Why Entrepreneurs Succeed with a Better Financial System Design
Two Types of Financial System Design are Needed For Businesses to Succeed
There are really two types of financial system design:
- Processes and procedures that produce useful information for decision making (bookkeeping and financial information systems)
- Processes and procedures that utilize the information generated (management).
Why think about these separately?
Systems are the heart of successful businesses that scale. To truly grow a business, entrepreneurs need to approach everything possible in their business with the goal of having a scalable, replicable system (including their own tasks!). Even when you love your work, to significantly grow revenues you must make everything scalable, replicable and repeatable.
Financial System Designs - Create Two
So to grow your business,
- Make a system to allow your bookkeeping processes and procedures to always produce useful information (that’s timely, accurate, and complete) at any stage of growth.
- In addition, make a system to use this information efficiently and effectively.
In fact, when you create any system for business processes, whether you are considering sales strategies, marketing, sourcing products, or even hiring a sales force, you’ve found the secret to a healthy business: creating a successful system for every ongoing business process.
As a bonus, making everything replicable and scalable gives the owner some much needed family and vacation time- and even makes an exit plan possible. That’s a win!
Financial System Design in your Bookkeeping and Financial Information System
Many business owners are not also accountants, which can create many short and long-term problems when setting up their QuickBooks software for the first time.
We’ve found that many business owners simply find the standard QuickBooks processes burdensome, or don’t have time to research how to set up the system optimally. Others get some of the information that they need for managing their business, but don’t really get to use QuickBooks to its full potential.
Many entrepreneurs are generally unfamiliar with:
- QuickBooks software
- Bookkeeping procedures and best practices
- QuickBooks methodology for specific industries or business information needs
- Other software that complements QuickBooks to make the process more efficient
Dash-Books and QuickBooks
There are many ways to get information in and out of QuickBooks, and some are simply better than others. At Dash-Books, our experience removes the guesswork from setting up your QuickBooks accounts- we know what information to collect, and why. We also understand how it flows through your QuickBooks software, so you’ll always have the right type of information for management reporting. Now, you can make decisions with confidence.
You’ll know you’re getting everything you can out of your financial system design within QuickBooks, because before we implement our proven system and technology into your company, we take time to get to know your business first.
Whether you are new to QuickBooks or have been using it already, during the on-boarding process, your Dash-Books team reviews your QuickBooks software and makes any changes needed to ensure you have access to the information your unique business needs to thrive. We also review the processes that get the information into QuickBooks, and streamline them.
Secure Financial System Design in the Cloud
Your financial systems and needed software are connected into an efficient workflow process, often becoming paperless, and is a virtual system that rests securely in the cloud. This means your information is available whenever you need it, wherever in the world you are. Approvals can be done electronically from anywhere with an internet connection, without the traditional delays in processing and record keeping.
Our expertise with Quick-Books allows us to better utilize its advanced functions and enhance it with proven third-party tools that take its capabilities to an advanced level, while simplifying the process of using it. We are always seeking and evaluating the newest technology related to bookkeeping, so you won’t have to.
When you partner with Dash-Books for your bookkeeping and business management information needs, during the on-boarding process you get a proven system for creating accurate, useful, and complete business information. Now, you have the power for superior decision making.
Financial System Design in Your Business Management Process Using Dash-Books
How will you use this critical information? As a new Dash-Books client, your dedicated Fractional CFO collaborates with you to create a financial system design to use your business information to its full advantage. Your Fractional CFO meets with you regularly, supporting you with insights into the information generated, which improves shorter-term business management. Your time with your Fractional CFO also gives you a sounding board and trusted business advisor who helps you to step back and consider implications and opportunities for long-term strategic planning.
As your business consultant and financial expert, your Dash-Books Fractional CFO helps you keep your eye on the big picture, and understand how to drill down to important details so you can execute plans. Learn more about what to expect when working with a Dash-Books Fractional CFO.
Optimized Business Intelligence Paves the Way to Growth
What does optimizing two financial system designs do for our clients? We’ve found that Dash-Books clients enjoy better control of finances overall by:
- Lowering costs of information
- Automating workflows
- Leveraging technology
- Measuring Key Performance Indicators (KPIs)
- Focusing on core competencies
Financial System Design with Dash-Books
Proven Financial Systems are Ready
Our proven financial system designs are ready to use. Are you ready for Dash-Books?
Sometimes as entrepreneurs we believe our business isn’t the “right size” for certain services. We know, because we’re entrepreneurs, too.
That’s why we’ve created different service levels at Dash-Books, so that no matter what stage you’re in as a small to mid-size company (yes, we love to focus too!), we can help. At Dash-Books, we’ve taken the guesswork out of financial systems design, and we can take the guesswork out of decision making. We love helping our fellow entrepreneurs focus on the businesses they love.
Contact us today to find out more about our services.