10 Jan Numbers may be everything but information is key for accountants today
Accountants deal with numbers all day, every day. It’s a fact of life as an accountant, whether it’s a book-keeper for a sole trader or a CFO for a large PLC, numbers are everything in this role.
We analyse the numbers, we test the numbers, we double check the numbers, we maintain them and finally we report them.
In all of that work and apart from the reporting techniques and parameters, we don’t try to affect them. They are the reality, they are the real financial snapshot of where a business is at in any given moment.
The modern day accountant is not just a number cruncher any longer. Of course that’s still the primary role, but it’s no secret that now more than ever companies are tapping into the other attributes that accountants typically have to help them in other areas of their business. An understanding of the intricate relationships between their activities and each financial aspect of them enables an accountant to have a very broad perception of a company.
There is a saying that ‘Money is everything’, and who understands money better than an accountant? After all, that’s what a majority of their day is spent working with. But maybe the word ‘everything’ in that saying is more about the ability to have an influence on everything within the business as a whole.
Numbers don’t grow by themselves. It takes a team of people to make a business tick; Sales, Marketing, Production to name but a few and within each of these areas’ accountants can add something of value. It might not be a game changer, it might not result in doubling of profits, but then that’s not an accountant’s function. We’re not the specialist in every field, usually just in one, but, within that field of expertise there is a chance to be unique from any other function and make contributions to every facet of a company. A review of a sales structure, a tweak of payments terms, efficiency exercise on costs, it all adds up.
Softworks solutions can operate as another tool in the armoury of an accountant. Yes it provides timesheets, rostering solutions and absence requests but it also provides information on specific activities within every aspect of a business in the form of time expended and its related cost and who better to analyse these numbers and identify ways to make improvements than an accountant.