Accounting automation can benefit your security business in a variety of ways.
First, you’ll be able to complete many of your accounting tasks in less time. There will also be less opportunity for human error, which comes with its own costs. But one of the most important ways it can benefit your bottom line by providing consistent cash flow.
Cash flow is one of the most critical aspects of any company’s finances. It needs to be positive and predictable. Yet, more than 40% of small business owners with cash flow issues were caught off guard by the problem.
As a security dealer, you likely work with a patchwork of systems that covers your financial and operational needs. This mishmash of systems is often viewed as temporary or short-term until you have the time to review, purchase, and integrate an all-encompassing system. All too often, though, that day never comes, and you’re left with several disparate data systems that work, at best, awkwardly with each other.
This means your organization is wasting energy, time, and money trying to gain control of their snowballing data needs. If you find yourself in this situation, it’s time to review the ways disparate data from disparate systems are causing active harm to your company. (more…)
How well do you know your customer data? When you need to make a strategic decision, can you make it based on data, or do you need to follow your gut? In the security business, collecting data and making it visible can help you to run a more successful company. Below, learn what data visibility is and how through good customer data visibility, security companies can thrive. (more…)
No matter how time changes or which organizational fads come and go, one thing remains true: companies continuously strive to turn a profit. To increase your profit margin, you have two choices: increase revenue or decrease costs. Here we discuss what effective security companies are doing to lower costs, streamline processes, and increase their profit margins. (more…)
“That’s the way we’ve always done it” is a commonly heard phrase at many security businesses. Some would say that if a process isn’t broken, you shouldn’t fix it. However, what happens if the process is broken but you don’t realize it? Processes at security dealers should be audited and actively managed. Otherwise, you may be risking (or already experiencing) significant harm to your business. (more…)
2020 is finally over and the New Year has gotten underway. This has a lot of business leaders thinking about how they can ensure success for their organizations in 2021. Many security dealers have been operating the same way for years or even decades. Following a year that has been nothing short of turbulent, it is perhaps the ideal time to examine your processes, tools, and overall approach. (more…)