​Accounting and bookkeeping is nowhere near the top of this list in terms of enjoyment factor.

A solution that many small businesses are starting to use is online accounting software. These applications make the process of calculating revenue, cash flow, and payroll easy and accurate. Your company's financial information will be secure, but you can access it from anywhere with the correct security code. Simply put, online accounting software is a great investment for any small business.

Here are some of the benefits a business can discover through online accounting software:

1. User Friendly

Online accounting software is generally easy to learn and use in day-to-day business operations. Once it is set up, you can keep your accounts up to date with a few regular data entries - information from bank statements and invoices can be automatically uploaded and processed into the correct categories. This means that you and your employees don't have to worry about advanced accounting details - you can do what you need efficiently with a few clicks.

2. Security

Since online accounting software stores data online, some business owners might be worried about security. However, security is a top priority for online business software companies. In addition, the online connection makes it easy to invoice clients, link up with bank information, and assess your business' financial health wherever you are.

3. Payroll

Instead of all that paperwork, online accounting software makes it easy to fill out employer forms accurately and on time.

4. Cash Flow

Effectively managing your cash flow can help your business save money. Online accounting software makes it simple to determine incentives for employees and discounts for creditors or customers. In addition, the manager or business owner can view profits and losses in a comprehensible way.

5. Invoicing

One of the most important aspects of any business is invoicing, because it brings revenue to the company. Creating invoices with online accounting software saves you time and prevents losses caused by human error. You can even send invoices directly to clients through email to save paper and stamps.

6. Accuracy

For all types of business computations, accuracy is essential. Mistakes made in calculations can possibly lead to significant losses or other issues. Online accounting software keeps you from making these mistakes.

7. Cost

One of the greatest benefits of online accounting software is the cost savings. For small businesses running on tight budgets, hiring an accountant can be expensive. Even running software on an in-house server can end up costing a lot with all the upgrades and system tools. When a business buys online accounting software, it only has to worry about paying for the software and training employees to use it. And since many online software companies run on subscriptions, you'll only have a small fee each month instead of a large one-time purchase.

8. Productivity

Paperwork can be tedious and tiring, causing employees to get distracted and become less productive. Online accounting software is much more efficient than filling out paperwork because half the work is already done. This helps employees be much more productive than they were before.

9. Opportunities

Many types of online accounting software help businesses track trends, losses and profits far better than they could in the past. This may help the business discover new opportunities to improve revenue.

Joanna Macaluso (Credit: GetApp.Com)

​

Now it's central to almost every company's business, connecting them with suppliers, employees, customers and partners. Stephen Armstrong has our top ten ways the cloud helps businesses with some shop-fresh examples…

1. SUPPLY CHAIN

Locking all suppliers into your supply chain allows a free flow of information, measurement, and cost and inventory control, says Debra Hofman, vice president of supply chain research at research giant Gartner. The company predicts that by 2016 60 per cent of banks worldwide will process the majority of their transactions in the cloud.

2. MARKET RESPONSIVENESS

"For business facing a changing market and client needs, the cloud brings incredible responsiveness," says Jacqueline Davey, IBM vice president, cloud. The company helped online game developer Mojang, of Minecraft fame, spin up its cloud presence for its new Battlefield 4 game. "Using the cloud allowed us to add an extra 25,000 players in just four hours," Ms Davey says.

3. NEW BUSINESS MODELS

Many large servers run at less than 30 per cent capacity, according to Peter Zonneveld, co-founder and chief executive of Greenclouds. The company buys surplus computing power from those with too much and sells to those with a temporary need. In Brazil, startup Audio Monitor links to the country's radio stations, via the cloud, and prompts artists when their tunes are played to maximise royalties.

4. DIFFERENT WAYS TO EMPLOY

John Winsor, chief innovation officer at Havas and chief executive at Victors & Spoils (V&S), says the cloud is restructuring the ad agency model. V&S uses a global team of freelancers paid per job. Xenios Thrasyvoulou, founder and chief executive of PeoplePerHour, argues that crowdsourcing talent is the future for flexible firms. The online marketplace lets small firms advertise projects; freelancers respond.

"For business facing a changing market and client needs, the cloud brings incredible responsiveness"

5. NEW WAYS TO MOTIVATE

Cloud-based software company CallidusCloud has developed MySalesGame, pioneering the gamification of sales. MySalesGame sets levels and missions into a company's customer relationship management software, such as sales staff adopting best practice, reaching milestones and hitting targets. Those finishing a mission or a level get rewards from peer recognition on social collaboration platforms or a perk.

