A sense of optimism buoys business for the upcoming year, but with companies still punchy from the financial calamities of the past few years, you'd better believe that growth and investment will be done with caution and a renewed circumspection.
This latest article on CFO.com shows some interesting statistics about how businesses are planning for 2014. How will this "lean growth" and cautious optimism manifest itself in how businesses invest? Well, we see two key areas where businesses can grow their systems and enterprise tools, while still keeping costs in mind and adding tremendous value.
Moving the Enterprise to the Cloud
First off, moving sales, financials and performance management to the cloud could be a decision both geared towards growth, but also with cost in mind. Cloud-based enterprise software is scalable and adaptible, but doesn't require the up-front costs or lengthy timetable of on-premise solutions. If businesses plan on growth in 2014 and are looking to upgrade their enterprise systems, moving them to the cloud would be a wise decision.
The second area of opportunity is in outsourcing back office processes. Instead of expanding or even creating in-house departments to handle accounting, payroll, IT and other no-core business functions, companies can outsource the activities they don't have the expertise or resources to handle on their own. This can help reduce the cost of expansion as well as increase efficiency. Leveraging the knowledge and experience of vendors that can truly focus on these processes allows organizations to focus on products, customers, and growth.
Gun Shy and Guns Blazing
In spite of past downturns, businesses of all sizes now have new tools to grow and innovate. 2014 looks to be a year where companies can be both bold and cautious. Investing in these new technologies will make growth less costly, and focusing on core competencies will allow companies to get the most from every aspect of their business.
AcctTwo is a leading consulting firm and reseller of cloud-based accounting and financial management software. AcctTwo’s sophisticated systems solve the issues growing middle market companies face today. AcctTwo also outsources back office processes, allowing clients to focus on the core competencies of their business. AcctTwo provides the people, processes, technology and office facilities to perform these functions, while allowing clients to collaborate interactively through an on-line portal.
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