4 Time-saving strategies for you and your firm

We’ve all heard it: Time is money. 

This proves true in the accounting industry as much as any other. While it is great to be busy, it can be a sign that you need to re-evaluate your day-to-day work for areas that can be streamlined. Evaluation can be most needed when your firm struggles to identify room for the ability to be proactive.

The 4 steps below will provide suggestions on how your firm can streamline processes without losing the ability to be accurate and precise:

1. Prioritize.

When your plate is full with various duties throughout the day, week or month, be sure to take the time to organize high and low priorities. With large responsibilities, break them down into actionable items that can be completed in manageable intervals. This will lessen the stress of having lingering tasks, as you will be accomplishing items off your firm’s to-do list. 

2. Determine your time management pitfalls.

When the end of the day comes, do you wonder where the time went? To better solve these mysteries, download apps and Google extensions, similar to RescueTime, which will provide an analysis of your productivity. The technology will analyze wasted time and provide solutions for time management moving forward. If you find yourself browsing online while waiting for an important email, blocking certain websites can also help to ensure that the firm’s time is used most efficiently. 

According to a study by the Bay Street Group, 22 percent of accountants are frequently distracted while working. In addition, 34 percent are often distracted, and an additional 34 percent are sometimes distracted in their work (How CPAs Juggle Distractions to Focus on Work). Take time to schedule your activities and determine each morning what the entirety of your day will look like to eliminate potential pitfalls (Robert Half).

63% of managers believe the pace of technological change in their firms is too slow

3. Automate. Automate. Automate.

While automation can bring challenges, it is crucial to stay up-to-date with the current technological developments. New technologies can provide your firm opportunities to reach clients faster and provide more accurate, reliable data entry. 63% of managers believe the pace of technological change in their firms is too slow, referencing a “lack of urgency” to become comfortable with new technology (MIT). Begin looking for technology that will automate these tasks. 

For example, ProfitCents was made to provide this solution – a Sageworks solution that streamlines preliminary analysis, increasing consistency, saving time and reducing risk with automated workflow and online document management that can revolutionize your productivity benchmarks. In addition, Sageworks recently released an eBook, Tech Roadmap: Selecting the Ideal Solutions to Thrive in Business Advising, featuring advice from 11 industry experts advice on how to invest in technology solutions that work best for your firm.

4. Promote a culture of rewards.

Rewards can come in many forms. According to the Huffington Post, 5 Science-Backed Ways Taking a Break Boosts Our Productivity, one recess per hour boosts overall productivity. Breaks can provide a variety of creative fuel that allows for a newfound sense of purpose and energy for the task at hand. These sacrifices in time can prove to be more beneficial to accomplishing tasks when compared to working nonstop (AccountingWeb). Provide your employees with a sense of control and they will be more likely to work proactively. 

The use of these four steps in unison can provide a daily boost in productivity and overall increased effectiveness in whatever role you play. If this happens to be one of your well-earned breaks – test your current level of productivity on this quiz to see where to improve.

Additional Resources

eBook: Tech Roadmap: Selecting the Ideal Solutions to Thrive in Business Advising

Whitepaper: How technology is changing the way firms operate

About ProfitCents

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