6. SHARING INFORMATION

Newham University Hospital NHS Trust serves a population of some 240,000 in East London. The advent of tablets, smartphones, wi-fi and the cloud means doctors and nurses can access data instantly wherever they are. David Bolton, director of public sector market development for QlikTech, says the company's software speeds up production of reports and shares information via an online dashboard.

7. WORKING FASTER

"Usually it is easy to deploy wherever you want," says Rob Keenan, head of UK portfolio management at Siemens Enterprise Communications. London agency James Park Associates designs first-class seats for air operators, including Singapore Airlines, and uses the cloud to enable its Asian and London offices to collaborate on design, thus effectively operating a 24-hour working day.

8. DATA GATHERING

The cloud's real-time data recording and response allows TP Vision, a joint venture of Hong Kong-based TPV Technology and TV manufacturer Philips Electronics, to measure viewers' habits and fine-tune programming suggestions for Philips Smart TV customers. The company can personalise programme suggestions as people view and target adverts with the precision of a search engine.

9. COLLABORATION

Sales software hotshot Salesforce measures how influential employees are on the company's cloud-based internal social network Chatter. Chief executive Marc Benioff invites the company's top 20 influencers to the quarterly off-site retreat with top executives. "We estimate we have 25 per cent fewer meetings, 26 per cent less e-mail and access to 39 per cent more information using Chatter to communicate and collaborate internally," the company says.

10. SCALABILITY

Green eMotion is the European Union's continent-wide bid to promote the use of electric cars. The system has to link 43 countries, allow newcomers on stream, enable any GPS device to connect to the system and map electric car recharging docks across Europe. "This would have been completely impossible before the cloud," says Jacqueline Davey, IBM vice president, cloud. "Using the cloud, however, the system can grow as large as it needs."

Stephen Amstrong (Credit: Raconteur.net)

​Years ago, this function was most commonly associated with the person on staff who handled employee paperwork and personnel files. He or she served a primarily administrative purpose — HR made sure everyone got their paychecks and benefits, processed performance reviews, and handled conflicts that were too big for managers to deal with themselves.

Today, the role of HR has become a much more complex and dynamic one for many businesses. Some companies even refer to HR's activities as "human capital management" (HCM) to reflect the more strategic, leadership-oriented nature of the department. According to Gartner, HCM is a "set of practices related to people resource management," specifically in the categories of workforce acquisition, management and optimization. In addition to the traditional administrative tasks, HR includes workforce planning and strategy, recruitment/onboarding, employee training, and reporting and analytics.

But what does successful HCM actually look like in the modern world? Sanjay Sathe, president and CEO of RiseSmart, a provider of contemporary career transition services, said the key is to treat employees like a true investment.

Acknowledging that your talent is more than big data — that they are actual people — can help you choose, implement and manage HCM systems that provide both your people and your organization with value," Sathe told Business News Daily. "When you approach HCM from the mind-set not of, 'What can I get?' but 'What can I give?' you create an environment in which both you and the employee reap rewards."

HR experts shared their insights for companies looking to provide the best human capital management for their workforce.

What do you think of when you hear the phrase "human resources?" Years ago, this function was most commonly associated with the person on staff who handled employee paperwork and personnel files. He or she served a primarily administrative purpose — HR made sure everyone got their paychecks and benefits, processed performance reviews, and handled conflicts that were too big for managers to deal with themselves.

Today, the role of HR has become a much more complex and dynamic one for many businesses. Some companies even refer to HR's activities as "human capital management" (HCM) to reflect the more strategic, leadership-oriented nature of the department. According to Gartner, HCM is a "set of practices related to people resource management," specifically in the categories of workforce acquisition, management and optimization. In addition to the traditional administrative tasks, HR includes workforce planning and strategy, recruitment/onboarding, employee training, and reporting and analytics.

But what does successful HCM actually look like in the modern world? Sanjay Sathe, president and CEO of RiseSmart, a provider of contemporary career transition services, said the key is to treat employees like a true investment.

"Acknowledging that your talent is more than big data — that they are actual people — can help you choose, implement and manage HCM systems that provide both your people and your organization with value," Sathe told Business News Daily. "When you approach HCM from the mind-set not of, 'What can I get?' but 'What can I give?' you create an environment in which both you and the employee reap rewards."

HR experts shared their insights for companies looking to provide the best human capital management for their workforce. 

Look beyond recruiting and onboarding

When it comes to talent management, some companies are so focused on hiring new people that they end up ignoring the ones they already have. But smart HR professionals know that employee engagement must extend well beyond the recruiting and onboarding processes.

