How to increase your customer loyalty?

Customers are how a business works. If a business has loyal customers, it means flowing revenue and the growth of a brand. Every company must focus on client retention for repeat business. This is because once a customer is loyal to your brand, he/she will not go elsewhere. Businesses that have a certain relationship with their customers usually inspire the latter to make repeated purchases. However, how can you increase your customer loyalty? Let us find out!

Good customer service is key.

Always prioritise customer service in your company. Good customer service is a true reflection of just how much you appreciate and value all your customers. Your customer service support team must be on point on social media platforms and via calls/emails. This will help the customers feel more at ease with their buying decisions with you.

Seek feedback & heed it.

Take feedback from your customers and heed their advice. Every business must go the extra mile to collect reviews of how they have been doing. This criticism can help you go and improve your services. Hence, it will automatically increase your customer loyalty.

Make it easy for customers to buy your products/services.

You must make your products and services easily available to your customers. Many times, complicated sign-ups or asking for too many personal details drive the customers away. Hence, it would be best if you tried to make it easy to buy or pay for your products and services. You can try to offer as many payment options as possible so that the customers can choose as per their convenience.

Your brand should be about more than just money.

Building a brand name plays a vital role in gaining personal loyalty. Therefore, you must aim towards prioritising having a solid name in the market over money. For this, you can offer attractive discounts and impeccable customer service. This might mean walking the extra mile in the beginning, but you will see good returns in the future. If you work with this attitude, you will notice an increase in your loyal customers.

Conclusion

Customer loyalty is the best way to ensure repeat business. In fact, if a customer is loyal to your brand, he/she will recommend it to others. Following these handy tips can help you increase customer loyalty significantly.

At info@米6米乐体育 Info Solutions Pvt. Ltd., we offer expert outsourcing services that can help drive your costs down to help your customers and increase loyalty. Check out our range of services at our website!

Coronavirus and How Virtual Accounting Companies Can Help your Business

Business

With the pandemic changing the business landscape, working with virtual accounting companies is the best way to keep your finances and other critical processes in check.

The Coronavirus pandemic has disrupted the way that companies do business. Just a few months ago, it was all business as usual. But now, the government regulations to control the spread of the disease have seen most business close doors. Now, many companies are shifting to the internet to render services to their esteemed clients. They are also having their employees work from home.

If you were contemplating between an in-house and outsourced bookkeeping expert, then the decision is now easier – a remote one will be more beneficial than an in-house one. Working with the best  virtual accounting companies  is a great way to get your bookkeeping and accounting solutions handled without worrying about the effects of the pandemic. In this article, we will tell you how a remote accounting company will be beneficial during the global crisis.

Play your part in preventing the spread of the virus

Coronavirus is spreading like wildfire. Just a couple of months ago, we all thought that it was a China-only problem. But at the moment, it has affected more than three-quarters of the world. By working with a virtual company, you cut out the need of employees having to come to the office, and thereby, minimizing exposure. You can think of this as your way of supporting the government’s effort to stop the spread.

Avoid overspending during the crisis

If there’s one thing that most businesses are struggling with right now is to stay afloat amidst the mess. The last thing you want is to start spending lots of money trying to put new structures in place for the new team. Not to mention the interviews and training costs. Working with online accounting companies means you enjoy the services without having to spend a fortune on the onboarding process. Additionally, you may not need to spend money trying to buy new bookkeeping and accounting software and technology because these companies already have the latest ones.

One less thing to worry about

Hiring a virtual accounting company means your accounts, VAT, payroll, invoices, cash flow, and other bookkeeping solutions are taken care of. At least, that’s one less thing to worry about. Besides, a virtual company ensures you get real-time, accurate financial reporting you need.

Virtual is the new norm

We are living in unprecedented times. No one knows for sure how the business landscape will look like after the pandemic is over. But still, one this is for sure – more businesses are shifting online to offer services. Clients, too, are turning to the internet to buy solutions. Unless you adjust your structures to accommodate online services and transactions, you might end up missing out. A virtual accounting company allows you to streamline your finances both virtually and physically, allowing for a smooth transition to the latest marketing models. They will advise you on tax matters and everything you need to know about selling online.

Conclusion

Working with a remote company might be of a necessity than an option right now. But you shouldn’t view it as a punishment, but an opportunity to expand your business and align with the new way of doing things.

10 Reasons To Outsource Your Accounting Work

Do you feel your competitors are taking away your clients because they are able to out price you? And do you feel threatened by ongoing onslaught of technology in your profession?

Do you feel you need to add new service offerings to your clients?

Then read below and consider outsourcing your accounting and bookkeeping work to achieve various improvements in you practice.

Outsourcing accounting is not just about cost-saving. Here are the top 10 advantages of outsourcing accounting and bookkeeping services for accounting firms.

