The pace of business continues to speed up in the age of the connected economy. Businesses are constantly challenged to come up with more efficient and productive ways of operating to stay competitive and profitable.
One area that can help you make better decisions is in accounting. However, this can be one critical area that business owners are often reluctant to touch. With today’s technology, it can offer the best ROI in terms of reducing transaction costs and helping you get better information to make better decisions (Accenture, Deloitte also confirm this).
Here is how to determine if your accounting has room for improvement:
- Is the total cost of your transactional accounting function less than 2.5% of revenues?
- Do you have a completed set of financials and variance analysis completed by the second work day every month?
- Do you have key accounts (banks, credit cards, vendor and customer accounts) reconciled by the fifth work day?
- Can you get real-time reports of how much you are spending by vendor and services compared to expectations/budgets?
- Do you have real-time cash reporting and a rolling 16 weeks forecast of cash and revenue?
- Do you have real-time reports on your inventory turns and sell through by product?
If you have answered NO to even one of these questions then you need to look at improving your accounting practices. Logicon Solutions has helped business owners transform their finance and accounting teams into a cash flow generating, business building, decision support powerhouse. Exciting? Yes!
We can show you how improving your accounting will consistently help you make better decisions for your company.
Schedule a free Strategy Session with Gerry Anderson, President of Logicon Solutions to review the options available to improve your accounting processes and Increase your Profitability!
You provide a quick review of your challenges and we provide you with information on how you can overcome these challenges based on proven systems that work. We will look at how you can implement the fixes and your next steps to immediately improve your cash flow and reduce your accounting costs.
Gerry Anderson, M.Sc., CPA, CMA