If growth could be possible without accounting, many business owners will gladly not bother. But to future-proof your business, you need to understand at least basic accounting processes. With today’s technology, the headache many get from accounting is drastically reduced.
Sage, a market leader for integrated accounting, payroll and payment systems, recently unveiled some of their software solutions to potential customers. The software enables both the professional accountant and the ordinary business person to have a better picture of their accounting process and track their finances in real time.
According to Gerhard Hartman, head of Sales – Sage HR and Payroll International Divisions, every business owner should be thinking of where the company will be in the future.
“The business landscape is going to start changing at an even more frenetic, almost warp speed and pace. New technologies, agile business models and dynamic customer experiences are inspiring all empire-builders to build continuous adaptation into their operations,” Hartman said.
Hartman highlighted five ways a business can future-proof itself. These include knowing the mission inside and out. The mission should take into cognizance the guiding principle, business philosophy, and company goals. Also there should be a clear picture of where the company fits in the world. This is where understanding the niche and the unique positioning become very essential. Third, it is crucial to understand the financial past. When this is not done, it is difficult to forecast for the future.
Fourth, Hartman reckoned that every business can benefit from doing market research. “It can guarantee that you are making business decisions based on facts rather than opinions. The potential wealth of valuable insight can help determine the difference between a lasting empire and one bound for ruin.”
Finally, he believes that technology should be seen as a driver instead of a cost centre.
“Your workforce is evolving, so it should be natural to believe that your technology systems will evolve with their needs, expectations, and habits,” Hartman said.
Ashley Pillay, divisional director for Sage Evolution, noted that the company has gone ahead to think of the customers accounting, payroll and HR, and payment needs. Software solutions such as Sage 300, Sage X3 People, Sage Partner, Sage Evolution and others are provided to customers to make their business process seamless and more efficient, according to Pillay.
“Sage software is a full package,” noted Oluseyi Olarenwanju, CFO of Vodacom. “It is very flexible. There is virtually nothing you want to do that you cannot get on. With Sage, we close month-end in 2 days.”
