Tag Archives: Finance

The Time Efficient Payroll Support

While a payroll system might be one of a business’s most important functions, it can also be one of its most expensive. Good payroll systems keep the wheels of industry turning within your workplace, and not only do they ensure that your staff get paid on time, but they can also be used to manage your company’s accounts.

In addition to the expense, keeping a good, accurate and efficient payroll service can be extremely time consuming and, when it comes to business, time is money. There are, however, a number of tips you can follow to reduce the impact on the company coffers and the hours you spend on making your system work.

1) The best thing you can do is get to grips with technology. Payroll software turns a manual task into an automated and streamlined system, leaving minimum chance of human error. Most companies use payroll software, reducing the time and money spent on maintaining the service. In addition, good payroll software will have other functions, allowing you to keep a tab on the accounts at the click of a mouse and merge all your databases to gain an easy-to-read overview of your company’s spending. That’s going to be vital when it comes to deciding whether to implement pay rises or when streamlining might be appropriate. You don’t have to have an accountancy background to use one, as all the jargon is removed, meaning that even if you’re a one-man band, they can be simple to use.

2) Break it down to the basics. Many SME owners make the mistake of initially trying to include every detail in their systems. That’s fine if you’re using payroll software, but a real headache if you’re trying to do it manually! If you’re using the latter method, then try and keep the system as simple as possible. This will be reflected in your business policies, such as how the company approaches paid time off, attendance issues, commission and reimbursed expenses. Make your policies as simple as you can to begin with; there’s plenty of time to add further detail as you grow later on.

3) With cheques being slowly phased out, you might as well stay ahead of the game. Many businesses use electronic payment systems such as BACS to pay their employees. Much like payroll software, it means you can call up details of payments to staff and suppliers relatively quickly. However, unlike payroll software, it won’t allow you to track your company’s spending behaviour, but it will make your accounting a bit easier. In addition, eschewing paper in favour of technology can save you some cash. The Office for National Statistics estimates that businesses can save around £100 per year by using electronic payment methods rather than the company chequebook.

A good payroll system is vital to keeping on top of the financial aspects of your business and for keeping your employees happy. In order to make sure yours is time efficient, you’ll need to embrace technology, good planning and a little common sense.

Robust customer support through the new 0333 Telephone numbers

Any business will go through a huge loss if there is a communication breakdown. Your business will attract customers based on your products and prices and what they prefer, but you keep your clientele through service.

0333 NumbersOne very vital aspect of providing good service to your customers is by providing robust customer support. It is very important to have an online connection with your customers through internet. They should be able to get answers to all their queries through email or by phone. A majority of the people will prefer to talk on the phone and get their queries resolved instantly. And they don’t want to pay a lot of money for such calls.

You can have your customers reach you over the phone at a very economical price no matter they are calling from which part of the world. You can give them a non-geographic phone number and they will be in touch with your customer care department. If you choose 0333 numbers, a person from anywhere in the UK will reach you at the price of a standard phone call. When you choose a 0844 phone number, the caller won’t have to pay any charges at all. This will be a very inexpensive way to promote the good will of your company.

With the help of the new numbers, you will be able to get a lot of new customers. The variety of choices in 0333 or 0844 numbers affords a tremendous advantage to businesses. The phone number that you choose for your customers to dial should be very easy to remember. Many potential customers will see your advertisement on the television or heat it on the radio and they will want to call you asking for more information. You want to have a number for your business that they can easily remember and it does not get written down, especially when you are driving. This way you won’t lose the calls of your clients. These 0333 or 0844 phone numbers can be easily routed to your land line through VOIP.

Once you are in contact with your customers, you can give them feedback, support or expertise requested. With a very good customer support, you can always draw in new clients and do business with them. A good communication is very important for your business to do well.

Making money with 0845 numbers

There are many firms in the UK who have been utilizing the benefits of 0845 number and making good profits. 08 series of numbers includes 0845, 0800 and 0844. Sometimes, there are many confusions in the minds of the common people and the business owners about how this number works. So it will be a good idea to understand more about it.

The 0845 numbers can be redirected to a landline or a mobile number.

When the 0845 number is dialed from a landline, the the owner of the 0845 number pays the minutes at a local call rate. The rates can vary from one phone company to another.

Its normally free for the owner of a 0845 number to receive calls if it is redirected to a landline number.

One of the most important reason why almost all the business owners are connecting to a 0845 number is because when the number is redirected to a landline, they can enjoy all the features and benefits that comes in the 08 range number and they don’t have to pay any charges for the incoming call. In the current economic market, it is very important to have a control on your business phone costs.

