Timesheets contain a treasure trove of information, highlighting the clients and projects that are profitable and show which are going awry. Here are five reasons why you need to record timesheets.
Since the Brexit vote, relations have been frosty with the EU. Although the UK is unable to sign any trade deals until it has left the EU, the British government has approached the six nations of the Gulf Co-operation Council (GCC), to try and drum up interest in signing new deals.
Any trade deals would be seen as a financial cushion for the UK from the economic impact of the Brexit. The GCC, comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and United Arab Emirates (UAE) have a vast amount of money to invest.
So, what could the estimated £30 billion worth of new opportunities for the UK include?
To remain healthy, businesses that operate on low margins, such as distribution, e-commerce and wholesale, need to scrutinise everything.
In a competitive marketplace, how do you grow and maintain profitability?
There’s been a significant increase in cyber crime, with both large and small businesses at risk. In 2014, it accounted for 20% of all UK economic crime, just two years later it now accounts for 44%.
The threat from cybercrime is so severe that it should be an issue for boardroom discussion.
Cyber-attacks on businesses fall into two main categories: hacking and ransomware.
To flourish as a Chief Financial Officer (CFO), you need to stop being seen as a bean counter. Instead, you become more valuable by repositioning the finance function: transforming your traditional CFO position and also becoming a business partner.
So, how and why should you master partnerships throughout your organisation? Here are a few tips:
Keeping costs lean in any business is essential, but this shouldn’t be the main focus when it comes to increasing profits. There are a many ways your business can boost profits without resorting to the usual, cost cutting exercises:
Will Donald be great for UK businesses wanting to trade with the US, or will he throw up a virtual wall between us? The UK government is optimistic, believing that it’s possible to reduce trade barriers, leading to a boost in trade between the two countries. However, Trump is infamous for his ‘putting America first’ stance.
Here's a rundown of potential opportunities and threats.
In his first statement as Chancellor, Phillip Hammond seems to have had the fallout from Brexit weighing on his mind. He warned of turbulent, uncertain times ahead as the UK leaves the EU. But what does his Autumn Statement mean for business and not-for-profits?
There’s always a good reason to tighten up capital. When you’re growing, it creates investment overhead. In tough times, cash is a buffer. But it’s all too easy to let things slip. (PwC’s working capital survey reckons we have – to the tune of €1.1trillion globally.) And the best way to tighten up is to get the message out to people outside finance.
The wheels are falling off HMRC’s Making Tax Digital programme. But delays in the implementation of Her Majesty’s own digital plans shouldn’t stop SMEs from investing in technology.
UK GDP growth stood at 0.5% for the third quarter, down slightly, but good enough to calm fears of a post-referendum panic. Here’s why your business shouldn’t care either way.
Businesses often consider regulation an anathema. Yet, often it’s only the rules that tell you whether you’re winning, that keep cheaters out of the game, and that give you a platform for growth.
The UK has two-and-a-half years to negotiate a Brexit arrangement with the EU. But as every FD knows, deals that involve complicated carve-outs for special situations are a recipe for disaster.
A Chinese innovator has topped the most recent Fintech 100 list. Only 18% of the innovators listed are UK-based, meaning that every other region of the globe is ahead of us. On a positive note, we have some leading innovators based in London. Plus there’s plenty of hard work going on in the UK.
But it’s clear that more needs to happen to establish the UK as a world Fintech leader. There are external forces to consider when looking at what’s holding the UK back. So what’s missing from this equation, and how could we put our island back on the Fintech map?
The internet and technology has been a catalyst for many organisations that have gone from start-up to a multi-million pound business. Managing this explosive growth can be a challenge for even the most capable FD. We’ve drawn up a list of the five additional ways that accounting software can – and should – support you in your role:
This week, Sage experienced a data breach which affected approximately 280 UK customers. It appears that this unauthorised access to customer data was via an internal login. Oracle is also not immune from such compromises. Earlier this month, Oracle Security detected malicious code in certain legacy MICROS systems. The cause hasn’t been disclosed to the public yet.
It’d be an understatement to say that the internet changed the world, but now the explosion of mobile is set to mix up the status quo again. Most of us carry computers in our pockets many times more powerful than our first PC, providing a nearly uninterrupted connection to the rest of the world.
We’ve identified five top trends in business mobile usage which may soon have a significant impact on business - if they haven’t already.
It's one thing to have an expense policy in place, but enforcing it is a different matter. Successful expense policies avoid resistance from employees by making the whole process as easy as possible.
Here are 5 tips to help you make your expense policy user friendly:
Dealing with change is something that we, as business owners and CFOs, contend with on a daily basis. With the Brexit result it's obvious we're heading into uncharted waters.
The uncertainty will continue for some time. So, here are our 10 tips to help navigate the risk and grasp the opportunities in a post-Brexit era:
The first referendum on Britain leaving the European Union was in 1975. Actually, it was pre-EU times. The electorate voted 67.2% in favour of staying in the European Economic Community.
Recent opinion polls suggest a much closer margin as the June 2016 referendum approaches. The potential effects of a British exit from the EU is a cause for concern for many businesses. Particularly for finance professionals.
3 ways technology can help you take control of your projects
One of the most common mistakes that can lead to an unsuccessful project is a failure to keep control. Technology ensures you can see all your information at anytime from anywhere. This contributes to the success - and profitability of a project.
We all have it in us to operate in the grey area of our company’s expense policy. Yet, research shows that some people take it further by embezzling money from their expense accounts.
Irritation is a natural emotion if we think something is unfair. In certain circumstances, it can lead some people to behave in a corrupt manner. They want to restore the balance of fairness as they see it. How far we're likely to go may be something to do with our basic personality types.
Manual expense claims processing is one of the most inefficient administrative procedures in business. Not only does it suck up the time of everyone involved, it's financially inefficient as well. Ask any claimant, approver, purchase ledger clerk or head of finance.
Here are 8 reasons why there's got to be a better way:
With the Budget out and the inevitable changes to be made, we thought we’d highlight some of the key points covered. While the sight of that red leather case can give rise to trepidation, this year’s been kinder to small business owners.
In anticipation of the EU referendum, Chancellor George Osborne and the Treasury have aimed to get the nation’s SMBs on side, probably due to the huge part they play in driving the UK economy.