Professional Management Matters

Professional Management

Matters

MICHAEL McMANUS CFO Outsource

Cloud based solutions present so much opportunity to small or micro businesses which now allows us to compete with the bigger players at a fraction of the cost.

Here is a quick checklist of the systems, programs or business start-up tools you may want to consider when establishing your business or looking to redesign your business processes:

Domain name You need to get a professional and meaningful website up and running from day one. There are plenty of sites where you can secure a domain name for your website, as well as port forwarding and email.

Website If you don’t know the first thing about web design, have no fear. There are plenty of services that give you simple editors and templates to create stunning websites and hosting services.

Email Ensure you can use your domain name with whichever host you chose for emailing services. You may also get extra added features such as team document storage and shared calendars and mailboxes.

Document management or storage There are a few options to get good storage space for free and share files seamlessly and reliably across all your staff. You don’t need to spend thousands of dollars on a virtual server or local hardware to accommodate your small office needs.

Client Relationship Management (CRM) Every small business needs a basic way of storing client data and correspondence. Consider whether your CRM should be sales focused to keep your team on track and working to regular and visible targets.

Accounting and payroll So much choice and so much range in terms of the fee. Payroll is typically the key selling feature as most programs will stipulate how many employees you can include in your monthly subscription fee.

Accounts payable The days of manual handling of supplier invoices are coming to an end. Hosted accounts payable automation now gives you the ability to import data directly from supplier invoices into your accounting system. These systems can save hours of manual work for any business processing supplier invoices in medium to high volumes. As a bonus, they also give you an easy to follow audit trail and electronic storage of supplier invoices.

Small businesses can now operate a sleek set up with new online solutions popping up every week. The open source nature of app development means there are many options available which can make choosing the best product difficult. Reading online reviews and asking for recommendations from your accountant or IT provider can help you narrow down the list.

ABOUT THE AUTHOR Michael is the managing director of CFO Outsource, a new business offering outsourced Chief Financial Officer services to growing businesses. CPA and MBA qualified, Michael draws on his experience working as a CFO in the corporate world to bring real world financial management expertise to the Sunshine Coast’s small and medium businesses.

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At CFO Outsource we deliver real solutions for your business by:  Providing accurate, reliable and timely financial information  Implementing best practice financial management  Showing you how to take control and access cash flow  Reducing your finance and accounting staff worries  Driving growth and earnings predictability

Tamara Cross: 0413 774 511 | Michael McManus: 0424 290 968 info@cfooutsource.com.au K1 Building 17/16 Innovation Parkway, Birtinya www.cfooutsource.com.au