprepared the world is for such a thing, and how right he was.

When running a small to medium business, times like these can be very tough. New business is hard to come by and keeping your existing customers or clients can also be challenging.  Sometimes we just have no control over these things, so we have to focus on what we do have control over, and one of those things is our costs and how efficient we are in doing what we do.  

Over the last few years bookkeeping has become more and more efficiency driven. There are many tools available to be able to do the job efficiently and reliably, so this is one area you could look at to improve.  Obviously in tough times there is a larger spotlight on your finances, so accuracy and being able to rely on your numbers is a huge consideration.  

You hear a lot in the media about how inefficient we are in NZ as a whole, and we certainly see this within the bookkeeping/accounts/finance (call it what you will) functions and I wanted to share some of our insights.    

About two thirds of our new business comes when a client decides to outsource their bookkeeping to someone like ourselves when they have previously done this in-house and on-site.  Covid has certainly shown that this function can be done remotely, but not only that, it also creates efficiency, sometimes in a big way.  For example, one of our client’s in-house bookkeepers was doing 32 hours per week and we reduced this to just 5 to 6 hours per week!  This is obviously an extreme example but it is not an uncommon scenario. Just because things have been done the same way for the last 3, 5 or 10 years certainly doesn’t mean they should continue being done that way.  

Artificial intelligence and machine learning are impacting on the bookkeeping functions and we need to embrace that to keep up to date. 


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Quisque lectus sem, tempus in ligula in, vehicula fringilla nisi. Vivamus sit amet sapien ac felis porta hendrerit quis nec risus. In lacus orci, maximus eu tincidunt eu, porttitor et odio. Cras eleifend vel nulla id cursus.

John Smith
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Company Name

Quisque lectus sem, tempus in ligula in, vehicula fringilla nisi. Vivamus sit amet sapien ac felis porta hendrerit quis nec risus. In lacus orci, maximus eu tincidunt eu, porttitor et odio. Cras eleifend vel nulla id cursus.

John Smith
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Another Company