5 things you didn’t know your accountant could do
Guest blog: Chris Charlton, Charltons Accountants
The role of accountants is changing every day. Over the past 10 years, we’ve seen technological and business movements change the landscape of financial management, affecting the way we help our clients in a hundred different ways. One thing that’s always remained true however, is that accountants hold an important place at the heart of most businesses.
Beyond the work of managing taxation, finances and cashflow for our clients, our place is as partners and advisors. By working closely with the day to day incomings and outgoings of our clients, we are tapped into their operations like nobody else. This puts us in the perfect position to offer strategic advice and stand as the gatekeepers to a wealth of knowledge and connections that can help any business succeed.
Some of the ways that we help our clients take them by surprise – the services that are offered by accountants who truly operate as partners with their clients, working alongside them, can be incredible!
- We can help you plan for growth
Establishing a business is all well and good – if you can find customers who need and want what you’re offering, you are on your way to success. But there’s a lot more to it than that; at the beginning of your journey, you need to be planning for your business to grow, laying the financial and structural groundwork that can support the long term future of your company. Accountants, with an innate knowledge of what businesses of every size need to maintain in order to expand, are the key source of expertise as you lay your foundations.
- We can help you revolutionise your business
Technology changes constantly. Accountants have seen that more than most industries, as our workflows have moved from calculators to spreadsheets to fully cloud based integrated systems like Xero and MYOB Cloud. These days, every business is faced with the opportunities and challenges of technology. The rate of improvement and development is staggering, and keeping up with it can be difficult. Through our understanding of what your business can save through automation and software, as well as the costs of implementation and future-proofing, accountants can help you stay on top of the right tech for your business.
- We can identify problems in your business
It can be easy to miss the problems in your own business – or even, ignore them. When there are small issues that go unsolved in a business, they can grow into major problems very quickly. These can be related to staff performance, product design and management or marketing, but sooner or later – most problems will show up in the numbers that we carefully examine. Through recognising where income, profit and loss are concentrated or bottle-necked, accountants can help you find the fractures within your organisation before they turn into full blown cracks.
- We can make the right connections
Accountants are the gatekeepers for professional services. As our expertise extends throughout every industry, across organisations of every size, we have connections that most businesses could only dream of. Our ability to introduce and connect businesses and founders has seen us help hundreds of companies discover new opportunities and industries!
- We can help you scale
Lastly, the most important service that accountants can offer. This is the hardest journey that any business owner could ever face – scaling their business. At its core, scaling is finding a way to provide the same products services to an infinitely increasing number of customers. Scaling incorrectly can destroy a company and its founders. You have to manage technological, personnel and financial capacity, cashflow and funding. With a clear understanding of every cost associated with your current offerings, accountants can project exactly what you’ll need to do and manage in order to scale effectively! We can also help you to find and acquire the funding and financial backing you’ll need to succeed.
The right accountants are prepared to offer these services, and have a wealth of experience to go with them. As partners and advisors, trusted with guiding and advising your business, a proactive and strategic accountant could be the most important investment in your future!
This is the first edition of Spotcap Specialists – a content series which features advice and tips from experts in a range of fields to support small business growth.
This post was written by Chris Charlton, Managing Director, of Charltons. Chris is a Chartered Accountant and Certified Tax Advisor and has been Charltons’ visionary and leader for over 35 years. A hands-on approach to clients’ tax affairs to ascertain and negotiate the best tax outcomes was the driving force in establishing a reputation for problem solving and proactive counsel.