By Saeward Schillaci, The Resource Group
1. Consider the Cloud
Forty-eight years ago, a Canadian technologist named Douglas Parkhill published a book called The Challenge of the Computer Utility, in which he explored the fundamental concepts behind what is now called cloud computing. Parkhill predicted that by the end of the twentieth century, this concept would be fully in effect, and would cause a fundamental shift in our society. Almost half a century later, the cloud is still in the early stages of revolutionizing modern business operations. Don’t wait another 50 years – or even another 50 days – to begin exploring how cloud computing can better your business! By utilizing cloud computing, your business can reduce IT costs, improve flexibility of access for busy users, and improve the reliability of data storage.
As a part of this growing tech trend, the Resource Group has begun offering a cloud-based accounting solution called Intacct. Intacct has all the features of a classic accounting solution, with the additional offered by the cloud. These unique advantages include an easy and cost-effective implementation, automatic synchronization between ledgers, and built-in financial intelligence to reduce the need for manual processes. Cloud-computing is finally rising to the heights Douglas Parkhill predicted – so join the trend and let it elevate your business.
2. Perform an Operational Review
Remember the old saying “a stitch in time saves nine?” When it was first used, this was undoubtedly referring to the need to repair small rips in clothing before they became bigger problems. More recently, it has been proposed that this could also refer to tears in the space-time continuum, which would theoretically need to repair themselves before such a rip caused the collapse of the universe. Luckily, putting off an operational review of your business will not result in either torn-up clothing or the full-blown collapse of the universe. On the other hand, an effective operational review, sometimes termed as business process review, can help uncover your business’s weaknesses, strengths, and areas for improvement over the next year. While it might not seem like you have time for an external review of your business processes, the potential for increased productivity far outweighs the original, meager investment in time and money. By reducing the amount of time spent on manual or inefficient processes, you can improve business potential – not to mention the pay-off of having happier, less stressed employees!
Operational reviews are one of the many professional services that The Resource Group provides for Microsoft Dynamics GP users. The suggestions for improvements based on these reviews range from simple suggestions such as setting default checkbook ID’s for data entry to implementing a new module for your unique business needs. Regardless of the size of the project, it will soon pay off in immense productivity gains. This year, don’t wait for small inefficiencies to become bigger problems. Conduct an operational review, find the holes in your business processes, and let The Resource Group help you mend them.
3. Measure Yourself on a Regular Basis
There is a lot more to operating your business than obvious numbers such as revenue or number of customers. As you’ve probably heard many times, if you don’t measure it, you cannot improve it. Use Business Intelligence (BI) tools to gather and analyze data to make better business decisions. BI applications can be used for analysis, reporting and forecasting. Once you have defined goals for your organization, use quantifiable measurements, such as Key Performance Indicators (KPIs), to measure progress toward these goals. KPIs should reflect your organizational goals, and are key to your company’s success.
This will allow you to notice the small differences made by small changes. This attention to detail and internal processes will allow your business to create long-term, sustainable goals and detailed action plans.