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Comerford Foley – About Us
Over 30 years experience in helping SMEs to grow and add profit to their bottom line!
We take the stress and worry out of the books!
A new way of thinking –
making your life easier!
Existing Accountancy Model……
Mr Murphy……your accounts are finished. You owe the tax man €200,000!!!!!
Our Invoice is in the post!
Are Revenue watching me?
Am I compliant?
I really don’t understand my
business or my finances
I worry about the
future, my business
model and profitability
I am fed up of sleepless
nights!
Revenue……no issues, no worries!
What I want…..
I am confident I know my business!
What I want…..
The future for my business is planned and is in GOOD
hands…..
What I want…..
I sleep well……and there’s money in the bank!
The dream….
Why pay attention to Technology to help boost your profits?
Live Information
• Profitable or not?• No surprises• Monitor KPI’s• Focus on profitable areas• Debtors recoverability• Good for Cashflow
Good Business Decisions
• Solid data• True margins and profits• Minimise inefficiencies• Innovation…..fail fast!• Production costs• Overhead costs
Plan for the future
• Return on investment• Cashflow and financing• Retirement• Succession• Tax considerations• Planning for exit or sale
The Options
• Cloud Accounting– Xero– Sage One– Kashflow– Quickbooks
• Existing Software– Excel – an under utilised resource!
The Options
• Other Solutions– Desktop solution, excel based etc.– EPOS – Key for retail! – Non financial – CRM, Sweet Process etc. All can
add to the efficiency of the business
• The message– It doesn’t have to have bells & whistles.
What can technology do? (some examples)
• Automatic upload of bank statements• Take a photo of receipts – ends up in your
accounts!• Debtors collection or invoicing from your phone• Check your accounting position anywhere anytime• Integrate your EPOS with your accounting system
– gives details of sales by product, by day by time etc.
Why Cloud?
• Time saving• Reduced upfront costs• Access anytime, anywhere• No upgrades or maintenance• Develop relationship with your adviser• Cashflow – Invoicing, debtors collection• Reporting – data analysis• KPI’s – week on week, allows easy drill into the
numbers, detailed analysis of the business performance
How?
Talk to us
How?
- Review your existing financial reporting structure
- Ensure you have a process to review the business performance on a weekly basis
How?
- If you don’t have a system you are probably throwing away money by not monitoring performance (even if profitable!)
- Develop the KPI’s relevant to your business regardless of the size of your business
- Don’t panic – doesn’t have to be expensive, doesn’t have to be complicated and we will help
Next steps?
It’s in your hands……….take control of your business!
Questions?
