With all members of a business increasingly pushed for time, planning for the future can be hard to do. When your bookkeeper is successfully completing core tasks for your business, why go about expanding their input more strategically?
However, all too commonly, bookkeepers are viewed as bringing noticeable value when a crisis strikes, and their organisational prowess steers a business through choppy waters.
But this is considerably underselling what they can do. Why not empower your bookkeeper ahead of time to build a strong financial foundation and ensure crises never develop? For this to happen, a bookkeeper must be allowed to operate proactively, not reactively; only then will clients see consistent smooth sailing for their organisation.
The great evolution
It’s all too easy to view bookkeepers through an outdated lens. To do so harms both the individual and your business, as you fail to reap the rewards of what can be brought by an empowered bookkeeper.
Bookkeepers of old were traditionally expected to complete transactional tasks and keep their finger on the pulse of a business. While these are still key aspects of the role, bookkeepers are now also seen as crucial strategists with valued insights. This is due to the emerging significance of data, which bookkeepers are well acquainted with. As the embrace of technology grows, who better to provide a deeper understanding of your organisation and guidance on how to unlock all important growth opportunities?
Bookkeepers have the knowledge to lead this new frontier of financial forecasting; they just need business leaders to offer them the tools, the time and the seat at the boardroom table to make it a reality. This is why bosses must be ready to invest in appropriate tech to bring out the best in their bookkeeper.
The value in planning ahead
No organisation wants to find itself embroiled in a crisis, particularly one of its own making. There’s no doubt many businesses have taken hits, both financially and reputationally, for not prioritising strategic oversight. You can also mistakenly put your business on the backfoot or fail to prepare for a situation your bookkeeper may have foreseen via data insights.
Another type of crisis is looming; a 2023 study found that 90% of employers in the financial services sector are struggling to cope with staff vacancies and recruitment woes. This shortage can lead to overburdened staff attempting to pick up the slack, as well as increased stress levels and compromised work quality. If your output suffers, customers may begin to look elsewhere and the business suffers.
This is where upskilling may come into play. Empowering a bookkeeper can assist in plugging some of those more strategic gaps and ensure a business isn’t falling behind. Most importantly, the risk of crisis is extinguished before it even arises.
Unmissable value
Evidently, bookkeepers are invaluable when businesses encounter challenging times and that’s a comforting thought for any boss. But they should not be framed simply as financial firefighters. Those that do risk missing out on the depth of knowledge and expertise a bookkeeper can bring to the table.
For those who take steps to empower a bookkeeper from the outset, your business is immediately on a better footing. Not only are you future-facing, but growth is more likely and incoming storms are spotted long before they become a problem. Most importantly, a well-equipped bookkeeper can lead a business into calmer waters and steady the ship for future success.