Nowadays you can run a business from any part of the world. In order to make a good amount of profit, it is important to have more income and less expenses, 0845 number is one of the best ways in terms of saving money and prosper.

The business owners and marketers can use these 0845 non-geographic numbers to track measure the relative effectiveness of different advertising mediums. This tracking system works when a unique 0845 number is put in each printed advertisement or web listing.

Your 0845 number provider should have a system in which you can keep a track of all the calls coming to your unique number. This will help you to determine the volume of calls on each of the 0845 numbers showing up in your advertisements and web listings. In other words you are able to quantify the response from each scrap of advertising that you have.

Smart Finances

Useful and practical financial tools are essential for both everyday life, and your future. By far one of the most popular tools are credit cards . By making your payments responsibly, and on time, your finances can enjoy a wide range of benefits. For example, you can use your credit for both every day purchases, or you can transfer your balance and enjoy an interest free introductory period. Not to mention the various reward schemes, intuitive repayment hierarchy, and other features that can have a positive impact on your overall finances.

Many people, when considering a credit card, are looking for a balance transfer. By doing this, you can make the most of an interest free period, where your monthly payments will go entirely towards repaying your credit. This is a rare opportunity, one which can turn your finances around for the better. Make the most of this period by choosing a card that offers a longer introductory offer, and make more than the minimum payment required each month. In doing this, you can make a significant dent in your credit balance, and benefit from the financial rewards that you can receive.

But there is more to interest free credit cards than just the introductory period. The latest cards offer more than just an attractive balance transfer offer. You should have the highest standards when choosing your credit card, which means comparing features and benefits. For example, discount and reward schemes should provide you with options that are worthwhile, meaning benefits you can actually use, whether it’s on everyday purchases, a holiday, or another interest of yours such as a gym membership. Credit card companies now offer a unique repayment option which is particularly useful, providing you with a long term financial solution to credit repayment. Rather than just simple monthly payments going to your overall balance, your credit will be divided and prioritised based on interest rate. Those with the highest interest, which are the debts that are costing you more in the long run, will be paid off in whole first. This is a smart solution to credit repayment, and provides you with an opportunity to organize your credit, and repay it responsibly and promptly.

Use these financial tools to organise your finances and maximize the rewards you can receive when spending. Credit is one of the most convenient and useful financial tools you can use though care must be taken to ensure you spend responsibly.

Start up finance for your new business

The most important thing that comes to mind when you are going to start up your own business is how to arrange the start up business finance. There are lots of funding options available, which are mainly categorized under debt finance or equity finance.

60% – 70% of all new business ventures usually visit their local banks making the first attempt to arrange funds. When you take a loan from a bank to start your business, it comes under debt finance. This type of loan has to be typically repaid back at an agreed interest rate on the principal amount. Banks give out the loans to the borrowers by keeping their asset as collateral. If the business fails and the borrower is unable to repay the loan, the bank can then claim the asset.

When you have taken the loan from the bank as a debt finance, you become locked into a tight payment schedule and this can often be a problem for the small businesses when they are not able to generate more income than expenses during a period. There are also some other forms of debt finance which have started to gain popularity in the small business sector, such as credit card and leasing. The term leasing refers to the borrowing of money to buy specific equipment or machinery. In this case, the borrower works out repayment arrangements with the store from where the equipment is purchased.

Remember, when you chose the debt finance method for your business, you are mainly borrowing against your reserves rather then giving someone ownership of your shares. Therefore, always keep in mind on the aspect of funding that is right for your business. Don’t take loan from anywhere when you are sure of not able to repay back on the specified terms. Now, if you are in such a situation, you will think how to start the business. To answer this predicament, I bring to your attention, equity finance.

Equity finance is often taken as being risky capital, however it has been the savior of many small/new businesses who are either turned down for a bank loan or can’t keep up with the monthly repayments.

In equity type of financing, there is no guarantee for the investor that if he puts his money, he will get his money back. The big advantage however is that the money that is invested into your business from equity finance never has to be repaid. Those who have invested money into your business are well aware of the risk capital in return for a growth share of your business profit.

The investors will provide you the money that is needed for your business and to cover all aspects of the start up costs such as rent, purchasing of equipment and staff wages as well as making payments of your utility bills for the first few months.

Make sure that you have planned about your business venture in the proper manner and you know well in advance how much money will be needed to start up the business. You don’t want to increase your debt to income ratio in the coming days because of bad decisions.