Inaccurate, out-of-date financial information can wreak havoc with short and long-term business planning. Thankfully, cloud systems have changed things for the better.
Previously, small business owners had very little opportunity to truly gauge the performance of their business at any given moment.
Their day-to-day numbers weren’t always accurate, and when they could finally get their hands on correct figures – once a month or once a quarter – they were well out-of-date and not at all applicable to their current situation.
Now, however, things are different.
Thanks to the upsurge in cloud accounting platforms, small businesses are merely a tap or a click away from accessing accurate, up-to-the-minute financial information. And the benefits of this are significant.
Real-time, for real
Being able to view real-time business data has changed the game for many entrepreneurs. And with real-time access, accuracy is now a reality.
From tax planning and forecasting to analysis and goal setting, you’ll no longer be (entirely) reliant on your gut; you’ll have more control and the opportunity to make better, more informed decisions.
But it’s not just about the chance to be proactive with this information. You’ll also be able to react quickly too.
Perhaps, in the past, when a new business opportunity came across your desk you were hesitant to pull the trigger. If that sounds familiar, chances are there were a number of factors at play, not knowing how your decision would impact the bottom line being chief among them.
Plan better, faster
Thanks to cloud accounting, you’ll be able to weigh up the pros and cons of any business opportunity by delving into your figures and estimating the impact of your decision. Once armed with that information, you can then start planning with confidence.
For instance, would opening a new location put your business at risk in the short-term? Then proactively seek funding to bridge that potential gap in your cash flow.
Or would stocking a new product or offering a new service result in a cash surplus towards the end of the tax year? Engage the help of your accountant early to plan for and minimise tax liabilities.
Only by taking full advantage of this new and better information will you can get a leg up on your competitors who are still lagging behind, relying on out-dated and inaccurate data.
Look forward, not backwards
It’s one thing having access to this financial information at the drop of a hat; it’s another entirely to know what to do with it.
In order to make the most out of cloud accounting data, you’ll occasionally need some expert guidance.
That’s where a trusted professional advisor like Polay+Clark comes into their own. We’re interested in helping you make the right decisions based on the information at hand. We want you to be able to look forward, not backwards, guiding your business with confidence and courage.
We believe an accountant is more than just an accountant. And the relationship should be more than just seeing or speaking with one another once a year.
Beyond reviewing and preparing financial documentation for tax purposes, an accountant should be a business advisor working with you, not for you. They should help you identify the opportunities hidden within your finances, and advise on the best course of action.
After all, you’ll typically spend money with companies whose actions resonate with your values. Companies thrive by doing the right thing, and making products or providing services that customers love, instead of trying to convince customers to love their things.
Our approach to accountancy and professional advice is the exact same. We’d rather you see the value in our service, rather than view our service as a commodity. In other words…
We’ll open your eyes to new opportunities
Here at Polay+Clark, our team of experts are entirely focused on helping you manage each and every aspect of running your small business.
The foundation this approach is built upon our understanding of – and belief in – the power of the cloud. We use a wide range of different cloud products to support your business – you can read more about our cloud ecosystem here.
You won’t just see us when tax season rolls around: We want to be your valued and trusted partner, helping you drive your business forward year round. And we’ll start by switching your business management to the cloud, providing you with instant access to real-time business data.
Are you ready to make that move?
Get in touch today and let us show you the benefits of cloud accounting and an accountant who cares.