With the end of financial year (EOFY) on the horizon, most businesses in Australia will be looking to get a few things in order before July 1st. Whether it’s an EOFY sale for retailers; hosting corporate EOFY parties at bars and pubs; gearing up for a final big push for sales organisations; or looking for a charitable organisation who’d love to receive a tax-deductible donation, there’s plenty to do.
But this time of year is also a golden opportunity to take a look at your business critically, and see what you can improve. With your year-end reporting available, you can start the conversation with your advisor on how you can improve your business processes: whether you have room for growth and look to hire more talent, or you have opportunities to cut unnecessary costs, this is a great time to lean on the knowledge of the expert advisors.
One of the best assessments you can make at this time of year is to take a look at your software stack. What are you currently using in your business to automate processes, keep your staff and customers informed (and happy!), and save you time and effort?
Clinton Cowin from TradiePad shares his tips with Xero.