'With MYOB's Practice Management system, practice performance analysis is a very manual exercise. It involves paper-based reporting and needs spreadsheets to bring the right data together. All this takes many hours of professional staff time. The cost is prohibitive.
Resorting to spreadsheets to fill the gap provides an out of date and static snapshot. To answer questions, currently, you need to ask for more reports or spreadsheets, and all the time the data is getting older!
What progressive Practices are looking for is current data on a screen or in a report, available anywhere, anytime at the press of a button. Revenue, Productivity, and Performance against Budget are significant issues in Practices. Salaries are the major cost in the business.
Debtor Days, Work in Progress, Write-offs, and Lockup; that’s what keeps Partners awake at night!
Until Cerebiz, there has been no automated 'off the shelf' way to monitor these figures on-demand. Practices need this level of automation to produce information on time and at a realistic cost.
Managers need automated processes and the right tools, like Dashboards with KPIs and Alerts. There must be instant Drill Down from top-level right down into underlying detail to find the cause of variance(s). Also to be able to do this wherever you are at any time, including on your mobile device. It’s more like continually ‘working ON the business’ to improve performance.
Automated processes are the economical answer to improving the business. Alerts on issues to investigate, and continuous proactive team coaching to improve insights and advice are key. These provide high-value to both Clients and a Practice. The automation and process benefits should far outweigh the monthly subscription to the right system.
And these benefits are to be had every month into the future!'
Terry Rodoni, Consultant. Decades of background in local and national Accounting Practices. On RSM's executive committee for many years.