The Business Exchange Bath & Somerset Issue 2: Winter 2016/17 | Page 12

FINANCE Hear it from the experts… Cloud technology gives business owners true clarity Debbie Boulton of Bath accountants Richardson Swift explains how powerful new technology is helping business owners predict their financial future and plan for growth. With the New Year fast approaching, many business owners have started to think about getting fit for 2017. But it can be difficult to plan for the future - or spot threats – without a clear understanding of your finances. The problem is that most owner-managers don’t have time to spend analysing complex spreadsheets for a clear picture of what’s going on. Traditional accounting has run at a time lag but new cloud-based technology has changed everything. We can now extract data every day to provide clients with a visual snapshot of vital data about their businesses, viewable on all devices. CrunchBoards, an add-on to the well-known Xero package, allows us to help you devise and monitor Key Performance Indicators (KPIs) in real time and plan for different scenarios. If you run a hotel or restaurant, for example, this might include average spend per customer, food and drink margins, and short-term cash flow. We pull this information from your accounts to present it as simple, graphical dashboards. This means you can see exactly what’s happening in your business, daily, and share vital information about profits and turnover with your team, wherever you are. We can also help you spot cash flow problems before they arise so that you can take swift action. Preparing financial forecasts and monitoring whether you are on course to achieving them is also much easier. allows you to plan ahead with confidence and build a profitable future. Richardson Swift is one of very few accountants in the South West using this powerful technology. To find out how it could benefit your business, contact: Debbie Boulton 01225 325580 [email protected] Gone are the days of waiting until the end of the year to find out what your annual profit is looking like. This approach also helps answer those strategic and often difficult ‘what-if’ questions that all business owners face. What will happen if I put up prices? Can we afford to recruit? Having this financial information at your fingertips Get in touch for fresh ideas 11 Laura Place, Bath, BA2 4BL | 01225 325580 | www.richardsonswift.co.uk YOU WON’T FIND US PLAYING HIDE AND SEEK www.thrings.com THRINGS SOLICITORS 12 THE BUSINESS EXCHANGE 2016