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Accounts Payable Audit Software … Gives You Advantages

Feb 12th, 2019
by Louise.
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There’s a maxim that businesses that start in a recession tend to be leaner and tougher than those which get going in easier times. The same is broadly true, though to a lesser extent, of businesses that survive a recession. Some make it because they slim down and make every pound count; others only because they have reserves to rely on and not because their model is sound. Either way, a recession is a good time to make sure that waste is at a minimum and you are making the most of every opportunity. That goes for your accounts as well as advertising and product design or service provision. An accounts payable audit can show up where you have been going wrong for potentially years, without realising it – those areas such as duplicate payments where you have been throwing money away, solely because your accounts processes aren’t up to the job of pinpointing where errors and fraud are most likely to occur. Thus recovery audit software can have two helpful purposes: it can enable you to reclaim money lost in past overpayments, and it can help protect you from making the same mistakes again in the future.

When a company starts out, its accounts might be quite simple. A relatively small number of suppliers and clients (perhaps just one of each), and small, predictable payments. That’s easy enough to keep track of, but when your business grows you might find yourself adding new clients and complexity to a system that was never designed to keep up with it. That becomes time-consuming to administrate, for starters. Unfortunately, it also becomes vulnerable to errors, and even fraud. Even a single invoice itself is quite complex, with maybe a dozen different fields of data. The scope for discrepancies is large, and multiplies with the number of clients you have. Plus, some will always be unscrupulous and willing to see whether they can take advantage of your system’s inadequacies by filing duplicate invoices.

Duplicate payments represent the single largest category of overpayment, but there are many others. That’s why recovery audit software is so vital: it enables you to find exactly where the errors are creeping in, and to plug the gaps. Given that an estimated 0.1 percent of payments are spurious, an accounts payable audit can save a lot of money – especially if your business thrives on high numbers of transactions. In fact, it can make all the difference between going under and staying afloat – and will stand you in good stead for when the economic climate improves.

More at:  http://www.fiscaltec.com/uk/

Next generation access projects using the newest technologies

Jul 24th, 2014
by Louise.
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The internet has long been hailed as an inclusive and democratising resource providing a staggering abundance of information and helpful services. However, many people still feel isolated from the so-called age of information by the mere fact of living in an area where high-speed web connections are harder to find. Good news is on the way, however, as certain companies are getting behind ICT infrastructure developments that look to improve these unfair circumstances. Investments are being made, for example, in creative upgrades and corporate outsourcing programmes that will help rural estates participate in the online world through next generation access and community broadband set-ups.

We often hear the term ‘online community’ these days in reference to social networks created between friends, acquaintances and coworkers in the virtual realm. Clearly these networks can serve us well, particularly inasmuch as they make organizing events and meetings or sharing documents or articles more straightforward. For some time, rural inhabitants have experienced difficulties in reaping the benefits of such web-based communities, though they may have made up for their technological lack by strengthening connections and communications in the physical realm. Increasingly, however, rural estates are having it both ways thanks to the success of community broadband: they are finding themselves in a position enabling them to maintain the strong relationships they have established locally through more conventional means, as well as gaining in the online stakes. It really is a win-win situation.

Community broadband projects thus have a social as well as a professional function. Additionally, next generation access works to answer the requirements of both households, who may want to save time and resources by carrying out everyday tasks such as shopping and paying bills online, and businesses whose expansion and success has become unavoidably dependent on welcoming their presence on the internet. That is why ICT infrastructure upgrades represent such a serious and wide-reaching undertaking. Indeed, a great number of local councils are showing their support for the companies investing in improvements to internet access. In the north of the UK, in areas such as the South Yorkshire towns and cities of Sheffield, Barnsley, Rotherham and Doncaster in particular, many business centres and science parks actually count on the technological innovations making broadband better: their very survival depends on the advantages that are sometimes only accessible online.