"Keeping employees happy and engaged in your company now depends very heavily on how you approach the entire employee life cycle," Sathe said. "[Ask yourself,] do our recognition, review and learning processes actually engage with our employees, or are they tokens so we can say we have a process? Does our offboarding process match our onboarding process in terms of engaging our employees with our brand and our company?"

Learn the best way to manage each employee

In addition to viewing employees as individuals regarding their progress at the company, it's important to take a personalized approach to the day-to-day management of employees. Melissa Moore, chief people officer at enterprise behavioral analytics company Mattersight, noted the importance of taking your staff's personalities and preferences into account when managing and communicating with them. To a certain extent, this can be determined by personality assessment like the popular Myers-Briggs Type Indicator, Truity's TypeFinder Personality Test, or Mattersight's own Personality Pattern Inventory. 

"Learn more about how a person is wired," Moore said. "An emotions-based person needs you to check in [and] create a personal relationship ... to engage fully. If a person is thoughts-based, you need to regularly ask for feedback and progress on a task and recognize him or her."

However, personality is only one component to consider when interacting with employees. As the generational groups in the workforce become more equally divided, employers may need to adjust their approach to make sure each of them is receiving the kind of solutions and opportunities it needs to succeed. Moore cautioned HR professionals not to be misled, however; generational groups are indeed different, but not in the ways you might think.

"Millennials ... want the same things — the core basics are important," Moore said. "I see differences in generations, but not in what they want from us as a company. We just [need to] change how we give it to them."

Invest in the right technology

The reason HR's status has become so elevated in today's business world is that technology has made it possible to manage employee data — and, therefore, gain much deeper insights — than was ever possible before. If you want to make your HCM processes as efficient and helpful as possible, it's critical to implement the right tech tools for your company, said Claire Bissot, a certified senior professional of human resources (SPHR) and HR consulting manager at business services provider CBIZ.

"Almost every aspect of human capital management can be enhanced and further strengthened through technology," Bissot said. "HR professionals [should] begin investing their time to build automated processes, utilizing technology, so that they can begin to get out from behind the desk piled with paper and get out to get to know the people."

When HR professionals get to know the company's employees, they can then try to understand the insights they've gained in order to improve the organization.

"You can identify future leaders and help management invest in them," Bissot said. "You can identify a common need of the masses that can be easily addressed and fulfilled. You can identify the gaps within the personnel and build trainings that teach beyond the functions of the job but show your investment in your people as people."

Sathe said that, when you're choosing software for HCM, the most important factors to consider are whether the software or process makes it easier for people to do their jobs, and whether it truly provides value to either the employees or the company.

Take a positive, but transparent approach to communication

All companies will have to deal with changes and transitions that affect their employees. Moore said HR professionals should keep open communication with the entire organization at the forefront — not only during transitional periods, but all of the time.

"Change is scary for everyone, and the unknown causes fear," Moore said. "Communicate not only what is happening [in this situation], but also the day-to-day. Have open communication as much as possible so people know what's going on, whether it's relevant or not."

Sathe agreed, adding that situations like layoffs or budget cuts, which are viewed as negative and threatening, should be reframed in a positive and constructive way when they're communicated to employees. For example, offering outplacement services to your employees can provide tangible support to employees whose roles have been affected, he said. This not only helps those employees quickly move into new roles, but also reminds the remaining staff members that your organization has their best interests in mind.

"During times of transition, it's our job to provide ... hope for the future, instead of creating situations that allow employees — both impacted and remaining — to dwell on the past," Sathe said. "Acknowledging that today's work environment is often subject to change as transparently as possible from the outset can also go a long way toward creating a more positive work environment before, during and after a restructuring event."

Continue to change with the times

HCM has become very important to today's organizations, but it's also challenging. By definition, it requires staying up-to-date with the ever-evolving needs of your company's human capital. HR professionals should never think their processes are "good enough" to stop improving them.

"We have a whole new generation entering our workforce and challenging us every day to adapt," Bissot said. "We must stop looking at the workforce as the same one unit that we can continue serving on our usual course, but instead begin to get creative, try new things and challenge ourselves to solve the puzzles of the new HCM of today."

By Nicole Fallon (Credit: Businessnewsdaily.com)

Innovations in the field of HR technology are likely to spawn a steady uptake in adoption rates in 2016 and beyond. Here are some tech trends making splashes this year.

