Taking the digital plunge: transformation without tears
We recently attended a digital transformation round table facilitated by The Realization Group, where a wide-ranging discussion took place led by Andy Slight, of The Test People, John Marks, Director at Adaptive Consulting, Jon Davis, a FinTech leader and former CEO of FIS Europe, and Jonathan Bell, Client Services Director for DMW Group. Their main message: digital transformation involves much more than hardware and software. It’s also about people, processes and testing. Jonathan Bell, Client Services Director of the DMW Group, notes: Financial services firms are increasingly looking to undertake digital transformations, with the prospect of faster product releases, lower-touch customer environments and a wealth of valuable business analytics. But to achieve those objectives, they need to do some homework and consider a wide range of factors. Click <HERE> to read more about the discussion areas from this round-table, and <HERE> for an in-depth article on the initiative. Further Information Aiteo Consulting provides CFO advisory services to FinTech businesses. We can deliver a resourced BAU finance function for startups, successfully deploy and configure relevant cloud accounting & ERP software and support transformational change through strategic programme prioritisation, delivery tracking and project financial control. Jonathan Smith, MD of Aiteo Consulting, has acted as a Finance Director for LCH.Clearnet Group, one of the world’s largest clearing houses, and sat on the Group’s Operating and Finance Committees with lead Finance responsibility for Transformation and Change. He has also provided finance leadership for large transformation programmes in consumer financial services while working at Lloyds Banking Group and Barclays Bank. If you want to talk further about how we can help you with your digital transformation programme, click here to book a... read more
OTC Derivatives Margining
Unsurprisingly, technology has proved to be a key enabler in helping firms to develop solutions to meet the bilateral margin regulations taking effect in September 2016. We learned more about what some firms are doing at this recent breakfast briefing.
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How We Deliver – Introducing Receipt Bank
In our Trilogy of Value series (HERE, HERE and HERE), we explain that we deliver value-based services which make the often painful process of book-keeping a real delight. Is this actually possible, or are we making it up? Enter Receipt Bank Receipt Bank is an award-winning software add-on that converts all your bills, invoices and receipts into data, making it easy for you to send your financial information straight to us. Features With Receipt Bank’s flexible submission methods you’ll never lose another document as it’s simple to submit them instantly. You can submit in a variety of ways, choosing whichever are best for your business: Receipt Bank App (iPhone & Android) Email Post Dropbox …and more… Benefits Using Receipt Bank’s easy submission methods means that: You save time on sending in your paperwork, giving you time back to build your business You save space as there’s no need to store your physical documents You get all your financial data quickly and we are able to offer business advice based on a near real time flow of information I love it. How can I get it? If you’d like to get started with a leading edge accounting service which includes Receipt Bank, take a look at our service offerings for Enterprises and Professionals, and book a free consultation using the big red button below. About Aiteo Consulting Aiteo Consulting provides accounting, finance and advisory services to start-ups and growth businesses in the technology sector. By focusing on lean accounting techniques, intelligent use of financial data and a lifetime of experience in financial roles supporting technology firms, we provide a premium service to enterprises and... read more
The Trilogy of Value
Careful readers of our blog will have noticed, among the various important updates on topics such as security, budgets, and happy Christmases, an emerging theme has begun to … errm … emerge. In an earlier post (HERE), we picked up the gauntlet thrown down by our professional counterparts at KPMG and explained why Aiteo Consulting must be the accounting firm you are looking for. It’s definitely worth a read, and not simply because the Guardian Small Business Network described it as a ‘masterclass in blog writing’. @AiteoConsulting A masterclass in blog writing, well done! — GuardianSmallBiz (@GdnSmallBiz) October 23, 2015 In a follow-up post (HERE), which we can now designate as the second of a slowly developing trilogy, we introduced to you the idea of getting value for money out of your accountant – a task many find slightly more difficult than getting blood out of a stone. Your accountant should play the role of your finance director and should be central to your business. But what does that mean in practice? And if you hire us, how would we do it? So we come to the final step, and here’s hoping that, unlike the slightly more famous Hitchhiker’s Guide to the Galaxy trilogy, we don’t actually end up with five instalments. So let’s talk about value. Value means different things to different people (diffr’n’t strokes for diffr’n’t folks and all that). And in order to deliver you a service that you value, we need first to work out together what you’re looking for and tailor our service accordingly. In order to do this effectively and efficiently, there is... read more
CIMA Member in Practice Status – 2016
Confirmation of 2016 Member in Practice status from the Chartered Institute of Management Accountants.... read more
When should I hire an accountant?
