LIZ JARVIS
BETTER BUSINESS DECISIONS MAKING BUSINESSES COUNT TOWARDS PROFITABILITY In our age of sophisticated accounting software and internet-based business solutions the chore of business beancounting has never been easier or more straightforward. But what if all this automated ease that can churn out detailed spreadsheets at the touch of a button masks issues that have potential to derail a business? Do all these convenient softwarebased accounting processes encourage business owners to turn a blind eye to the realities of their day-to-day operations? Are the machines taking over and turning businesses into facsimiles of themselves – soulless, data-driven companies lacking the character to interact effectively with their customers and communities? Liz Jarvis of Better Business Decisions believes there’s more to it than that, and devotes herself to empowering business owners in the art of harnessing the strength of all this business technology for detailed insight and understanding of their company’s financials.
BRIDGING THE GAP This one-woman crusade against the disconnects between business owners and their accountants takes a personal, hands-on approach to help them bridge this gap and build profitability. “Unfortunately, the rise of accounting technology and its speed of change
has led to some business owners and accountants relying on software to run their businesses and depending on it to get it right,” she says. “It’s an inviting path to take, but it can be a perilous one for the unwary. Software accounting systems are invaluable for efficiency, but without human engagement they take a bland view of a business. “I work with my clients to bring them back to the numbers and fully engage with their financial statements – it’s amazing how their perceptions of the business can change just by walking them through their financials as the ‘Story of their Business.’ “And I always encourage them to adjust account names to be more meaningful to their unique operation.”
ON-LINE FINANCIALS
various fields of business accounting. A graduate in Economics from Sydney’s Macquarie University, Liz worked for one of the city’s ‘Big 8’ international accountancy firms, before a move to the country and a local firm of accountants, then a period in-house with a technology client. The introduction of GST pulled her back to compliance work, where she witnessed significant shifts in regulation of tax agents and financial advice impacting the holistic way accountants had traditionally served business owners. Her passion for empowering businesses came with a change of direction into business coaching to liaise with entrepreneurs, where she began to identify the negatives of a hands-off approach to a company’s financials.
Technology is a big factor in all this for Liz, who runs Better Business Decisions from office premises in Wingham, New South Wales, where banks of computer screens and equipment connect her with clients right across Australia.
“The bottom line in accounting isn’t only the final line of a profit and loss statement – it’s analysing the detail, including balance sheet items and asking whether or not everything is complete and accurate. Once it is, you have the clarity to improve the bottom line,” says Liz.
Even before the COVID-19 pandemic gave rise to the popularity of Zoom she was an enthusiastic user of the app, hooking up with businesses to give them guided tours and analysis of their on-line financials.
“Assuming everything is OK because the software says so is definitely the wrong way to go. I work with my clients to challenge that mindset and empower them to dig deep into the numbers to find new directions and profits.”
EMPOWERING BUSINESSES
BETTER BUSINESS DECISIONS
Her keen insight into what makes businesses tick – and what will make them run better and more profitably – is rooted in a lengthy career of working in
betterbusinessdecisions.com.au hello@betterbusinessdecisions.com.au +61 (02) 6553 0274 1/20 Isabella Street, Wingham NSW 2429
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