Big companies have long adopted remote working as an acceptable or even equal way of doing business. And it can work for you too. Handing over your bookkeeping to a remote business has tremendous benefits and with the technology that’s now available, it’s easier than ever for a small business with a limited budget.
I’m here to tell you it is possible. In fact, Notch Above has always existed as a virtual office. We’ve never had a physical office and we continue to grow each year without one. Here are three ways your small business can thrive by adopting a virtual office or remote working.
#1: Productivity tends to go up
Many studies and research have shown that employees tend to be more productive when working remotely. You’ll spend less time commuting and getting stuck in traffic. You also have the freedom to work from anywhere you choose, whether it be a breezy park or a bustling coffee shop.
The caveat here is that you need good software, technology, company policies and proper training to build a good virtual office.
We use a combination of systems in my business to communicate, collaborate and get things done. We use Skype for interaction, Dropbox for storage, GoToMeeting for group sessions and webinars, SnagIt for creating training videos and Screencast for sharing video libraries with staff and clients.
And, of course, we use the full suite of cloud-based Xero for our clients. Here’s just a few practical examples of the typical work we do…
- Bank reconciliations can be time consuming and stressful, especially if you’ve left them to the last minute and your BAS is due! Outsourcing your reconciliations gives you more time to building your business or have more time for family and friends where you’re able to relax.
- One of the easiest ways to develop strong business relationships is to pay your accounts on time, every time. Outsourcing your accounts payable to a remote team, means you’ll be able to build trust effortlessly. We generate a report of what’s due, you give the approval and we do the payments.
Tick, another item off your list.
- Paying your employees on time is vital to team morale and loyalty. Working remote through cloud-based Xero, we will ensure your employees are prioritised. You receive notification on what to pay, we provide you with a bank payment file and you simply upload it to the bank and we’ll send out the payslips. It really is that simple.
Can you picture your business running this efficiently? It is absolutely achievable and we access your accounts remotely and work virtually without stepping inside your offices. Our clients love this option because we can get things done faster, better and in real-time. On top of this, we do offer onsite meetings if needed.
#2: Your employees are happier
In addition to being paid on time, a remote working policy gives your staff freedom and flexibility to work when and where they choose. By catering to their different lifestyles and growing families, you’re giving them a good work-life balance.
The biggest benefit to keeping your staff happy is that they’ll stay with you longer. Every business owner knows how valuable a good employee is to the company. A high staff churn rate is a nightmare to manage for any business owner. Losing a capable staff member means money going down the drain to hire and train a new employee.
#3: Your business can save money
A business can save on operating costs such as electricity, water, gas, office supplies and rent. By cutting on overheads, you can afford to invest in good software and technology to enable remote work.
A study by PGI found that a business can save an average of $11,000 a year for each employee if they worked remotely half of the time. Personally, I’ve saved a lot by choosing to forgo a physical office over the years. I’ve also managed to hire the right people who are dedicated and driven to serve our clients due to this.
The benefits are two-fold – it works for the business and the employees. People love being able to save time and money on petrol, public transport tickets and work clothes.
Virtual offices are the future
It’s not just a growing trend. Virtual offices are everywhere nowadays. If you’re not offering it in your business, you may be missing out on good talent who are looking for that flexibility.
And it’s not just for your staff. It also extends to your contractors and service providers, who are looking to reduce cost and commuting time. If you’ve always done bookkeeping face-to-face, try hiring a remote bookkeeper and see how much time you save and how easy the working relationship is.
This Valentine’s day, fall in love with remote working. I promise that you’ll never look back.
Specialising in Xero bookkeeping, Notch Above is a Brisbane bookkeeper and BAS Agent located in Alderley that offers Xero setup, as well as training and ongoing support. Notch Above can take care of all the bookkeeping tasks you would rather not do, like bank reconciliations, supplier payments, payroll services, debtor control and BAS returns.
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