Guide from
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Managing a cloud-based practice: six steps to a better business
With an estimated 100,000 UK businesses now using online or cloud-based accounting
software, new technology is again revolutionising the accounting sector. Cloud-based
accounting solutions now offer mobile, always-on, instant-access financial tools, creating
new ways to work with your clients. They open new opportunities for improving practice
efficiencies, as well as offering clients additional valuable services – allowing you to
become a virtual finance director and a trusted adviser.
But once your practice had made the initial move to the cloud, how do you then manage
and review the new systems and tools you have in place? How do you make sure that
they’re efficient and truly paying for themselves?
In this short guide, we’ll run you through the importance of using smart technology, while
also being mindful about how you use it. We’ll also look at how you review and measure
the effectiveness of your software choices – and how to get the best out of your own
practice’s processes.
By following our six-point guide you’ll get the most out of your cloud-based practice:
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Step 1 – make the right choices
Step 2 – think about your processes
Step 3 – evaluate and update your systems
Step 4 – fix what bothers you
Step 5 – create a positive feeling of engagement
Step 6 – be smart about technology
Step 1 – make the right choices
When you’re adopting new technology for your practice, you need to be clear about your
objectives. This means considering your software choices carefully. Using technology for
technology’s sake is not an option; these tools need to work well, provide solutions and
really add the intended value.
It’s also worth looking at how your peers and competitors have implemented new systems.
How have they harnessed new technology to make their practice more successful? What
can you learn from their choices? Ultimately, though, every system is different, so you’ll
need to choose applications that really work for your practice and business model.
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Start by thinking about what outcome you’re aiming for. A good way to do this is to think
about the initial business problem you’re trying to solve:
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What’s the problem?
Could software resolve this by introducing a more streamlined process?
What specific software is most suited to creating a solution?
Step 2 – think about your processes
So, you’ve identified the business problem and you’ve thought about how a software
solution might resolve the issue. At this point you’ll need to think about how the technology
will fit into your existing processes.
You’ll need to take a step back and really take an objective view of the procedures you
currently have in place. Asking the right questions at this point will really highlight how
effective your current processes are:
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Is there a particular reason why the process has always been done this way?
Is there any justification for continuing to do it this way?
Is the process efficient?
Are there alternatives that would add more value?
You certainly don’t want to justify the question ‘Why do we do it this way?’ with the answer
‘Because we always have’. The software you adopt, and the process you have in place to
use it, needs to create true efficiency. If it doesn’t add value, why are you using it?
This is why thinking about your end goal is so important. If you have a clear view of what
success looks like, you’re far more likely to make the right choices for your cloud-based
systems.
The instant, mobile access that a cloud accounting system offers turns this desire for realtime information into a reality. And it solves the problem of being tied to a desktop system
that only works when you’re at the office – freeing you up to really focus on your client
relationships.
Step 3 – evaluate and update your systems
You now have your new online systems in place and the rest of the practice is using these
new tools to work with clients. At this point you’ll need to start evaluating how well these
systems and internal processes are working.
You’ll need to think about how you manage:
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Productivity Is work being completed with less chargeable time? Are you getting
quicker and more efficient? Does this mean you’ve got the resources to take on
more work? Are you making money on jobs that were previously at budget or a
loss?
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Workflow Is the process efficient? How many people are involved in delivering
the final completed work? Are you having too much or too little interaction with
your clients?
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Employee engagement How are your staff getting to grips with the new
systems? Do your people like the new way of working? What’s their overall
opinion of the software?
Trace a process from start to finish; look at something like your billing of clients, for
example. How much time and resource is spent? Is it efficient? How many times do things
go backwards and forwards between you and your client? Could this be simplified and
updated?
These are good ways to challenge and evaluate the performance of a new way of working.
And, where there are obvious solutions, you can update your procedures and processes to
improve areas such as productivity and efficiency.
