Organisation is typically one of the top New Year’s resolutions for many individuals, and small business owners are certainly no exception. And while we’re practically in summer, and our resolutions are probably abandoned in the corner gathering dust – just like our gym membership card, it’s important to think about organisation in the workplace.
Nevertheless, getting your business in tip-top condition and making it easier to accomplish key tasks, can seem like a mammoth task. However, by focusing on just a few core areas of your business, you’ll be able to make substantial headway, get more done throughout the year and guarantee you’re not losing critical information. Luckily, AIS Software has come up with five steps that can help you get organised:
1. Sort Your Basic Business Documents
Every business owner needs to record essential business-related data. Some bare necessities to think about include:
• Your business registration documents
• Employer Identification Number
• Copies of business licenses from governmental or industry authorities
• Any documents related to incorporation or corporate bylaws
• Most recent tax returns and contact information for accountants and lawyers
• Insurance policy coverage and contact details
It’s a good idea to keep these documents in a safe or lockbox to guarantee that they’re easy to trace (and take with you) in case of an emergency.
2. Modernise and Update Employee Information
Business owners have a lot of data that must be tracked for employees. It’s important to take time to create a filing system. Perhaps one of the most mandatory steps to take is to have an employee management software program or update your current one. An employee management software program usually contains information such as:
• A basic employee information sheet with contact numbers, home address and any other vital details
• An emergency contact with current information
• Updated tax information, such as an FS3 form with the most recent employee information
• Copies of any certifications or licensing requirements
3. Track Customer Information
Ask yourself: How organized is my customer information? Think about whether it’s worth investing in some form of customer relationship management (CRM) software. This will not only help you keep the information updated and centralized, but any member of your firm can be given access to the details of the latest interactions. What’s more the service can be personalised accordingly. CRM systems support you in tracking contact information along with details about your customer point of contact, their purchasing behaviours, specific preferences and more.
4. Systematize Your Receipts and Financial Documents
A bit of organizing can help make time for other financial matters such as tax – and other financial times of the year – less stressful and thus more bearable. You need to create a system that lets you track all of your receipts and business expenses. Depending on your preference, options range from finance apps to physical folders. You need to determine the best way you can consistently file and label expenses so they can be organised and passed on to your accountant or bookkeeper with effortlessness.
5. Construct a Quick Business Continuity Resource
Disasters happen, from a weather-driven shutdown of your physical business location to a technology hack that leaves your digital operations in dire straits, putting it in slow motion. In order to get organized, a business continuity plan should be put together. Your plan should outline the most expected sources of an issue with your business.
To ensure that you’re doing the best for your business you need to first start with a plan to get organized. When your essential business info, customer data, employee information, financial details and emergency plan are straightforwardly available, you and your employees will be ready for any challenge (or opportunity) that comes your way.
We hope you found this blog useful and informative. To find out more about software development in Malta, contact AIS Software today.