Blog

Keep Up or Fall Behind: New Age Business

November 22nd, 2018

Choosing to hide from technological advances will only hold you back. And a lot of businesses are holding themselves back! Companies across all industries are beginning to adopt SaaS (software as a service) principles. Large companies using legacy enterprise systems are struggling to change as quickly as small smart businesses capitalise ...

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Smarter Business Advice # 2

September 26th, 2018

Where is the ‘hidden market’ for what you sell? One of the big opportunities for many businesses is the huge ‘hidden market’ for what they offer. Here’s a good example to get you thinking: A lady called Cindy Cashman saw an interesting idea a few years ago that took her fancy. The idea was for a book with the title "Everything m...

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Bad News for Big Firms – Late Payments On The Rise

September 10th, 2018

Did you hear? Late payment times for New Zealand firms have headed up over the last two years reversing a long downward run. That’s slightly concerning isn’t it? Have you noticed an increase in late payers in your own firm? They’re a hassle aren’t they. illion’s analysis of Q1 2018 shows the average late payment time for all busi...

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Confidence in Australian Businesses Dwindling

September 5th, 2018

How could that be? Well, Roy Morgan recently released the results of their Business Confidence survey for July 2018… and it was discovered that confidence in Australian businesses suffered a fall – for the third time in a row. Not only that, but the index was down for the first time this year – at 3.4 ppts lower than in July 2017. (...

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Chopsticks, Heart Surgery and Credit Management

August 10th, 2018

Our family has a regular weekend ritual – Sunday brunch, always at a different café. Since I pay we generally get a good turnout from our kids and their partners! Last weekend we found ourselves at funky little café that had an Asian fusion menu – so along with Eggs Benedict, there was Udon noodles, dumplings etc. Towards the end of a lov...

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“Slow Me” the Money

June 28th, 2018

In a recent article from New Zealand's Herald titled the ‘Worst months for small businesses’, some interesting 'late payment stats' arose from the release of Xero’s Small Business Insights Barometer across both New Zealand and Australia. The barometers aggregate data from hundreds of thousands of Xero subscribers in the small business cat...

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4 ingredients for safer payments!

May 29th, 2018

Are you currently compliant with credit card and online payment security? According to a 2017 survey by Verizon nearly half (44.6%) of companies failed to protect payment card data on an ongoing basis. Whilst this stat appears to be high, there is no need to go into panic mode just yet. We’ve put together 4 key ingredients to help your bu...

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Cold showers and growth?

May 2nd, 2018

I’ve been hearing the “G” word tossed around a lot recently. G for Growth: Personal growth and business growth both get a lot of “lip time”. But here is the thing.  Words are nothing!  Actions are everything. Late last year I decided to start taking a cold shower in the morning. Easy to say – hard to do.  (Try it). I’d have a conversation...

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One third of SME’s are suffering from Slow Payer Syndrome!

March 28th, 2018

Imagine you didn’t get paid for a month or two for your work... Big businesses have used this tactic to keep cash in the bank – but how long do our corporates take to pay? This is what Rebecca Stevenson had to say in a recent article from the spinoff website. Source: https://thespinoff.co.nz/business/17-02-2018/pay-your-bills-the-spinoff-...

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5 Tips For Better Cash Flow

February 15th, 2018

As you’ll no doubt realise, cash flow is critical to any firm. We understand that getting your hands on your cash (and then keeping hold of it!) can be difficult. That’s why we’ve put together these tips. We’ve used these successfully with our customers in the past, so we know they can help. How they’ll help you will depend on you and you...

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How your business can avoid the Christmas cash flow blues!

December 11th, 2017

This is the time of year that businesses dread – the summer holidays are nearly over and you’ve caught the cash flow blues. You might know the feeling… when you have bills to pay but your clients are still away, awaiting payment themselves or just struggling with their own cash flow. According to a recent survey by Xero and article from s...

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Business Concerns For Australian Accountants

November 28th, 2017

Bstar Australia recently produced a report for the accounting industry which highlights business concerns, strategic planning and growth initiatives for Australian firms. According to the report, (available here) the major theme for firms was business growth and attracting high-value business clients. While this research is Australian bas...

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Are your client events Memorable or Mundane?

October 31st, 2017

Sadly most customer experience events fall short of customer expectations. They follow the same pattern and deliver the same thing with clients feeling obliged instead of filled with anticipation at the idea of attending. You invest the money and time but the end result is lacking somehow. Does it truly achieve the deeper relationship you...

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Pay monthly via credit card

September 25th, 2017

Our online payment pages will receive an update this coming week. On the payment page’s you will now be able to see that a client can select to make payment to feeSmart or feeLink (as a monthly payment option) via direct debit and credit card. This will be rolled out to all payment pages over the next week. Please let us know if you woul...

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Why only 15% of firms successfully roll out business advisory services

September 21st, 2017

  BACKGROUND We all know the score; the entire world is banging on about how accountants need to roll out advisory services, how $400M of compliance income in Australia will be lost through direct lodgement, how financial planners and banks are converging on the Accountant's share of the pie, not to mention digitisation, offshoring and ma...

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Business Advisory Services

July 24th, 2017

Frustrated, underwhelmed or disappointed at the growth of your BAS (Business Advisory Services)? The three fundamentals to growing your BAS revenue stream There are so many compelling reasons to growing your Business Advisory Services. Here are three: Sustainability – given the growing commoditisation of compliance plus the ease of emerg...

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Online Payment Pages

May 23rd, 2017

Get paid faster with smartAR Online Payment Pages     Are you offering flexible payment options to your clients? Are these payment options in one easy to find location?   Recent research suggests that firms who offer flexible and easy to find payment options get paid significantly faster than firms who offer fewer pa...

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Better Debtors – The Seven Steps Most Professional Service Firms Aren’t Taking

April 24th, 2017

Do you have a debtor problem? Most partners and directors of professional service firms would say they don’t because most debtors do pay – eventually. So how did this come to be? Most of us know the theory of debtor management: calculate debtor days, measure cash flow cycles and develop an escalation strategy. That’s the easy part. What m...

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Outstanding Cash – How much is too much!

March 23rd, 2017

Most businesses do not measure the accumulation of late paying clients (outstanding cash). In business, we all know “Cash is King”. It always has been and always will be. Why then do so many companies still focus primarily on growth and profit, rather than on working capital (cash). Sure, profit is important, but positive cash flow is wha...

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Credit Test

March 9th, 2017

Please enter your email: Do you conduct credit checks on new clients?  Yes  No Do you conduct business reference checks with new clients?  Yes  No Do you Google or “check out” your customers before giving credit?  Yes  No Do you monitor the ongoing credit profile of your clients?  Yes  No Do you in...

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