Vsit http://www.broadbandvantage.co.uk/

Shop for sale in London: a great start

Jan 28th, 2014
by Tony.
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Shops to let in north London are just one of the excellent opportunities currently offered by commercial property London. One of the interesting things about a shop for sale in london is that this tends to provide a more stable form of investment than other kinds of property. There has been lots in the news about house prices stagnating, although this always has to be understood from a country-wide perspective. Overall, residential property is set for a rather brighter future in 2013 than it enjoyed in 2012. Some disappointing drops across England and Wales and in the north especially dragged average figures down, but in London residential property saw a 7 percent leap on last November’s prices. Prices across the city now average £365,000, with certain areas commanding much higher prices.

Residential property is just one sector. Office space forms a second kind of commercial property London, but the last few months and years have betrayed the volatility of this. At one point, not long after the crash of 2008, the cost of office space was down 40 percent – and about 50 percent in some areas. This was followed by a swift uptick, due to the dearth of new developments and the consequent bottleneck. Still, as many people lost out heavily as gained on the cheap prices, and much of the funds came from foreign investors who were in a position to snap up a bargain.

Retail space, by contrast, has been a lot more stable. Shops to rent in north London are a better long-term prospect, at least for those who are willing to put their money in and stick it out for at least a few years. Consequently a shop for sale in london might be a more promising prospect for a landlord looking to make an investment into commercial property London. Retail space tends to follow nominal GDP growth relatively closely, as might broadly be expected. Despite the ups and downs of a business cycle, this means that if you take a long view things should broadly continue upwards, and never dip too badly. Office space, on the other hand, is affected by other factors, including the development cycle. The volatility that this brings to the sector can be concerning for landlords, unless they plan to hold onto the property for decades. Naturally, as sales prices fall yields rise, so if you judge your timing well it can nevertheless be a lucrative market.

Please visit http://www.claridges-commercial.co.uk

Document management: the 21st century way to run an office

Nov 5th, 2011
by Louise.
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Although paperless offices are the ideal today, the reality is far from happening. A paper-free business should save time and money, bringing efficiencies as documents are accessible and, essentially, indestructible. Sadly, if the rest of the world hasn’t caught up to your ideals, you will be forced to use both systems: an awkward mixture of old and new. Document processing bridges this divide until everyone is on the same page (electronic or otherwise). It’s a method of turning paper documents into e-versions that can then be used like any other computer file. These can then be kept in a document management system, organising them so that they can be accessed by all of the appropriate staff. Similarly, invoice processing streamlines your accounts department, ensuring that you have a computer record of all paper invoices, and that no one gets left behind because they are holding onto old technologies.

The benefits of all this are significant. Where other companies and individuals use e-invoicing, you can send instant and secure requests for payments, and receive your money in the same way – without the need for tiresome and time-consuming paper invoices, which have a way of getting lost. When customers and suppliers send you invoices by snail mail, they can be converted to electronic form by the software, allowing you to treat them in the same way as e-invoices.
This process is particularly useful when it comes to invoicing and payments, since your organisation stands and falls on its cash-flow and reputation. No one likes it when invoices are lost or delayed, and this level of automation reduces those kinds of problems. Along with other, related software it can also address the problems of incorrect invoices, including duplicates or more fraudulent claims.

However, the use of these technologies goes beyond invoice processing. Document processing is also helpful for the day-to-day running of your business, since the efficiencies it brings lead to a smoother operation. document management means that you should never be held up by a letter or memo sitting on someone’s desk under a heap of paper. Similarly, documents can be used simultaneously by any number of staff without photocopying. That can transform meetings and business planning and allow your staff to do their jobs more easily and quickly. That has knock-on benefits for productivity. Whilst the genuinely paperless office is some way off, then, this suite of technologies has the ability to bridge the gap, making life a lot easier in the meantime.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

http://www.bottomline.co.uk/

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Advice on looking for commercial property London

Aug 12th, 2011
by Anna.
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There are plenty of shops to let in North London, but finding the right property can be a challenging business.  Anyone looking for a shop for sale in London should think long and hard about the right kind of property and deal to suit them.  You can work the commercial property london market to suit you by reading the following advice on how and when to invest.
Perhaps the majority of corporations looking for commercial property in London will opt for the renting option.  There may, however, be circumstances where buying commercial property would suit your business better.  Commercial property for sale in London can be best looked at in four principal sectors.  These are offices, which include both standard offices and business parks, retail, which incorporates shops, shopping centres, retail warehouses, department stores and supermarkets, and finally, properties used for industrial and leisure purposes.

