The concept of a Gross Profit Officer came out of a brainstorming session with a client of ours in which we looked at how they could make more profit from any given level of sales.
It made sense to us, it will probably work for you, so what is the role of the Gross Profit Officer?
“It’s on my phone so it must be right!” said a client of ours recently.
And it struck me that because we use our phones for pretty much everything, we tend to assume they tell us the right answer all the time.
But perhaps your smartphone is not so smart after all – or perhaps the users aren’t!
I’m talking here about cloud accounting apps – the phone apps that accompany cloud accounting software packages. They’re an extension of the software you can also access from a laptop, PC or tablet.
They let you carry out data entry on the go, such as new purchases and sales invoices, and access some reports, such as the Profit & Loss report my client was looking at.
They’re the way of the world and it’s Canute-like to think this technology is going to disappear. It isn’t.
So the trick is to understand and use cloud accounting apps sensibly.
The paper-free accountant can now exist because online services have fundamentally changed the landscape of how businesses can interact with their accountants. This change is set to continue.
There are several enabling technologies and a tendancy to lump them together and suggest you can’t have one without another.
That is not true, so let us unbundle them and see how you can build a mix – and – match solution that’s right for your business and lets you choose a paper-free accountant.
A part time finance director is so often a very good idea for a company simply because for most companies there is no such thing as a full-time finance director.
Two reasons we don’t see it happen very often are that MDs may not recognise the value that a part time finance director can bring and, if they do, finding a good one is more difficult than it should be.
We explore the role and responsibilities of the part time FD and how we can help you if you need one.
Most business owners, most Managing Directors are not accountants. Yet most businesses get by, survive and thrive.
So what is it that these people running most businesses know or need to know if they are to be sustainably profitable and successful?
Six financial things.
Management accounts are essential for every business.
Quite simply, you need to know how you are performing and you need to know what to change or do more of in order to perform better.
When people search the web for accountants they usually do so geographically – accountants in Fulham or accountants in Richmond – as part of their search activity.
Local is good. However, a network of offices is expensive.
But not any more, not if your business embraces the cloud!
Although this blog is primarily about how Blue Dot Consulting embraced the cloud, it could just as easily apply to any business under the sun.