Time Management and Discipline are Key for Success

Time Management and Discipline are Key for Success

There are a number of important elements that ensure that a company’s accounting efforts are effective and efficient, and support growth and viability. Today, I want to take a closer look at two more key components: time management and discipline. Only by committing to both can a business leader make sure the company’s financial situation stays on track.

Time Matters

Dedicating the appropriate amount of time to various tasks can be challenging as decision makers have a lot on their plates on a daily basis. With so much going on, and with so few hours in the day, it is possible that some things can get pushed to the side. One task, in particular, that many business owners struggle with is managing the accounting work required to run business efficiently. Most owners are not accountants, so they naturally focus on tasks that inspired them to start the business in the first place. Without a good accounting support and detailed information, challenges wind up unaddressed, and can snowball over time.

One of the best ways to avoid looming accounting debacles is to set aside a specific time each week to focus solely on accounting matters. When owners have dedicated time each week, they will able to address issues early, before they become big problems. In addition to getting the jump on problems, decision makers will have insight into the firm’s financial situation at all times. This is essential for ensuring that companies take advantage of opportunities as they arise. There is no way for leaders to make the best choices for their organizations if they don’t have a clear and accurate view of their financials.

Related: 3 Ways to Drive Business Growth

Discipline is Needed

Obviously, setting aside time to focus on accounting issues is only effective if business leaders actually stick with that plan. Additionally, owners need to have access to accurate budgets and be able to regularly compare their actual results and make adjustments as circumstances change. Accounting software can make a big difference here. Comprehensive, cloud based accounting solutions allow the business owner and team to do the detailed analysis needed. This in in turn allows them to develop short, medium and long term strategies and track progress over time.

Dedicating the time necessary to manage financial matters, coupled with the discipline to adhere to a schedule and enjoy meaningful access to information, are critical for long term success. The companies that choose to tackle the hard work of time management and financial discipline are always better positioned for success than those that make accounting and financial management a low priority.

Can you think of any other key components that business leaders need to commit to in order to keep track of the financial position of the company?


Financial controllers are increasingly taking on the role of financial operating officer. You’re ensuring that finance runs smoothly and that there are not surprises on audit day.

But what does “running smoothly” really mean?

Download this eBook to learn six ways that today’s best-in-class controllers follow to successfully meet and overcome challenges in the profession. 

IT Solutions for Staffing Companies

IT Solutions for Staffing Companies

Challenges Staffing Companies Face

When your business grows, you should celebrate, not suffer. Tell that to the finance team that’s trying to make your entry level accounting software and reliance on Excel spreadsheets work in a much more complex environment. Your employees may also be relying on spreadsheets to manage central processes. You may be struggling with disparate operating systems that create multiple versions of information and from multiple locations. This can in turn prevent your employees from having real time visibility into data. Consequently, this also prevents you from having real time insight into your pipeline, cash flow and business trends. Your burgeoning back office may be requiring more and more human and financial resources which you would prefer to deploy elsewhere.

Cloud Based Solution

If these are some of the challenges you are experiencing, you may want to consider utilizing an integrated cloud based management system. As a result, you have access to consistent and centralized data for you business. Most noteworthy, this allows your employees to view and share the same data – wherever they may be located. By connecting your employees throughout your organization to a single source of information, you can dramatically increase efficiency, reduce errors and eliminate redundancies.


Related: 5 Top Benefits of Cloud Technology

Cloud based management tools cost 77% less than onsite IT systems

You should consider switching to a cloud based management system if you have the following needs:

  • Integrate and automate your accounting and financial management systems
  • Access to information by job order/applicant/industry/placement/division in real time
  • Alternative payroll reporting and multi-location reporting
  • Automated A/P with online approval and payment

 If you’re interested in learning more about financial planning in the cloud, download your free copy of our eBook below!

The Nine Circles of Excel Hell

Discover why financial planning and analysis belongs in the cloud!