Choosing business premises, rather than finding shops to let in North London, often necessitates the consideration of more factors than ordinary house purchases. If you are a small or new business without the money to buy a property, then renting is probably the best thing to do.  More sizeable businesses, or those that have formed a professional partnership, are likely to find that buying commercial property brings many benefits.  For those in this situation, buying commercial property London will give you the freedom to use the property, redesign, redecorate and make repairs, the guarantee of no rental increases or stipulations imposed by strict landlords, the ability to make a profit if the building gains value, and the opportunity to make some money by sub-letting part of the property, which will allow you to lessen your mortgage payments.  Furthermore, if you ever decide to move your business, you can let the property to receive further income.

Still, buying your own property can also bring disadvantages.  A significant amount of money is tied up when you commit to buying a property, and it may be that this could be better spent elsewhere in your business.  In addition, purchasing property takes up a significant amount of time, particularly if you need to make alterations or have building work done.  Being responsible for the safety of the building is not always a sensible way for business managers to use their time.
The commercial property london market is an exciting one; there are many spaces to be snapped up if you are savvy about the way you go about your search.  If you think seriously about buying a shop for sale in London there are many questions you ought to ask yourself, and the advisability of making a purchase rather than renting is likely to be at the top of your list.  Finding the shops to rent in North London to suit you should not be too difficult, as long as you know the demands of your business and the long term advantages and disadvantages of all the options.

Please visit http://www.claridges-commercial.co.uk for further information about this topic.

http://www.claridges-commercial.co.uk

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Bacs software makes accounts a lot easier

Mar 4th, 2011
by Anna.
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Bacs, or Bankers Automated Clearing System, has now been around since the late 1960s. It is the UK’s system of making electronic financial payments. Bacs payments mean that you can provide a department with your bank details – account number and sort code – and have money paid directly into your account. This clearly has numerous advantages. Speed is one of them – bacs takes place almost instantly in a lot of cases (although this depends a lot on the banks in questions – certain transfers between some banks can be extremely speedy, whereas others can take three working days, which is the standard time quoted in the industry). In any case, even the three-day limit is probably as fast, in many cases, as paying in cash or a cheque and waiting for it to clear. Convenience is another benefit – it decreases trips to the bank, and therefore leaves more time for other activities. Security is another obvious one; it stops the need to have large quantities of money on the premises, which might be a particular problem on payday. In the past, this would have meant that the entire company’s payroll was present – a clear risk. bacs software can therefore be a huge advantage for modern firms.

If you operate a small business – or anything larger – you will likely benefit from incorporating such bacs software into your accounts department. Automating invoice payments significantly simplifies the monthly (or more regular) task, since everything can be automated to the required degree. This means that you don’t have to do the job yourself. Even if you still use online banking, thereby avoiding the issues with writing lots of cheques or, worse, handing out physical cash, setting up and paying all the amounts can be a time-consuming process. It’s also likely to mean a lower degree of mistakes, and therefore less problem with duplicate payments, fraud and other issues than can reduce your profit margin through poor accounting procedures.

