The start of a new year is the time for many of us to make personal resolutions we know we’re not likely to keep. But it’s also a great time to make resolutions for your small business that, if kept, will make you more successful. Ready to start 2020 off with a bang? Consider these four resolutions.
Regularly review key financial information.
To ensure the success and growth of your business, you need an accurate financial picture. Committing to frequent, regular review of important financial indicators will keep you on top of your revenue and expenses, and alert you to any potential issues so that you can address them more quickly.
A common barrier to keeping this resolution is reliance on cumbersome manual reports and outdated information. A cloud-based accounting solution like Sage Intacct gives you access to accurate, real-time data and allows you to customize the reports and dashboards you need to gain a clear view of your finances.
Create a business plan.
Like many small business owners, you may be so busy running your business that you haven’t had time to develop a plan for the future. And developing a plan may feel like an overwhelming task, especially if you don’t have ready access to all the information you need. But a good business plan – one that includes a realistic budget – is critical to growing your small business.
Today’s wide range of technology options makes it easier than ever to develop a business plan and a budget. A cloud-based budgeting and planning solution makes it easy to access accurate data and streamlines the planning process so that it’s less daunting to create a plan for your success.
Make strategic, data-driven decisions.
Too often, small business owners make important decisions based solely on gut instincts or hunches. While good instincts are important, they shouldn’t be the primary factor in your decision-making process. You should be making key decisions based on current, actionable data.
Automated accounting solutions can provide you the power you need to make better business decisions. They eliminate data silos by integrating with your other critical business systems and providing you with a single source of financial truth. Everyone in your organization can operate from the same set of information and assumptions.
Go mobile with your accounting.
When you run your own business, it can be hard to find office time to handle tasks like tracking costs and reviewing financial reports. Plus, you’d much rather be taking care of your customers and growing your business. Make 2020 the year that you take your finances on the go with you with mobile tools.
Sage Intacct’s cloud-based technology means you have access to your financial information whenever you need it, wherever you are. You – and your employees – have the flexibility to handle accounting and other financial tasks at your convenience rather than being tied to your office.
MicroAccounting can make it easy for your small business to keep your New Year’s resolutions with Sage Intacct and other solutions. Call us today at 855-876-3773 or email us at firstname.lastname@example.org to find out more.