Cloud solutions continue to increase

Cloud solutions are being adopted by more and more companies as online platforms become a more viable proposition for reducing costs. According to data from IT research company Gartner, 80% of companies indicated that they intend to use cloud solutions within the next 12 months. This comes in spite of the fact that 55% of those companies currently have no cloud platforms in place, highlighting the rush to implement cloud solutions. As a result, providers are rushing to meet demand, meaning business is booming despite some concerns over the risks to business operations of adopting cloud. Ensuring security is vital for most businesses that are keen to make sure their data and key information is not easily accessible. Gartner also revealed that only a small ...

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What is the key to successful and efficient online invoicing?

The way that the internet has impacted on all types of business means that many day to day tasks and operations are now quite easily undertaken online.   For many simple business tasks such as invoicing, email has replaced physical post deliveries almost entirely as the immediacy not only cuts out potential delays but also any associated high volume postal costs are also negated.   Of course, invoicing is only one aspect of the finances of running a business that can be simplified and streamlined by using online services. Today's 'cloud' approach means that the whole concept of commercial financial management has undergone nothing short of a revolution.   Efficiency   The traditional image of 'shoe box finance', where a mixture of paperwork including invoices, receipts and bank ...

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How could the use of cloud computing save my company money in the long run?

One of the major buzzword phrases in the world of business over the past few years has been 'the cloud', but what exactly does it mean and can it save your company money?   Essentially, most of the major software and service providers are moving towards using a 'cloud' model, so at some point one or more of your business practices will encounter an option to change from local device storage to a remote, server-based system.   The concept of 'the cloud' aims to take full advantage of the high data transmission speeds of modern internet connections and to store information on internet-based central servers.   One way in which using cloud services can save a business money is on the outlay needed for computing equipment. ...

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Why is it so important to have a strong grasp of social media in the modern business world?

Social media continues to go from strength to strength, thanks in part to its massive use in businesses to help drive them forward. It is great as a base from which to launch marketing campaigns, as it is possible to gain very rapid exposure thanks to the thousands of people who constantly browse the sites. As a result it becomes a great tool for bringing products to market in a wide range of varying advertisements all designed to target a specific sector of a target audience. But using social media is not just about marketing, as it is also great for building up a business's client base and creating a reputation as a highly reputable company. For small businesses, this offers an easy means ...

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Should the government be encouraging SMEs to invest more in IT equipment?

SMEs are benefitting from government schemes to provide greater levels of finance through the banks, opening up plenty of opportunities. The latest figures show that lending through the Enterprise Finance Guarantee scheme reached £84 million in the second quarter, the highest figures since March 2011. The EFG is a demand-led scheme which allows banks to lend to SMEs who would not otherwise receive credit, by providing the banks with a government guarantee for 75% of the loan value. Increases in EFG lending showcase the efforts of small companies to invest and grow, it also acts as a wider indication of economic growth. Finance is the driving force of any business as it would be impossible to support growth without the necessary cash. However, IT equipment ...

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The importance of a modern-day business being as tech-savvy as possible

The world is driven by technology in the modern era and implementing as many systems as possible is vital to getting the most out of a business. From simplifying tasks to improving organisation and capability, having better systems in place can improve the efficiency of the company. Embracing technology is the first step, while implementing it follows close behind if a company is to enjoy the full benefits that it can offer. With the economy still reeling from the effects of the recession, cost-cutting measures are in place across all businesses on varying scales. Fundamental to business success Technology is fundamental to ensuring these measures are successful as they can measure the extent to which they are working and highlight any measures which are failing ...

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What is the value of online software for SMEs in the modern business world?

Software for businesses is designed to help them to run their operations more effectively, cut costs and replace paper processes. As businesses continue to expand and embrace technology, the related software is quickly becoming an important cog that keeps the development in motion. Increasingly important role Increasingly, software is being seen as vital to the IT infrastructure of business, determining the way it is both run and managed. When these processes are done on small scales, as exists in SMEs, there is a need to ensure they are all done efficiently and accurately, as extra technological support often comes at a price. Online software provides plenty of new options to a business, as web-based applications can develop means of communication, measure office productivity and ensure ...

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The secret to effective online book-keeping

Organising finances is a vital task in the running of any business, as it is important to know exactly where funding is being used and on what.   Having a clear system makes this task considerably easier while moves towards online book-keeping continue to push the boundaries of what can be achieved.   As a result, focus can switch to other aspects of business and companies can focus on improving brands and the products or services that they provide.   Understanding book-keeping   When the data is organised in a better fashion it can be understood and incorporated into business plans to drive business forwards.   On top of this, online book-keeping decreases the risks associated with late submissions as all details should be kept more up to date than ...

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PAYE Real Time Information

HMRC PAYE Real Time Information (RTI) continues to go well with over 1.6 million PAYE schemes successfully reporting PAYE information in real time. Following feedback from stakeholders, we would seek to extend the reporting relaxation for smaller businesses to 5th April 2014 to tie in with the full tax year.   We can now confirm that the reporting extension has now been agreed and this relaxation will remain in place until 5th April 2014.  Under this relaxation, employers with fewer than 50 employees who pay their employees monthly or more frequently are still required to report through the new system, but are able to do so once a month (but no later than the end of the tax month (5th), rather than ...

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What is the most important way in which cloud computing could assist a busy accountancy firm?

  Cloud is enabling more information than ever before to be available to those that need it, meaning certain sectors are seeing far-reaching benefits. One such sector is that of accounting, as the introduction of cloud has developed it to such an extent that some areas are now unrecognisable to how they were before. A move towards digital accounting has gone hand in hand with appeals to save the planet and make the sector paperless. Not only does it save on printing and paper costs but it allows business accountancy firms to be constantly aware of the financial situation and respond immediately to any issues. Improved workflow and structure New workflows that digitalise information as soon as it comes to the firm means simple analysis ...

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