Accountants' New Year resolutions

By Steven Cox | 13th January 2016 | 3 min read

As we enter into a New Year, it is natural to evaluate what you have achieved in the past 12 months and to look for ways to improve. Many people will do this by setting themselves goals or New Year’s resolutions. Whether this is to get fit, learn a new hobby or spend more time with family, these resolutions help you focus your energy over the coming months.

This practice is normal in your personal life, so why not apply the same principals in your professional life? With a new year comes a new set of challenges and obstacles to overcome. Preparation is the key to success, and setting goals or resolutions for your organisation is a great place to start.

To help you on your way, we’ve put together the top 3 resolutions that we would encourage UK Accountants to thinking about setting for their practices: 

Embrace the cloud – Many Accountants in the UK are already reaping the benefits of utilising the Cloud in their practice, but there are still a vast number who haven’t even contemplated it yet. In the last 2 years, the emergence of the cloud has been prolific – in fact nearly 90% of businesses in the UK are now using some form of cloud based service. And, unsurprisingly, this is set to continue even further throughout 2016. 

Technology is changing at such a fast pace, you need to be able to adapt in order to keep up with changing trends and new requirements.

Cloud solutions can offer you greater security for your data, allow you to ensure your software is constantly up to date, save you money and increase productivity. But more importantly gain a competitive advantage over your competition who haven’t embraced these new technology advances to collaborate better with clients.  Why not take a look at the vast number of cloud solutions IRIS has to offer, including IRIS OpenSpace which is free to all IRIS customers.

Invest in training – Get the most out of your software. The return on investment in your software is directly related to your knowledge of how to use it. 

You only get out what you put in - you could have the best possible piece of software for your business in place, but if you don’t fully understand how to use it you will not be using it to its full potential and will therefore be wasting money.  

This year, make sure you regularly refresh your knowledge on the software you use. Commercial software can regularly undergo updates, to ensure it offers the functionality and compliance you require.  By attending training, you can ensure you are making the most of your software, maximising your return on your investment in IRIS. Click here to find out more.

Make compliance work for you – Over the last few years, the rate of compliance changes has increased. 2015 saw some major changes in legislation, including the new UK GAAP, AutoEnrolment staging for the bulk of UK businesses and HMRC’s announcement of the ‘death of the tax return’ with their digital tax account platform.  And this 'tsunami of legislation' is set to continue in 2016.

But accountants shouldn’t be afraid of the changes, they should embrace them.  Take AE for example, the majority of your clients will come to you for advice so you need to be prepared! Why not take a look at our AE kit bag on how to use AE as a revenue opportunity for your practice.

What are you resolutions going into 2016? Take our one minute survey and let us know.

Good luck with your resolutions!