Mobile Optimization Coming on Strong

As the workforce becomes ever more mobile in nature, HR software must evolve to meet the way employees connect with their HR departments. Responsive design and mobile optimization will likely dominate the landscape this year, as companies scramble to provide employees access via mobile devices. Expect to see more online applications, online testing, and online onboarding as this trend continues to evolve.

Delivering this kind of HR functionality will mean that organizations must consider the features they will offer, the mechanics of the mobilization process, and the interface they will create for employees as end users.

HR Goes Social

It is expected that HR departments will likely adopt social media as a way to engage employees. Social media provides a platform for gathering and sharing important information, bolstering communication initiatives in the workplace.

Additionally, social media facilitates a collaborative process, encouraging teamwork and innovation. HR will likely profit from such collaboration, as employees become ever more engaged in the process.

Wearables and BYOD Trends Change the Game

As wearable technology and BYOD trends continue to take center stage, they will likely become vehicles for HR service delivery. The upside of this trend is the convenience it provides for employees who wish to connect with HR at any time and from anywhere.

The downside is that this increased accessibility may make it even more necessary for HR departments to help employees find a positive work/life balance.

More Emphasis on Feedback and Culture Management

As the need for effective culture management becomes increasingly apparent, technologies are emerging that encourage employee feedback, monitor engagement, manage employee performance and goals, and assess culture.

Utilizing these technologies will enable HR managers to spot employee performance trends and take appropriate measures to re-engage and re-focus employees as needed.

The Future is Now

As the role of HR continues to shift, technology adoption will likely continue to evolve to meet HR needs. Employee engagement and culture management will likely drive adoption of technology in the coming years and redefine the role of HR in an ever-changing organizational landscape. 
Frank Holman (Credit: HRCloud)

There is a common complaint in the outsourcing industry. Providers create brilliant services which beat in-house provision on every count. But potential clients are reluctant to sign up. Outsourcing is still a hard sell.

So what's the best way to win over doubters? First up, it's worth sketching out the scale of the challenge.

A recent survey by Illuma Research for software consultancy MooD International shows what IT directors really think about outsourcing. The priority? Almost half said outsourcers should aim to deliver revenue generation and growth. By contrast, only one in five cited cost reduction as the most critical area.

Clearly, they understand outsourcing is about a step-change in performance, not merely saving a few pennies. Outsourcers need to acknowledge that. Making life simple is crucial as 57 per cent of IT directors said their job is more complex to manage and 46 per cent that their job satisfaction has declined.

Selling your services

Add to this that 58 per cent said it has become more difficult for outsourcers to deliver on budget and 76 per cent that outsourcers aren't aligned with their business goals, and the message is clear: business pitches need to spell out how they can make life easier for IT directors in a clear and unambiguous way.

Alas, so often this opportunity is missed. Vivek Madan, a partner at consultancy OC&C, has worked with many companies assessing potential partners. He observes: "On innovation, outsourcing firms can come across as underwhelming when they pitch to a new client. This is primarily because outsourcers don't always excel at articulating value added."

He claims the mindset is often wrong. "They'll settle for a bid being incrementally better than the next and simply do what the client has asked of them rather than thinking outside of the cost box to deliver outcomes a client might not have thought about, such as employee engagement, consumer advocacy, knock-on efficiencies, risk management or corporate social responsibility."

Big claims will need strong evidence to win over sceptical boards. Contact centre Ventrica has won business from McDonald's, Worldpay and Agent Provocateur by using case studies to spell out how it can deliver gains.

Ventrica founder and managing director Dino Forte says: "The best way of convincing clients who are unfamiliar with outsourcing is through case studies that demonstrate how similar companies in their sector have realised significant commercial benefits. This allows them to identify and envisage how this can work for them too." Vague claims get you nowhere, he warns.

Winning over potential clients

Supply chain outsourcer Flex says the case study approach is just the start. Mike Meades, Flex general manager, says: "I think one of the best ways to convince C-suite bosses to move towards outsourcing is to provide both case study evidence and also a tailored solution to the specific needs of a business.

"Companies want to see a proven track record from an outsource provider that not only delivers financial and operational improvements, but also shows the ability to manage risk to allay very typical concerns within an organisation that is outsourcing, particularly for the first time." Facts and figures, supported by a detailed exposition of how it was achieved before, make a good case.

"I dislike the term outsourcing and never use it with clients or within the industry – instead we use the term technology partnership"

Exit clauses are a great way to win over worriers. The old days when companies signed decades-long deals with no chance of leaving are long gone. Nicholas Mobbs, co-founder of Outbox, a European IT outsourcer, says an exit clause must be backed up with a guarantee the process will be done smoothly.

