This blog post was originally posted on Austin Technology Council's weekend update on December 10, 2016.
While there are many factors that determine a company’s success that are outside of their control (the economy, competitors), there are many factors that they can control. One of the most important factors is how a company’s management team decide to spend their time. The more time they are able to spend on strategic evaluation and decisions, the more likely the company will be successful.
Now think about your time.
Are you spending your time being strategic or are you consumed by tactical decisions?
Think about what percentage of your time over the past week was dealing with seemingly routine financial and accounting decisions? 10%? 20%? 30%? Or more? If you are spending a good chunk of time on the tactical decisions, you may not be maximizing that finite amount of time you have every week.
Many companies are frustrated that that their top executives are wasting too much of their time dealing with financial and accounting decisions. These decisions include performing or managing transactional activities, trying to establish or fix basic operational processes, manually compiling profitability views, generating reports, calculating available cash and manually projecting revenue and profitability. These activities are time consuming and debilitating for a growth company. There is better way.
Over the past 10 years, our experienced financial team has developed our financial solution and a process that can correctly and efficiently make these financial and accounting decisions for our customers. While every company is unique, we have found that most of the underlying financial transactions are remarkably similar from company to company. This allows us automate your financial transactions as much as possible rather than creating them from scratch. The result is that your management team can focus on the strategic operation of your company and leave the tactical financial activities to Consero.
You shouldn’t have to reinvent the wheel over and over. You shouldn’t spend too much of your time “stuck in the weeds.” We believe that you should conserve your capital; whether it be money, time, energy or intellectual.