The Business Exchange Swindon & Wiltshire Edition 40: Dec/Jan 2018/19 | Page 37

Tech tips for 2019 from the team at Purple Lime As 2019 approaches the growing team at innovative accountancy firm Purple Lime have been keeping their eyes on emerging technologies to help their clients embrace the benefits of cloud accounting. This young company, based at Hartham Park in Corsham, is now celebrating two years in business. During 2018, founders Angela Ashworth and Oli Thomas have recruited five new team members and are now working with a broad range of ambitious companies looking for a fresh and immediate approach to accountancy. These include DenGro Ltd, A Touch of Tradition Ltd, Interactive Scientific Ltd. Already a Silver Champion Partner with online accountancy software brand Xero, the team are always exploring new tech. In November they attended Xerocon – the annual conference in London where Xero brings together the global leaders in the world of cloud accounting applications. Among this year’s keynote speakers were Ben McBean, a former Commando and double amputee, who invested his compensation pay-out into property and now has a portfolio of around £2million and Britain’s greatest Olympian Sir Chris Hoy MBE sharing the highs and lows of being an elite athlete. Angela Ashworth, co-founder of Purple Lime, said: “Xerocon is a fantastic way to be inspired by people with amazing stories who are using the kind of tech in their own businesses or lives that we ask our clients to embrace. “It also allows us as a team to explore emerging technologies in cloud accounting in one place and in detail. In turn this will allow our clients to stay ahead of the curve. We met the creators of these technologies, and together were able to identify which applications would bring efficiency with ease of use to our clients and to spread that knowledge during 2019.” Some of their top tech tips are: *iCompleat – an automated invoice capture and approval process in a single application. The functionality is completely tailorable for the business and its users which leads to real time cash requirements and an efficient accounts payable process. *Iwoca – a fast and flexible credit line service for up to £200,000 allowing small businesses to grow. Compatible with Xero, decisions to extend credit are taken within a matter of hours in many cases. *Tide – Aimed at the ambitious small business market who can now open a business current account within minutes online! No monthly fees, pay per transaction and obtain instant credit if required. businesses. The SME sector has always been innovative and they need innovation when it comes to banking and finance to enable growth. The traditional routes have been slow to catch on and I believe these new tech-based services will see growth and expansion during 2019 because they are more responsive and easily accessible.” For more info: www.purplelime.uk.com [email protected] 01249 691360 *Satago – On demand flexible invoice finance – select the invoice(s) you wish to finance, and you can potentially receive funds in your account within 24 hours. Incorporates a free credit control tool and provides instant risk insights for your business. Oli said: “One emerging theme this year has been around the changing face of business banking and access to finance for small ADVERTORIAL Staying secure in 2019: What we can learn from 2018 cyber trends by Ian Sharpe, Senior Account Director, for Jelf in Swindon Whether it’s preventing a mass data breach or finding ways to comply with the General Data Protection Regulations (GDPR), the need for cyber preparedness and resilience is vital. However, a recent survey from the Economist Intelligence Unit revealed that only 13% of organisations feel that they’ve learned from past cyber-mistakes . It’s worth reviewing some of the things that have happened during 2018 to keep your organisation safe from future attacks. 42% of small or micro businesses identified at least one breach or attack between April 2017-April 2018. It is a commonly held belief that only larger companies are at risk of hacking, as they have more to steal. However, smaller organisations are as likely – and potentially a lot easier – to target. • Lack of IT security: small businesses may not have the capital or an IT department to keep up to date with IT security. • Cost to hack: despite the rewards being less than a “big business” hack, the effort required to hack a small business is likely to be less so would be an “easy win” for a hacker. • Small/medium businesses still have the data and assets that hackers want - credit card information, client details and a need to keep doing business. Maximum fines for the most serious data breaches are €20 million, or 4 per cent of the company’s global annual turnover (whichever is greater) The General Data Protection Regulation (GDPR) introduced enhanced rights to individuals and their data, and places greater obligations on businesses and other entities that process personal data. If you haven’t already it’s worth visiting www.ico. org.uk for a more detailed overview of your responsibilities under the GDPR. Facebook lost $25 billion dollars from its market value after the Cambridge Analytica scandal earlier this year. Major cyber-attacks that end up in the media can result in a tarnished reputation for your organisation. procedure is in the event of a cyber security breach. • Review your insurance policies to check whether your business is covered in the event of a cyber attack. If you could benefit from a review of your cyber insurance, contact Jelf via Jelf.com. 80% of cyber breaches are preventable As with many things it is best to be prepared • Provide regular cyber security training • to your staff. • Install anti-virus, spyware and malware detection software on all devices. • Develop a written incident response plan, which should include what the For more info: www.jelf.com [email protected] 01793 714431 THE BUSINESS EXCHANGE 2018 37