Bacs is fast and easy (SWIFT, a faster version, guarantees same-day payment, for a fee). Bacs payments have so many advantages that it’s worthwhile for any business to explore bacs software as an option for paying clients and suppliers. In the 21st century, cheques and cash are less and less common payment methods, and the future of the cheque itself is becoming increasingly uncertain. Simplicity, security and reliability are three reasons to look into the idea more closely, if you haven’t already.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

http://www.bottomline.co.uk/

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Business proposal writing: a vital skill in the modern world

Dec 9th, 2010
by Anna.
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business proposal writing is all about understanding the mindset of the company.  Many consultants think that they can write an effective proposal if they know a lot about the bid, but many people make the mistake of failing to give sufficient consideration to the client’s position.  If this is the case in your business, you may find that some expert bid support will give your business a real boost.  Similarly, many sales teams approach their presentations in the same way they have for years, and some small changes in their strategy might really show up in sales figures.  It can be tricky for teams to reinvent their strategies at the drop of a hat, and therefore a little sales presentation training might be just the thing you need.

Business proposal writing can be a stressful business; with hugely lucrative contracts at stake, the content of a business proposal might be the most important thing you write in a year.  If your entire team’s job security is dependent on the quality of your presentation, it certainly seems worth taking some advice on how to write a bid.  Perhaps the most important element of any bid is clarity, as clients who receive a large number of submissions will have limited time in which to take in several documents.  If you can help them by summarising the content of your document in 2-3 sentences at the beginning, your proposal will certainly have a head start.  This enables you to highlight the key strengths of your presentation at the outset, so that the reader knows what to look out for.  Nobody likes having to read a document more than once before they fully grasp what the writer is trying to convey, and by inserting a clear summary at the start, you can ensure that your document will not demand this kind of attention.

It is also a very good idea to include visual elements in your presentation as much as possible.  Logos, images, charts and graphs will greatly enhance the appeal of your document and make it much easier for the reader to understand.  Ploughing through pages of written text is not always conducive to engaging the reader and ensuring that they remember your proposal over the many others they have to read.

The best written proposal can fall flat if it is poorly delivered, which is why sales presentation training can be an extremely valuable investment.  If your business proposal writing is streamlined and your presentation style is original and effective, you should have few problems in securing the contracts that will make you the envy of your colleagues. Once start seeing the positive results, you may end up thinking that paying for bid support is priceless.

Please visit http://www.salesengine.co.uk/ for further information about this topic.

http://www.salesengine.co.uk/

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Document management systems are becoming more popular

Dec 7th, 2010
by Louise.
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Nowadays the importance of caring for the environment is the subject of a great number of extremely high-profile campaigns. document management and document processing are already enormously popular ways to lower the amount of paper which your office gets through each year and as a result help to sustain the globe’s forests.  Invoice processing is another important tool which is becoming more and more indispensable in offices around the world. The benefits of these management and processing systems, however, are not limited to saving the environment or reducing your carbon footprint. These systems can streamline your business and save you money. It is no wonder that they are highly recommended by lots of office managers.

Some of the most important work that is done in an office is accomplished through team-working and collaboration. A proper document management system can make this aspect of working life much easier and speedier. Documents that would previously have been stored on paper can now be edited very simply by multiple users and stored for easy retrieval. This process can free-up office space and allow staff to work more productively. It can also increase office morale because staff members feel their time is valued highly by their employer.

Invoice processing is increasingly used by top companies to coordinate their payments. This type of system uses intelligent data capture software to significantly speed up the processing of invoices. This is normally a time-consuming and boring job. Scanning invoices into a processing system allows them to be speedily distributed to the relevant member of the accounts department for approval. The shortened period of time in which invoices are processed enables businesses to improve their relationships with their suppliers and to take advantage of early-payment discounts.

This type of processing can also be useful for controlling and planning expenditure. It can help to remove human error from the payment process and security and auditing features can be added to the system. It frees up staff time to do more satisfying and interesting jobs to develop the business.

If your business isn’t currently using document processing or invoice processing systems they are well worth investigating. They can help to make your employees’ working days more productive, to reduce overheads and stationery costs, as well as helping to save the environment. document management systems are in use in many top businesses and have been for many years. They are simple and easy to use from the first and are a great way to improve a company’s efficiency and organisation.

