View The EFM approach to supporting businesses through difficult times

The EFM approach to supporting businesses through difficult times

Due to the current climate, business owners across the UK and Ireland, are likely to have had to make staff cuts including reducing finance team headcount in order to keep their businesses afloat. When you’re trying to save every ounce of cash in the business, and business volumes are under pressure, aligning people resource to the new activity level and transferring fixed costs into variable costs will help you to…

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View How Covid-19 is Reshaping Bookkeeping and Accounting

How Covid-19 is Reshaping Bookkeeping and Accounting

As we know, the Covid-19 pandemic is significantly impacting all aspects of society, reshaping how we live, work and play. In the business world, the pandemic is driving seismic shifts in the operational approach and strategies of many industries. The bookkeeping and accounting sector is experiencing these shifts in the form of new working paradigms,…

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View Late payments over Christmas affect one-third of UK SMEs

Late payments over Christmas affect one-third of UK SMEs

The closure of debtors over Christmas will negatively impact a third (33%) of the UK’s SMEs, according to new research released today from Nucleus Commercial Finance. Unfortunately for one in 10 of UK SMEs, it means that they will struggle financially – at a time when they should be able to concentrate on planning and…

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View 5 effective credit control strategies to make your sales more profitable

5 effective credit control strategies to make your sales more profitable

If you’re waiting until a payment is late to begin implementing credit control strategies, you are waiting too long. Good credit control should begin as soon as an order is placed, to help you avoid the risk of late payment and bad debt. The most critical period in the credit control process begins before the…

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View 5 Reasons to Outsource a Bookkeeper for Your Small Business

5 Reasons to Outsource a Bookkeeper for Your Small Business

When growing a small business, the importance of keeping accurate and up-to-date financial records cannot be understated. Proper and complete financial records and reports indicate where a business is and where it’s headed. Without them, many small businesses have little understanding of the company’s finances, what makes it tick, and risk expensive headaches if HMRC…

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View Why Entrepreneurs Need to Outsource their Payroll

Why Entrepreneurs Need to Outsource their Payroll

Entrepreneurs are the creative spark behind every new business. Often, they are dynamic forces of nature … but there are some things entrepreneurs should leave to others. Confidence. Determination. An appetite for risk. Passion. Adaptability. The list of traits traditionally associated with entrepreneurs is long.  However, there is one thing every successful entrepreneur must acknowledge…

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View 3 signs that you should outsource your credit control

3 signs that you should outsource your credit control

Credit control can be a topic that causes stress for small and large businesses alike, and more importantly the business owner.  Remember, a sale is a waste of valuable business resource until the cash is collected.  Improving credit control is the easiest way any company can access “new” finance. A good credit controller has competencies…

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View 7 credit control enhancements that will benefit your business

7 credit control enhancements that will benefit your business

Without a timely and consistent inflow of money, businesses can be significantly and adversely impacted. This can put huge pressure on even the most successful of businesses which may result in senior management time having to be spent focusing on non-value adding areas. With an effective credit control procedure in place, the threat of late…

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View Make your financial reporting more effective

Make your financial reporting more effective

Finance teams within small and medium-sized companies often say that financial reports prepared for board meetings, like profit & loss and trading reviews, get little or no reaction from attendees. In some cases, this could be due to the financial data not being understood fully or correctly. However, it could also be around providing insightful analysis…

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