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

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. sjf@wrllp.co.uk. arichardson@wrllp.co.uk. ke@wrllp.co.uk. Tom Manford.

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

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

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

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

  4. 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

  5. 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?

  6. 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

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

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

  9. Live dashboards

  10. Quick view of daily, weekly, monthly cash flow

  11. 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

  12. 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?

  13. Easy to run financial reports

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

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

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