Value Smart

Research shows that only 40% of businesses make it past the five-year mark. In South Africa in particular, the stats are even higher.

Source: NFIB Business Policy Giode, 2003, p16.

In fact, SEDA (The Small Enterprise Development Agency) which is an agency of the Department of Small Business Development, estimates that SME’s here at home have a 75% failure rate.

And while some may argue that reasons include a lack of skills development or access to markets, others say that inflexible labour relations and the absence of mentoring are to blame. The one thing that all they all unanimously agree on is that:

The main contributing factor to business failure is a lack of financial literacy and poor money management.

In my opinion, what successful companies have in common is focused leadership and a solid working knowledge of finance.

The more I speak to people, whose business failed due to financial reasons, I always ask them why they did not employ the help of someone financially literate to help them manage their finance. The answer that invariably comes back is, “I didn’t have the money to pay a full-time professional.”

H2:

How outsourcing your financial functions can save the day.

H3:

  1. Free up your time to focus on what you do best.

You’re in business because you know how to provide something people need, and you do it well.

You should be focusing on that.

Instead, your efforts are diluted because you are trying to single-handedly manage sales, marketing, HR, operations and keep your financial processing in order.

Thanks to the wonders of cloud technology and virtualized business, you can get all the financial processing power you need from a virtual accounting service. You can also acquire cloud accounting software that will automate many tedious functions so that you can focus your energy on why you started your business in the first place.

  1. Lower costs and increase cash flow.

Your financial reports hold a wealth of information (pun intended). They give you an accurate view of how your business is performing. They can also help you to pinpoint exactly where any vulnerabilities or opportunities may be.

This is how you can see where to trim the fat and even prevent –or in some cases, detect– theft within your business. Knowing how to read your financial reports can help you to streamline your inflows and outflows. Maintaining healthy books can also assist with securing loans or investors too.

Not only can you reduce expenditure as a result of accurate financial record keeping, but outsourced accounting saves you the cost of having to hire a full-time financial manager.

  1. Improved financial decision making.

As I mentioned above, up-to-date financial records can put you in a better position to make wiser business choices, thanks to forecasting. You can use historical reports to identify trends in seasonality (or many other influences) and determine future financial conditions. Meaning that you’ll be able to anticipate boons and slumps and prepare accordingly.

Cloud computing solutions allow you to have constant visibility of your business’s financial health. This means that you can access real-time records when decision-making simply cannot wait – without risking your company’s well-being.

  1. Just what you need.

Here is some insight that few other finance professionals will share: When a financial optimization specialist offers their services on an outsourced basis, they too are running a business! They have the same concerns that you do: “Do my best for my customer and ensure that they stay with me.”

It’s a win-win situation. Your service provider needs to charge competitively, complete your work timeously, and deliver results to retain you as a customer. So they will design packages based on their knowledge of financial roles and business needs to offer an affordable package <link to https://valuesmart.co.za/solutions/>.

(You’ll also be guaranteed that they will have the most efficient solutions to increase productivity because they probably use it for themselves as well.)

H3:

  1. Compliance and guidance

Any qualified professional in the business of providing financial services is required, by law, to log 40 hours of Continual Professional Development (CPD) per year to maintain their technical knowledge and stay up-to-date on the latest practices and applicable laws.

They are then obligated to exercise these practices and make you aware of the laws and your responsibilities – insofar as possible (It is important to remember that we can’t help you on certain things if you don’t make us aware of them).

The law is ever-changing. When you submit official reports to SARS, you make a declaration that the information is true and correct. Falsified or incorrect data can result in hefty fines or persecution. You can be confident knowing that you will receive advice, guidance and support on all financial compliance matters when you have a certified professional helping you.

H4:

But what you really want to know is…

The best action you take to ensure your business success is empowering yourself.

To truly get ahead in your business, you need to understand the fundamentals of finance. It’s good to have your financial processing handled by a professional, but is infinitely better when you comprehend that data that you receive.

Having a working knowledge of finance can only improve how you manage your business. If you would like to learn more about the role of finance and how to assess your organization’s financial health, speak to us <link to contact or inquiry form>.  We provide business owners with the training, coaching, and guidance needed to comprehend their financial information, and empower private enterprises to make better business decisions.

Blurb/intro/or hook:

Long:

5 Simple Reasons Why Outsourcing Financial Processing Will Increase Your Business Success.

Research shows that only 40% of businesses make it past the five-year mark. In South Africa in particular, the stats are even higher.

While some may argue that reasons include a lack of skills development, others say that inflexible labour relations are to blame. The one thing that all they all unanimously agree on is that a lack of financial literacy and poor money management is the main contributor to business failure.

We explore how outsourcing your financial processing can save you….

Short:

5 Simple Reasons Why Outsourcing Financial Processing Will Increase Your Business Success.

Only 40% of businesses make it past the five-year mark. In South Africa in particular, the stats are even higher. The main reason for this is a lack of financial literacy and poor money management. We explore how outsourcing your financial processing can save you….