"The outsourcing partner needs to transfer all the data back to the contractor or to the new outsourcing partner, plus provide adequate expertise for it to succeed without them," he says. "This contract clause avoids concerns about vendor lock-in, where a company feels trapped by contract with one outsourcing vendor."

It should be emphasised that outsourcing isn't a sales job, vendor to buyer. It's a partnership. Brian Borack, chief operating officer of IT provider SoftServe, says: "I dislike the term outsourcing and never use it with clients or within the industry – instead we use the term technology partnership. Clients are choosing a partner they want to bet on with a skillset they cannot find elsewhere."

Above all, the mission when pitching is to arrive at a common understanding. Mike Whitchurch, senior vice president at CGI, the world's fifth-largest outsourcer, says: "Outsourcing projects need to be fully aligned to the business vision of the organisation. This means the IT outsourcing provider needs to demonstrate they understand the business and can add value to it in a way that supports the overall business objectives."

Recent National Outsourcing Association figures show 78 per cent of companies and consultancies expect to expand their usage of outsourcing towards 2020. Only a fraction of 1 per cent will reduce it. Conditions have never been better. Service providers simply need to up their game – and get pitching.

By Charles Orton-Jones (Credit: Raconteur.net)

Considering that on average, companies replace their ERP system/accounting software every seven years, wouldn't it be ideal if there was a simple, concise software selection process to follow time and time again?  Unfortunately, more often than not, every seven years business decision makers are forced to wrestle their way through the tangled web of countless software publishers to find the one that fits their unique business requirements.

Step #1 - Conduct a Business Process Review
As you narrow your choices of possible accounting software solutions and value added resellers (VARs), it's critical to have front runners that are willing and able to conduct a business process review, beginning by following a complete transaction within a functional department of your organization from start to finish.  The ultimate goal of the business process review is to obtain a set of 'x-rays' that paint an accurate picture of your business strategy, processes, systems and people. Analysis of these test results can then provide a clear picture of software needs and product adequacy.

Step #2 -Initial Product Selection
Questions surrounding software pricing, reporting capabilities and scalability will surely be top of mind in your search for and selection of ERP software; however, keep in mind that identifying a potential partner is actually more important than the software publisher itself.  Potential partners are responsible not just for selling the software solution, but also for implementation and continued software support into the future.

Step #3 - Gap/Fit Analysis
One size doesn't fit all.  This mantra is especially true when it comes to implementing an ERP system/accounting software.  During this phase of the selection process, a gap/fit analysis will help shed light on the functionality of the ERP solution in comparison to the functional requirements of the receiving organization.

Step #4 - Joint Planning
Based on research compiled and gap/fit analysis findings, joint planning between the chosen technology partner and client can begin to compare those requirements with the functionality in the selected ERP solution.  From here, a detailed project plan and associated scope documents can be prepared to set the path for a successful – and smooth – implementation.  During the joint planning phase of the selection process, you should also gain visibility of the dedicated project management team who will be responsible for the successful implementation of your solution.

Step #5 - Customization
After the business process review has been conducted, results are analyzed, and requirements are compared against the feature sets of contending software solutions, customization can then be considered where necessary.  Customization can range from basic addition of specialized data fields, to complete code changes to processes.  When evaluating the customization required for your business, be sure not to overlook third-party add-ons which can be advantageous in terms of both speed of deployment and development cost savings.  However, maintain a critical eye to how well the add-on integrates with the chosen software solution and its upgrade schedule to prevent lost productivity.

Step #6 - Conference Room Pilot
Before making your final purchase decision, a conference room pilot is critical to ensuring that the solution of choice meets the various business scenarios encountered within your organization.  This means engaging end users and having them take the solution for a 'test drive' so-to-speak.  Consider, will the software solution meet desired output?  Are users comfortable with the look and feel of the software?  Confidently answering "yes" to these questions means that you're prepared for final selection, implementation, and seamless user adoption.

Step #7 - Final Selection/Purchase of Software
The most important thing to remember at this stage in the game is to select a solution – not a product.  Generally, a vendor will sell the software, set it up, and leave having little or no interest in your future.  A business partner on the other hand will provide a solution because they want to ensure you have a competitive advantage over other companies, with efficient tools and processes unique to your business.  A partner will also provide ongoing support, training, future upgrades, and will continue to work with you to address future changes in your ERP solution.  And, because you want your software and time investment to continue to pay off, choose a solution that works with your business today and that will serve your needs tomorrow.

By Mark Goodson, Credit: BCG Systems