PRESS RELEASE
Release date: 10TH November 2015
Midlands accountants urged to stop
wasting money on inefficient software
Poorly thought out investments in accountancy software are making many businesses in the Midlands inefficient, and is wasting large sums of money, according to a leading management accounting expert.
Julia Leask, founder of Leask Accountancy Solutions in Warwick, is urging businesses in the region to look beyond the usual brands in accounting software and start small in order to make the best investment. The approved trainer believes that decision makers in the region should invest in systems designed to fit their overall business, and not just the accountants in the company. For SMEs where accounting is just one of several functions within the organisation, accounting software can often not be enough, resulting in additional cost and time spent purchasing, implementing and integrating additional systems around the accountancy software in an attempt to achieve a complete business solution.
The answer, according to Julia, who is Chair of the West Midlands CIMA Members in Practice Group, is to move away from proprietary solutions, which accountants may have grown used to and instead look to streamline processes and equip all members of staff with the data and tools they need to work efficiently with modular software, such as Open Source applications, which are growing in popularity.
Julia, who will be explaining to Midlands SMEs the benefits of Open Source software at a seminar on November 25, 2015 at Coventry Warwickshire Growth Hub, in conjunction with Open Source specialist OpusVL, commented: “For many accountants in the region, the first thought when looking for effective accounting software for their clients is to go straight to some of the dominant accountancy brands. While this may be a suitable investment for large companies, SMEs may invest in software too large for their needs, and struggle to get maximum benefit from it. Modular applications, such as Open Source software, allow organisations to build up their bespoke solution as their processes evolve, rather than jumping into software that is inflexible and too large to manage.”
Julia’s comments come at a time when the ICAEW has reported a significant increase in the uptake of cloud accounting software in the UK, revealing that it is growing ‘at an exponential rate.’ Many Open Source applications, such as Odoo, are deployed in a cloud environment, allowing accountants to gain a complete overview of a business’s activities in real time and collaborate more closely in a consultancy role, rather than completely managing a company’s finances from end-to-end.
Stuart J Mackintosh, Managing Director at OpusVL, is encouraging accountancy organisations to focus on their individual needs when exploring software, and remember that they may have one accountant but many employees and customers who must also be comfortable with their business systems.
Stuart commented: “For many companies, the system recommended by their accountants may be sufficient but for those companies in a period of growth and who want to exploit their competitive advantage, other options are available. Remember, some accounting functions are only needed once a year. Software that is free to acquire and flexible can be used for a range of other daily processes to bring much more value to an SME, boosting efficiency levels, and delivering measurable Return On Investment.”
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About Opus VL
Established in 1999, OpusVL is a leading Open Source specialist implementer and the primary UK Odoo integration partner. The company works with businesses in both the private and public sectors, implementing business management systems and associated services.
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