According to PwC’s 2018 CEO Survey, 88% of respondents feel optimistic about their company’s outlook for the year ahead, demonstrating that businesses throughout the UK are feeling positive about their prospects for business growth. We’re sure you’ll agree that such positivity is key in business building, however it’s important to pinpoint common problems experienced by many up-on their journey to success.
Ambition is an important driver in any business, particularly for entrepreneurs and business build-ers alike who aspire to grow. But even with the loftiest of ambitions to broaden your business, ob-stacles can step in the way and halter your path to business growth. Whether it’s a mere bump in the road or more a hefty sinkhole, you will need to have clear strategies in place to overcome the inevitable challenges that lie ahead.
Here we discuss the challenges that linger for even the most ambitious of entrepreneurs and how using Sage 200 Business Cloud can help overcome common challenges faced by business owners looking to scale their enterprises.
• Scalability & Planning Ahead
When your business grows, your requirements alter. The good news is Sage 200 Business Cloud is all you need for taking care of your business, with scalable software that grows with your business, no matter how fast. So, for those focused on business growth, Sage helps to facilitate day-to-day activities with supercharged features and functionalities to help unlock your potential.
Sage 200 Business Cloud allows you to keep your edge with complete control of growth and cash control, it’s designed to manage your finances, customers, and business insight with in one simplis-tic solution, making it the ideal solution for fast-growing and agile businesses.
• Fast Track your Financial Management
Sage 200 Business Cloud is effectively accounting software. It removes tedious and repetitive tasks such as re-typing bank payments by connecting to Sage 200 Business Cloud with your bank ac-count.
With such fast-track functionality aids, you’re able to save yourself valuable time so you can focus on the things that really matter.
With Sage 200 Business Cloud, you’re able to respond quickly to opportunities with the necessary insight you need, on the go, enabling your business to be more efficient, increase profit and speed up growth.
• Decision Making & Problem Solving
Often, entrepreneurship is something only associated with people who embark on new business-es and who take big risks, yet the term entrepreneurship equally applies to larger, more estab-lished companies too. And not just to a single person, but also to a team of people.
Developing new ideas and making a mark in your chosen industry aren’t simply things achieved by start-ups, so it’s important to encourage entrepreneurship to develop new ideas within larger businesses too.
The cloud makes it possible for all employees to gain the same information and therefore the same opportunities to create and innovate. The possibility of having 24-7 access to real-time data is very much a reality thanks to the cloud.
By having such pivotal and crucial insight at the mere touch of a button, particularly with mobile access, employees can benefit from more accurate planning and forecasting, thereby encouraging ideas and decision making as a team.
• Selecting the Right Systems
All businesses produce and rely on large volumes of information, from financial records to custom-er interactions and business contacts, to employee details not to mention regulatory require-ments.
With such a wide scope of data and detail to house, and the pressure that comes with using such information effectively, there can be too much to keep track of without the right systems. But with Microsoft Office 365 connected to Sage 200 Business Cloud, your sales team can work with your service and financial teams back in the office.
Access to customer account information straight from Outlook, gives your business the insight and power to grow and expand, working anytime, anywhere and ultimately enhancing your efficiency.
• Retaining Talented Employees
A common challenge for many growing businesses is the ability to retain skilled staff. But becoming an employer of choice is based upon many different factors, from company values to flexible working hours, and benefits packages to remuneration reviews.
No-one said retaining the best employees was easy but with Microsoft Office 365 connected to Sage 200 Business Cloud, you can provide better levels of flexibility amongst your workforce by allowing employees to work from anywhere, at any time.
Each one of your employees has a different set of criteria, so what pleases one may not satisfy an-other, for instance what a 35-year-old female HR manager wants is going to vary greatly to the needs of a 22-year-old male sales executive.
This is where providing choice becomes important. Understanding what’s important to your em-ployees and providing a remuneration package tailored towards their individual needs can assist greatly in retaining each one of them.
• Compliance Control
Despite the government’s clampdown on so-called “disguised employment” and confusion over the IR35, new and existing companies continue to blossom. Keeping up with the latest legislation can prove to be an on-going challenge for many, but thanks to new software, it needn’t be.
Keeping one step ahead of global and local compliance is now easier than ever before. With Sage 200 Business Cloud, you can create a single global policy for your company, whilst remaining com-pliant with local in-country regulations at the same time.
How M2M Can Help…
Sage 200 Business Cloud will help you take care of your numbers, accounts and so much more. If you’re looking to grow your business faster, M2M can help you implement your chosen Sage soft-ware. We are always on hand to provide advice and support to our customers and happy to help as and when your business needs change.