2021 productivity/time management tips for accounting firms

Key quotes:

• "They are not interested in adding in their business and prefer to work in the traditional method as they were processing."
• "They are not aware of the benefits of cloud technology and think implementing cloud in their operation can increase their budget."
• "For well-established companies, switching to cloud setup is unnecessary and inconvenient as they think it will disturb their daily task procedures and method of working and will ultimately lead to extra cost."
• "In this era, technology has brought a new improvement in the world of business, and cloud technology is one of them."
• "It automated many business processes that boost productivity and helps in the decision-making for the company’s betterment."
• "However, even after implementing the QuickBooks software, it is not harder for some accountants to spend considerably more time on management and accounting."

Key quotes:

• "The Power BI suite of analytical tools provides accurate business insight across multiple organizational functions including finance and accounting."
• "Thanks to its in-built flexibility, Power BI users can integrate their data with the Microsoft Dynamics 365 suite of products for finance and operations."
• "As a business user, you can implement a financial operations dashboard in Power BI that can display visualized data from cost management and financial accounting."
• "The financial operations dashboard in Power BI allows you to: Here is an example of a Power BI cost management dashboard."
• "Along with being real-time and interactive, financial operations dashboard in Power BI includes a number of components such as: Power BI dashboards provide a visualized form of account receivables and payables."
• "The financial dashboard in Power BI works for multiple data sources and integrates the data components for enhanced clarity and insights."

Key quotes:

• "Hibox helps you handle the three most critical pain points in collaborating with your team: faster communication (team messaging), keep track of your projects (task management) and live discussions for remote work or separate offices (video calls)."
• "Having all these tools integrated helps teams start working right away, whereas with other messaging apps you have to setup separate products that require an additional cost and time and create external integration’s that often just show notifications that don’t actually let you get work done."
• "Hibox helps companies increase productivity, save time managing tasks, reduce time spent in meetings, reduce dependence on email and improve communication."
• "By analyzing our clients’ use of Joincube we detected that smaller teams needed a faster, more agile communication method as well as an easy way to manage tasks and track progress."
• "Each of these tools offers an incomplete vision of what your team needs to collaborate (i.e."
• "Hibox offers a complete vision of productivity with 1) faster communication (team messaging), 2) keep track of your projects (task management) and 3) live discussions for remote work or separate offices (video calls)."

Key quotes:

• "However, funding a business is just the beginning — managing the cash flow when your business is fully operational is a bigger challenge."
• "While sales and profits are key to the success of a business, the way you manage your money can be a huge factor."
• "Many small business owners make the mistake of mishandling their finances, leading to goals not met and worse, their business failing."
• "The silver lining is that there are many small and easy things you can do in your day-to-day operations to effectively manage your business’ finances."
• "Establish a budget A budget helps to ensure that you can smoothly operate your business and manage your expenses and revenue without compromising your cash flow."
• "This enables you to effectively manage your receivables and maintain your cash flow."

Key quotes:

• "Remote workforces will endure as a core element of how companies engage their employee base, and with this shift comes a unique set of challenges that many leaders have not yet faced in their careers."
• "As operations normalize, these teams will take a focus to model out the longer-term strategy of the organization’s financials, and remote work environments will naturally become a focal point of these discussions."
• "As organizations are forced to sustain remote work environments for their employees, it calls into question the necessity of this expense."
• "As leaders go through the exercise of transforming their organizations into a dispersed model, the biggest area of emphasis will be their people management practices and how to enable leaders at every level of the business to effectively manage their teams despite differences in locality."
• "And from this comes a wealth of opportunity for people to reinvigorate what it means to be a working professional and a human… Management Consulting as a Catalyst for Change — Practiced business leaders and esteemed academics alike, find themselves within the ranks of consulting companies."