1. Faster growth for your practice.

One of the major benefits of outsourcing is that you can have more time on your hands to increase your efficiency, grow your firm and restructure your operations to and maximize your return on investment (ROI) on the core competencies of your business. You can use this extra time to try to bring in more clients, by improving your marketing efforts and customer services and more. Outsourcing accounting services is most likely to reduce your costs by 30 to 50%.

2. Never lose a client to non-availability of time

Outsourcing provides you with a team of professionals at a short call and your ability to deliver services is no longer limited to how much time you can personally put in around the clock. Hence, you can now entertain new projects and clients coming your way with all the help you are getting.

3. Don’t pay for the overheads just pay for the actual work.

When you outsource you do not need to pay for the overheads, vacation, sick leaves, NI, training and other staff expenses. You pay for the actual work done for you at most of the time at an agreed price.

4. Alleviate the risk of overnight losing of your staff.

The stuff bad dreams are made of. You reach your office to find one of your staff is ready to put in his/her papers. If you have been in practice for long enough you would definitely have faced this situation. Most of the practices can’t afford a backup person but when you hire an outsourcing outfit you don’t have to worry about such situations, as their business nature requires them to have an expert, qualified and experienced team that is reliable and ready with an effective backup.

5. Standardise quality control .

Most of us get frustrated over review times and other delays and efforts required to minimise errors in the final output. Having an outsourcing team changes all this as you get advantage of standardised quality control procedures put in place by them and you could even mutually agree to more stringent requirements.

6. Utilise diverse experience across various lines of business.

Outsourcing companies work for various accounting practices thereby earning diversified experiences across various sectors. You can utilise this expertise to gain competitive edge in your area.

7. Allow you introduce new services.

If you had always wanted to introduce some new services to your customers but could never take the initiative because of lack of time and expertise available, hiring outsourced services can really help you change that. You can introduce new services to your customers, which is just like adding new sources of revenue and making the best use of your in-house and outsourced capabilities and expertise.

8. Re-engineer your practice.

You can reengineer your services offerings to shift from compliance work to higher proportion of advisory services enabling your firm to be future ready in the upcoming digital work environment.

9. Work less, earn more.

Outsourcing helps you to cut expenses on overheads and pare down your salary bill. You are able to increase your bottom line without increase of efforts from your side. Moreover you can utilise savings in profits to teach yourself and your staff for more value added & niche services.

10. Increased valuation of practice.

The firms that outsource show increased profitability as compared to their peers not using the services. As such you would enjoy higher valuation multiplier increasing the valuation of your firm. This also helps firms in case they wish to raise borrowed funds from banks.

Benefits Of Moving Clients To Cloud

Cloud computing has brought about a revolution in our lives. From using social media to paying bills through online banking, we are always on the move. The domain of accounting has also been affected and statistics point to a massive change in the domain of accounting in the form of cloud accounting. This term implies the usage of cloud computing for managing the accounts instead of desktop accounting. Apart from providing the benefit of mobility, it provides a lot of additional benefits which only cloud-based computing can offer. An accounting practice can benefit immensely by moving from desktop-based accounting to cloud. Below are some of the core benefits of moving clients to cloud based accounting.

Flexibility of Work

Cloud accounting allows you to access your accounting application as well as data anytime, anywhere and with any device connected to internet such as desktops, laptops, smartphones and tablets. Your data is available 24×7 and all-round the year which was never possible in the era of desktop computing.

Realtime Information

Since multiple users can work at the same time, the data on a cloud-based system is always updated and provides real-time insight. It provides a clear and real-time overview of the financial position of the client allowing accountants and management to take informed decisions.

Low Costs

With cloud accounting, there is no need to spend much on IT infrastructure or hire expert IT staff to manage servers. Neither IT staff has to install or update accounting software on your machines. Just by a single subscription, all your work is being done at a fraction of the cost. It frees up the IT team to do other tasks. Apart from that, it reduces unnecessary expenses on server maintenance, energy consumption, expert staff and other associated costs.

Boost Productivity

Since accounting data is ever increasing, it leads to desktop accounting systems becoming slow and unresponsive over a period of time. On the other hand, in the case of cloud computing, all the data is saved in cloud and due to sheer availability of resources, the system is always responsive and it provides a boost in the overall productivity of the accounting staff. As per a research carried out by Harvard Business Review Analytic Services, it has been reported that “74% of businesses feel like cloud computing has given them a competitive edge”.

No Storage Limit

Over the passage of time, with the steady growth of business, demand for storage space increases. Due to this, accounting firms have to keep on updating the hardware. Cloud computing allows the firms to expand or scale down their storage space with a click of a button at much low cost.

Scalability

Cloud accounting allows clients to easily scale up or down depending on the requirements. They can add or remove users or upgrade their computing power on a click of a button. Their pay as you use model is a win-win situation for the clients.

Increased Efficiency – Collaboration

Cloud accounting allows multiple users to work together. Domain experts can handle tasks related to their domain and this leads to increase in overall efficiency.

Automatic Updates

With cloud accounting, enhancements to the system are implemented in the back without disrupting the work of the users. This allows the users to always work on updated system. This is very critical as new taxes can be added or tax values can be changed with minimal effort at the client’s end.

