🐣 Spring Forward 🐣
Spring is a natural time to look at what needs refreshing. What's one thing you could do this month to make your business financially stronger?
Hopefully one of the tactics below points you in the right direction. Pick the one that would have the biggest impact right now and commit to it. Some you can knock out this month, others may take longer and need your whole team. The point is to always have one improvement in the works.
If nothing below resonates but something else is on your mind, reach out. That's what we're here for.
In this month’s edition, we have tactics from our Manage Costs Effectively, Enjoy Reliable Numbers and Leverage Accounting Strategically playbooks. Our playbooks are designed to support our P-R-O-F-I-T approach to outsourced accounting.
🏆 Strategic Partner Highlight 🏆
Per Sjöfors
Founder & CEO | Sjöfors & Partners | The Price Whisperer®
Pricing is the single biggest driver of profit, and most businesses get it wrong. Per and his team use market research and data science to find what buyers will actually pay. When our customers need pricing clarity, he's who we call.
This Month’s Tactics
Use Modern Banking Solutions
COVID showed that big banks do not always play nice. Consider modern banking solutions like Relay or Rho that let you instantly open accounts, issue credit cards, and pay bills.
Structure Your Payables Process
Do you pay bills as they arrive or when you remember? Create a payables process with a set schedule and use tools like BILL to keep it organized and consistent.
Remove Accounting Bottlenecks
Timely, accurate accounting starts with clarity. Give your team timely context and support so they can efficiently record transactions and close the books with confidence.
Track Fewer, Better KPIs
With hundreds of KPIs out there, how many should you track? Start with 1 to 3. Only track metrics you'd actually act on if they looked off. That’s what makes them valuable.
Clean Data, Better Forecasts
To unlock the full potential of forecasting tools like Fathom, your accounting data needs to be properly categorized and broken out. Clean, organized data makes goal-seeking and scenario planning far more effective.
That’s it for this month.
Short and sweet.⚡🎯
Just quick tips and tactics that help you build a stronger business.
Learn more about Basis 365 Accounting and our tactical playbooks developed from our P-R-O-F-I-T approach™.
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