Research shows that only 40% of businesses make it past the five-year mark. In South Africa in particular, the stats are even higher.

Source: NFIB Business Policy Giode, 2003, p16.

In fact, SEDA (The Small Enterprise Development Agency) which is an agency of the Department of Small Business Development, estimates that SME’s here at home have a 75% failure rate.

And while some may argue that reasons include a lack of skills development or access to markets, others say that inflexible labour relations and the absence of mentoring are to blame. The one thing that all they all unanimously agree on is that:

The main contributing factor to business failure is a lack of financial literacy and poor money management.

In my opinion, what successful companies have in common is focused leadership and a solid working knowledge of finance.

The more I speak to people, whose business failed due to financial reasons, I always ask them why they did not employ the help of someone financially literate to help them manage their finance. The answer that invariably comes back is, “I didn’t have the money to pay a full-time professional.”

H2:

How outsourcing your financial functions can save the day.

H3:

  1. Free up your time to focus on what you do best.

You’re in business because you know how to provide something people need, and you do it well.

You should be focusing on that.

Instead, your efforts are diluted because you are trying to single-handedly manage sales, marketing, HR, operations and keep your financial processing in order.

Thanks to the wonders of cloud technology and virtualized business, you can get all the financial processing power you need from a virtual accounting service. You can also acquire cloud accounting software that will automate many tedious functions so that you can focus your energy on why you started your business in the first place.

  1. Lower costs and increase cash flow.

Your financial reports hold a wealth of information (pun intended). They give you an accurate view of how your business is performing. They can also help you to pinpoint exactly where any vulnerabilities or opportunities may be.

This is how you can see where to trim the fat and even prevent –or in some cases, detect– theft within your business. Knowing how to read your financial reports can help you to streamline your inflows and outflows. Maintaining healthy books can also assist with securing loans or investors too.

Not only can you reduce expenditure as a result of accurate financial record keeping, but outsourced accounting saves you the cost of having to hire a full-time financial manager.

  1. Improved financial decision making.

As I mentioned above, up-to-date financial records can put you in a better position to make wiser business choices, thanks to forecasting. You can use historical reports to identify trends in seasonality (or many other influences) and determine future financial conditions. Meaning that you’ll be able to anticipate booms and slumps and prepare accordingly.

Cloud computing solutions allow you to have constant visibility of your business’s financial health. This means that you can access real-time records when decision-making simply cannot wait – without risking your company’s well-being.

  1. Just what you need.

Here is some insight that few other finance professionals will share: When a financial optimization specialist offers their services on an outsourced basis, they too are running a business! They have the same concerns that you do: “Do my best for my customer and ensure that they stay with me.”

It’s a win-win situation. Your service provider needs to charge competitively, complete your work timeously, and deliver results to retain you as a customer. So they will design packages based on their knowledge of financial roles and business needs to offer an affordable package <link to https://valuesmart.co.za/solutions/>.

(You’ll also be guaranteed that they will have the most efficient solutions to increase productivity because they probably use it for themselves as well.)

H3:

  1. Compliance and guidance

Any qualified professional in the business of providing financial services is required, by law, to log 40 hours of Continual Professional Development (CPD) per year to maintain their technical knowledge and stay up-to-date on the latest practices and applicable laws.

They are then obligated to exercise these practices and make you aware of the laws and your responsibilities – insofar as possible (It is important to remember that we can’t help you on certain things if you don’t make us aware of them).

The law is ever-changing. When you submit official reports to SARS, you make a declaration that the information is true and correct. Falsified or incorrect data can result in hefty fines or persecution. You can be confident knowing that you will receive advice, guidance and support on all financial compliance matters when you have a certified professional helping you.

H4:

But what you really want to know is…

The best action you take to ensure your business success is empowering yourself.

To truly get ahead in your business, you need to understand the fundamentals of finance. It’s good to have your financial processing handled by a professional, but is infinitely better when you comprehend that data that you receive.

Having a working knowledge of finance can only improve how you manage your business. If you would like to learn more about the role of finance and how to assess your organization’s financial health, speak to us <link to contact or inquiry form>.  We provide business owners with the training, coaching, and guidance needed to comprehend their financial information, and empower private enterprises to make better business decisions.

Blurb/intro/or hook:

Long:

5 Simple Reasons Why Outsourcing Financial Processing Will Increase Your Business Success.

Research shows that only 40% of businesses make it past the five-year mark. In South Africa in particular, the stats are even higher.

While some may argue that reasons include a lack of skills development, others say that inflexible labour relations are to blame. The one thing that all they all unanimously agree on is that a lack of financial literacy and poor money management is the main contributor to business failure.

We explore how outsourcing your financial processing can save you….

Short:

5 Simple Reasons Why Outsourcing Financial Processing Will Increase Your Business Success.

Only 40% of businesses make it past the five-year mark. In South Africa in particular, the stats are even higher. The main reason for this is a lack of financial literacy and poor money management. We explore how outsourcing your financial processing can save you….

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