Another area to consider is contingency planning; you’ll need to have a plan in place if
access to your systems is lost, for whatever reason. What support would you get from your
internet service provider if there was a serious outage? How reliable is your hardware and
how long would it take to replace or repair? How quickly could you switch to a back-up
system?
These are questions that need some watertight answers as part of your evaluation
process.
Step 4 – fix what bothers you
There will be issues that you spot as part of the evaluation process. If something bothers
you, think back to the outcome you’re aiming for. How can you fix the problem to achieve
your intended goal? By looking back at your original goal, you can follow the process back
and fix the areas that aren’t performing.
Breaking big problems down into smaller chunks makes them less daunting and more
manageable. Split the big challenges down into clear, concise actions and then work on
those. This will help progress to be made and will help push you forward.
Not only does this bring you closer to fixing your problem, but it also has a big positive
impact on employee engagement – a vital component for success, as we’ll see in the next
step.
Step 5 – create a positive feeling of engagement
Training is crucial if you’re going to engage your people. Offering full, in-depth training
sessions on the new systems will help to get staff on board and will iron out any potential
issues and problems at an early stage.
If your people can see that these issues are being looked at and dealt with, this creates a
far more positive internal view of the new software.
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You don’t want a potentially useful application to fail simply because there’s no buy-in from
the people using it. Training, positive messaging and good communication around any
new system are absolutely vital elements. Ultimately, any system is only as good as the
people who are using it, so engagement is a crucial area to manage well.
Training and communicating updates about changes to your systems will be an ongoing
process. Over time, your systems will go through software updates, changes to features
and add-ons, and revisions to applications.
You’ll need to make sure that everyone in the practice knows about these changes and
updates; clear internal communications and hands-on training in any new features or
systems will help to keep engagement levels high.
Step 6 – be smart about technology
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Does it add value?
Does it solve a problem?
Smart technology offers so many benefits for a practice that makes the most of its
features. But you also need to be smart about which technology you use.
Here’s an example of this smart approach:
A small office of four people doesn’t need an internal social networking platform; a large
global company with 2,000 employee does. Forcing a small group of people who all sit in
the same room to take their ‘water-cooler moment’ online defeats the object of a social
tool; they’re already being social. The global business needs that tool to connect a network
of people who are spread geographically across the globe.
Think about how the technology will help you work more effectively, both with your clients
and your internal processes.
Six steps to a beautifully managed cloud practice
Moving your practice to a cloud-based system has many business benefits. For example,
the flexibility of cloud accounting can turn value-based services into real drivers of
revenue.
But keeping on top of the available technology and really being smart about your software
choices is also part of managing the effectiveness of your business.
To recap, by following our six-point plan for managing your cloud practice, you’ll improve
your processes while increasing your productivity and creating additional value-driven
opportunities with your clients.
Step 1 – make the right choices
Be clear about your objectives. Choose your software carefully. Don’t use technology for
technology’s sake; you need solutions that really add the intended value.
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Step 2 – think about your processes
Make sure that new applications fit into, and add value to, your existing processes. If
necessary, change your processes to make them more efficient.
Step 3 – evaluate and update your systems
Once they’re in place, how productive and effective are the new applications? Evaluate
and measure how well they’re working and whether they are delivering the right outcome.
Put together a contingency plan for outages.
Step 4 – fix what bothers you
If something bothers you and doesn’t work well, fix it. Think back to the original outcome
and amend the areas that need fixing to achieve your goals.
Step 5 – create a positive feeling of engagement
Train your people to use the new systems. Talk to your staff about their experiences with
the systems. Keep them in the loop and preserve that positive engagement.
Step 6 – be smart about technology
Be sure that you’re making the right technology choices. Ask whether the applications add
the intended value and solve the specific problem you need to fix.
ACCA LEGAL NOTICE
This is a basic guide prepared by ACCA's Technical Advisory Service for members. It should not be used as
a definitive guide, since individual circumstances may vary. Specific advice should be obtained, where
necessary.
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