Ease of Use

Cloud accounting systems are redefined the way people used accounting software. It is being said that they allow users to update their accounts as easily as they can update their Facebook status due to simplification of these accounting systems.

Reduces Paperwork

Since everything is available online, there is no need to keep hard copies of the documents and other data. This can lead to fulfilment of a desire to have a paperless office as invoices can be sent through emails which further saves the cost of printing and postage. Incoming invoices, bills or receipts can be uploaded directly or scanned and saved within the software without any need for physical document which further saves the cost of maintaining files and storage costs.

Better Control

In cloud accounting, all the data is stored centrally and access controls can be put in place to classify the data. This leads to a better overall control over the sharing of the data.

Automatic Backups

Cloud accounting systems automatically generate and store backups in different geo-locations which helps in availability of systems even in the times of a disaster such as an earthquake or a cyber-attack. You can easily restore the system using these backups with a minimal downtime.

Platform/Device Independent

Cloud accounting systems can run on any machine which is connected to internet irrespective of its platform or size. Users can access these systems from any device which has a web-browser and may be running on Windows, Mac, Android, IOS or Linux. These systems are responsive or mobile friendly and adapt to the screen-size of the device which is being used.

High Security

All cloud accounting systems are highly secure as they use military grade encryption. Since the data is spanned over multiple data-centers and geo-locations, it diminishes the possibility of data loss due to any computer or system failure.

Build Stronger Client Relationships

Cloud accounting allows easy flow of data between accountants and their clients. Multiple users can collaborate and work together anytime which helps in building a better bond.

info@米6米乐体育 Info Solutions is one of the early adopters of cloud computing. Apart from using all cloud-based accounting systems such as SAGE, IRIS, QuickBooks etc., they have hosted their in-house job-portal on the cloud which has brought about a great boost in the overall productivity and customer satisfaction.

Why should you use an outsourced bookkeeping service for your business?

Are you wondering why is there a need to shift to outsourced bookkeeping service for your business?  8 out of 10 companies fail due to poor management of their accounts. Many business owners hem and haw about the need to have an outsourced bookkeeper rather than hiring an in-house staff to handle their accounts.

Let us discuss the valid reasons and benefits of choosing an accounting outsourcing company in the UK.

Added expertise

Accounting outsourcing will offer you comprehensive benefits without spending for a full-time salaried person. Handling over your books to an expert team of professional accountants can bring in a lot of functional changes and growth in your business. Outsourced bookkeeping service will make things easier for you by keeping a check on the cash flows and categorize all transactions into various categories. It further helps in analyzing the financial status of the business and its performance in a better way. An expert will not miss even a single transaction, and they will make sure all tasks are done on time. For example, all payrolls are paid regularly.

Saves time and overhead expenses

While you run a business, taking care of books yourself is not an efficient usage of time. Sitting back and entering invoice details and making entries will kill your core time. Bookkeeping and accounting itself is a full-fledged job. Managing your tasks on your own is a good thing, but it should not be at the cost of your primary work schedule. Even accounting is never a CFO, or non- accounting staff’s job.  Managing accounts is not everyone’s cup of tea, and your business was not meant to spend time handling your books. Also, unravelling mistakes can be time-consuming and pain in the head when you have your regular work lined up for you.

In such a scenario, it is always wise to have an expert outsourced accountant and bookkeeper who can manage your accounts well without errors, and all of this come under the outsourced bookkeeping services.

Save Money

No wonder opting for an outsourced accountant will cost you money, but when an expert outsourced accountant takes care of your books, you will save much more money and see visible growth in your business.  Also note using outsourced accounting services is cheaper than having an in-house salaried bookkeeper. With outsourcing, one only has to pay for the services they use whereas you pay more to a full time professional for the same number of tasks.

Fewer chances of fraud

Fraud is one problem that is prevalent in every business, whether small or large. The company owners have to set aside their resources for preventing fraud and handling the errors. Fraud is inevitable but with outsourced accountants, it can be reduced to much extent.  In outsourcing accounting services, the duties are separately managed by the professionals, which help in preventing fraud and misconduct in an organization. With a team of professionals taking care of a single firm makes sure there is no discrepancy in reports and managing transactions.

Outsourced bookkeeping service -“Books Are Being Taken Care Of”

This is the only thought that brings you comfort at the end of the day. This is one of the main reasons as to why leading accounting firms from the UK are outsourcing their accounting and bookkeeping jobs to companies like  info@米6米乐体育 Info Solutions . If you have any query or are looking for an accounts outsourcing partner in the UK, you can get in touch with us at  info@米6米乐体育 . We, at  info@米6米乐体育 Info Solutions , understand that as accounts professionals, you have a lot of responsibility towards your clients. But stay assured when we say that outsourcing your client’s accounts and bookkeeping jobs to us would be the best decision you will take for your as well as your client’s business.