We always advocate any business to strive internally to search for efficiencies. Usually it involves systemising processes and spending a bit longer to template things if they are likely to be used again. It’s also being open to embracing new software that offers faster and smarter systems than you currently have. The hardest part is keeping up with all the new offerings out there.
There are many examples of time saving software out there but most people don’t know what they don’t know. Here are a few gems:
• Payroll software – do pay runs in a couple of minutes and have all your returns filed automatically with IRD. Have employees login for a payslip or leave balance without asking you to work it out.
• Modern accounting software – send electronic statements/reminders at the click of a button.
• Pay invoices in batches. Paying 1 invoice should then take the same amount of time as paying 100 invoices.
• PDF editors – scan almost any of your documents allowing you to edit, and will get 90% plus of the words correct without you having to retype it. If numbers are embedded in a Word document, the editor can also reformat them into Excel.
• Excel skills – Excel is a massively powerful tool and pivot tables/lookups can automate further reports and analysis in a minute with properly set up templates.
If you’re not sure where to start, begin by listing down what tasks you spend most of your time on or your main frustrations. Then ask us for any hints or ideas on what solutions might be out there to reduce the time involved in these areas.