Please visit http://www.bottomline.co.uk/ for further information about this topic.

http://www.bottomline.co.uk/

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How a rugged PC can offer your machine protection from the elements

Sep 29th, 2010
by Anna.
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Most computers tend to be fairly robust, but anyone who has ever spilt some water on their laptop or left it out in the sun for too long is likely to understand the need for a rugged pc.  Such machines are designed to be used in harsh natural environments, so they can withstand wet or dusty conditions, temperature extremes and strong vibrations.  Construction workers, military personnel or emergency services might all find themselves in need of a rugged embedded PC or a rugged transport PC – or, for indeed, anybody who has the need to protect their computer from the elements.

The best type of rugged PC is one that is specifically designed to be used in harsh  conditions, rather than adapted for the purpose.  The term ‘ruggedized’ is often used interchangeably with ‘hardened’, as these types of computers are similarly robust in design.  However, ‘hardened’ is generally used to describe computers that can withstand a bit more shock.

These computers come in various forms, including stand-alone bench or desktop units, laptops, PDAs, wearable systems, and designs specific to the given installation.  What is common to all these models is that their design features are those which provide extra protection against the kind of harsh environmental conditions which, if a typical machine was exposed to them, it would break.  Therefore, users can be fairly certain  that their ruggedized machine will withstand a fairly intensive battering from the elements.

Utility trucks and similar vehicles can pose problems for standard computers, because of the vibration and jolts that are inevitable.  Ruggedized laptops are made of magnesium alloy metals, which make them 20 times stronger than commercial laptops.  In addition, the hard drive of such a computer will be shock-mounted with foam or reinforcing material, so that it is as durable as the rest of the machine.  After all, it is hardly useful to have a super strength computer with a hard drive that cannot withstand being placed in a stressful situation.

A rugged embedded PC and a rugged transport PC will provide similarly comprehensive  protection from wind, rain,or any other natural aggressor that it might come into contact with.  For those whose job or lifestyle makes tough demands on their technological equipment, a rugged pc really is the only viable option.  The security of knowing that your computer will be safe, irrespective of the environmental conditions, is surely priceless, especially in a job with a high stress environment such as the military or the armed forces.

Please visit http://www.vision4ce.com/ for further information about this topic.

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Accounts payable audit can significantly reduce costs

Sep 4th, 2010
by Tony.
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Every big company with significant numbers of clients and employees will know that accounts can be complex and problematic. That’s why an accounts payable audit is necessary at least once a year. Such an audit will enable you to pinpoint any errors in your accounting processes, one of the most common – and costly – of which will be duplicate payments. These can be easy to make, often through simple human error. However, they can also be tricky to detect and address, and the longer the situation has been left, the harder it can be to rectify. Recovery audit software can make the process easier by automating it, leaving your staff to do what they do best.

One survey found that the impact of duplicate payments alone accounted for between 0.1 and 0.5 percent of company spending – not profit, spending, since these figures are about what is going out of your accounts. A company spending £50 million could easily expect to be losing £50,000, and very probably much more. And that’s just one type of overpayment. It’s likely that one in every thousand payments for your company is a duplicate. That all stacks up, and yet you may not notice it until a supplier lets you know – assuming they notice themselves, or want to tell you. And, of course, once a supplier goes out of business – not a rare thing in this economic climate – any chance of retrieving that overpayment goes out of the window.

Some businesses hire recovery auditors to do similar work for them. Whilst valuable in tracking down problems, these individuals charge expensive fees. It also places control for your accounts auditing outside your own company, rather than within your accounts department – surely a second best solution. Acquiring the right software can empower your own staff to find errors before they occur, and while there is still a good chance of fixing them.

These tend to be perennial and often costly problems. Recovery audit software can almost entirely eliminate the problems of duplicate payments, other overpayments and further accounting errors, from the simple human error side of things to the more subtle and sinister side of supplier fraud. It makes the yearly (if that) accounts payable audit process painless and easy, giving the initiative back to your own company rather than outside agencies.

Please visit http://www.fiscaltechnologies.com/ for further information about this topic.

http://www.fiscaltechnologies.com/

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