Go Digital How can technology improve the way

Go Digital: How can technology improve the way you run your Business?

Whittingham Riddell have four offices across Shropshire and mid-Wales with almost 200 staff supported by our specialist digital solutions team. 2 Andrew Richardson arichardson@wrllp. co. uk Sally Fisher sjf@wrllp. co. uk Katie Edwards ke@wrllp. co. uk Tom Manford tm@wrllp. co. uk Technology is changing the way we work!

What do we mean by technology? Smart phones, tablets and laptop computers – used everyday Digitalisation of software Automation Artificial Intelligence

How technology can help… Improves efficiency Automates processes Information is available 24/7, accessible from anywhere Provides up to date information ‘at the click of a button’ Assists with compliance

We first need to understand the measures that matter 1 Where are you now? 2 What are your business goals? 3 How are you going to get there?

How setting targets drives your business performance Set a long term vision for the business Define your goals and set clearly defined monthly targets Monitor actual performance compared to targets using real time data Focus on improving results using up to date data to identify any shortfalls

Understand the information should you monitor £ Cashflow Profitability Actual vs budget Debtor days Monthly growth Income per client/job Income per staff member

Examples and case studies 3 How are you going to get there? are your goals? arebusiness you Prepare 2 a forecast Are thenow? goals achievable? 1 What. Where Automate credit control Turnover KPI dashboard £ 200 k Monthly report pack £ 500 k Reduce debtor days Improve cash flow In 5 years Debtor days Net Profit Debtor days Monitor key KPI’s Net Profit 46 10% Look at up to date information 20 20% Monitor actual performance to forecast

Live dashboards

Quick view of daily, weekly, monthly cash flow

Automate credit control • Use the system to automatically chase outstanding debts using predefined email templates • Automatically send customer statements • Record the promised payment date • Mark invoices as in dispute or requiring follow up

Scenario planning Use AI driven software to easily see how changes to your business will affect your forecasted profitability and cash position Do you need to finance a new asset and can the business afford it? Can the business afford to employ more staff? What if cost of sales increase by 5%? Or 10%? What if you are forced to reduce your sale prices to remain competitive? What if turnover decreases or increases? www. whittinghamriddell. co. uk www. whittinghamiddell. co. uk Chartered Accountants & Business Advisors

Easy to run financial reports

Practical steps Take a step back and consider your business strategy 1 2 Are you where you want to be? 3 Are you experiencing any challenges where technology could help?

Find out more at our workshop at 3 pm or come and visit our stand Download a copy of our presentation using the QR code or visit www. whittinghamriddell. co. uk/bizfest www. whittinghamriddell. co. uk www. whittinghamiddell. co. uk Chartered Accountants & Business Advisors