Facing challenges as a growing small business? Maybe you’re looking for some extra funding and need to write a business plan. Maybe you’re weighing up the options about the right legal structure for the future. Or maybe you’re just ready to delegate, freeing you up to develop your business. If this is you, maybe now’s the time. Click through to our free guide, courtesy of our accounting partners at... read more
Happy Christmas
Whether you’re a customer, a partner, a supporter… …or one of those pesky spam bots that continually disrupts our Google Analytics… or even just someone we exchanged business cards with at Tesco… …may we wish you a very happy Christmas and a productive New Year! I heard the bells on Christmas Day Their old, familiar carols play, And wild and sweet The words repeat Of peace on earth, good-will to men! Till ringing, singing on its way, The world revolved from night to day, A voice, a chime, A chant sublime Of peace on earth, good-will to men! Then from each black, accursed mouth The cannon thundered in the South, And with the sound The carols drowned Of peace on earth, good-will to men! It was as if an earthquake rent The hearth-stones of a continent, And made forlorn The households born Of peace on earth, good-will to men! And in despair I bowed my head; “There is no peace on earth,” I said; “For hate is strong, And mocks the song Of peace on earth, good-will to men!” Then pealed the bells more loud and deep: “God is not dead, nor doth He sleep; The Wrong shall fail, The Right prevail, With peace on earth, good-will to men.” ― Henry Wadsworth... read more
Autumn Statement
With the dust settling on the first Autumn Statement to feature a quotation from Chairman Mao’s little red book, practitioners and laypeople alike have been scouring George’s blue book for elephant traps. Here’s our take: Working Tax Credits – public finances ride to the rescue The OBR has forecast an improved position in the public finances, giving the government the wiggle room it needs to drop its widely unwelcome plans to bring in an early phase-out of Working Tax Credits. WTCs will be replaced in due course by the Universal Credit anyway so the Chancellor’s previous master stroke of phasing them out has been replaced by an even bigger master stroke of dropping the whole plan. A lucky Chancellor indeed. Boom! A big hit for big business Big business will pay the cost of an ‘Apprenticeship Levy’. The Treasury’s blue book suggest that the take from this will be a whopping round £3bn rounded up. To put that in perspective, that’s a whole 7% of the existing Corporation Tax take. But this is not a tax rise. Oh no. It’s a LEVY. (We hope you can see the difference too.) In the round, the levy will apply to larger firms with an annual payroll of greater than c. £3m. But as with other stealth taxes we think big business will take a little while to come to terms with the stomach punch they’ve received. Woah! A near thing for small businesses There is a complete muddle at the moment between the intersection of travel & subsistence rules, intermediary legislation, employment status and close company rules on dividends. From the Treasury’s populist perspective, tax avoiders are hiding... read more
The Five Points of Crowdfunding
We recently attended a crowdfunding seminar hosted by Startup Direct and Paul Grant of the Funding Game. Simon, our Business Development Manager, was sent to make copious notes. So here’s his take on the Five Points of Calvinism. Err, sorry. Crowdfunding. Point 1: TALK Spend your time in this pre-prep phase generating contacts and talking to possible investors and buyers. This will serve two purposes: Your potential investors will feel more involved and in sync with your idea and vision. Then, when the time comes, they will be more likely to invest because this is their project, too. You’ll get a second opinion on your product or service. You may be working on false pre-suppositions about your target market and what they want. This will help you to find out more about the problem you are addressing. Point 2: UNITE This is where your real preparation takes place. You must drum up the promises you got from Point 1 and unite this into a sizeable committed line even before you launch your crowdfunding campaign. Your should have at least 40% of the funding for your round pledged before you begin your campaign. This will give your pitch more credibility when you launch because so many people have already chosen to invest in your idea. Point 3: LURE Reel ’em in! Use your campaign design to lure the remaining 60%, and never skimp on the work you put in before the campaign. A few things to keep in mind: Your message should be clear and simple, should have a summary of where you are, where you are going and what you need... read more