Running a business can be challenging. With numerous tasks to juggle, from communicating with marketing or finance teams to hiring staff, getting everything done can take a lot of time.
In recent research by Plum Consulting and Sage, businesses estimated they lost 71 days each year to admin. That’s 14 working weeks doing nothing but admin.
Your staff process paperwork for a variety of reasons. So, for your business, how do you go about cutting back on this workload?
8 tips to reduce time spent on processing paperwork
1. Look at software
Several software options are available to help you cut back on admin, but they need to work for you, and you need to use them. Try them and see what works and what does not. They are likely to include CRM and accounting systems, so take your time and work out which one will work best for your business.
2. Try outsourcing
You don’t have to be the expert on all things.
It is always more profitable to gain sales than focus on administrative tasks, so you could look at outsourcing some of your admin. Make sure you outsource to the right provider – a complete business support service might be just what you need.
A business such as this will offer a wide range of services that you can tap into as you need them or provide a full back office that effectively runs the admin for your company.
3. Prioritize your work
Make sure you prioritize your tasks each day so you do the most profitable or productive things first.
4. Be aware of the time taken on admin
Track the time it takes you to do your administrative tasks over a month or so. It will probably be more than you think.
5. Spend some time on templates
Spend a little time building a bank of templates that you can tap into each time you need to contact a customer. These could include your letterheads, your quotes, invoices, and receipts.
6. Make sure your processes are in place
Decide how you will manage your late payers and invest in credit control activities.
7. Make sure you are contactable
Nothing puts a potential customer off faster than not being able to get hold of you. Think about investing in a telephone answering service, so not only do your customers get a personal service, you’re aware of who you need to contact and why.
8. Keep on top of your accounts
Regular time spent on keeping your accounts up to date pays off hugely in the long run. Get into a habit of putting receipts into one place to find them when you need them. Even better, with the right accounting solution, you can scan them with your mobile phone, and the info will appear in your software.
Getting started with reducing paperwork
Processing paperwork can be time-consuming and slow down the day-to-day running of your business. Although some paperwork is necessary, it’s essential to embrace the digital age and use AI or OCR to help with invoicing, receipts, or file storage.
Looking to invest in software that can cut down your admin time? Contact Yeo & Yeo Technology.
Information used in this article was provided by our partners at Sage.