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    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    The 7 Strategies of SA’s Strongest B2B Sales Performers for 2021

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    3 Sales Strategies SMEs Can Borrow from SA’s Strongest Performers

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    SA’s Strongest Salesforces Focus on Value, Not Discounting

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    ThinkSales State Of B2b Sales In South Africa 2021 Survey

    Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

    Why SMME’s Need To Think Small

    Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

    Five Money Management Principles To Start 2021 On The Right Financial Footing

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      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      The 7 Strategies of SA’s Strongest B2B Sales Performers for 2021

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      3 Sales Strategies SMEs Can Borrow from SA’s Strongest Performers

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      SA’s Strongest Salesforces Focus on Value, Not Discounting

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      ThinkSales State Of B2b Sales In South Africa 2021 Survey

      Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

      Why SMME’s Need To Think Small

      Devastating Financial Gender Gap Has Grown: Women Are Better Investors, But Retire With 30-40% Less Than Men

      Five Money Management Principles To Start 2021 On The Right Financial Footing

      Trending Tags

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      See-Through Books

      ExpertHub Staff by ExpertHub Staff
      Jul 13, 2012
      in ExpertHub Today
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      See-Through Books
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      RelatedTopics

      The 7 Strategies of SA’s Strongest B2B Sales Performers for 2021

      3 Sales Strategies SMEs Can Borrow from SA’s Strongest Performers

      SA’s Strongest Salesforces Focus on Value, Not Discounting


      We’ve all heard about the catastrophic bankruptcy of Enron, and closer to home, Fidentia Insurance. In each of these examples lack of transparency was key in their undoing according to Kevin Phillips, managing director of Idu Software. While SMEs are not operating on the same scale as these companies, there’s still a lot to lose. Here are four pointers to make sure your business doesn’t make it into the hall of spectacular bankruptcies.

      1)Have a system in place

      That shoe box with a bunch of dog-eared, coffee stained invoices doesn’t count. We know that sole proprietor businesses are hard-pressed for time and their attentions are needed for things like bringing in the money. But that’s exactly where a proper system is vital. When things get busy it’s not uncommon for some accounts to get lost or forgotten about, that means lost or forgotten money. Often by the time something fishy is spotted it’s already 6 to 8 weeks old. Make the time to update and keep your records tidy.

      2)Use the right tools

      It’s that shoe box again. Business owners can’t expect their accountants to provide accurate information quickly if they are presented with a wad of disorganised papers. Accountability starts with you. For those businesses that can’t afford a full time accountant, consider a consultant with an online system that allows you to view your information as and when you need to instead of waiting for them to get back to you.

      3)Look to the now

      The perception that numbers come at the end of the month needs to be debunked. A long time ago accountants kept actual books and had to use pens and an abacus to generate information. This took time. It therefore meant that reports could only be provided some weeks after the end of the month. Now days, communication technology and software have closed the gap between input and output. You can now reasonably expect to be able to track during the month and get information much quicker.

      4)Be transparent

      It’s important to have more than one set of eyes on your books. If people in your company understand what is normal activity and what is not, when something goes awry your odds of spotting it quickly are much higher. Find ways of presenting your finance information to include non-finance managers.  It spreads responsibility and encourages interest and accountability. Avoid that air of mystery around your books.

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      ExpertHub Staff

      ExpertHub Staff

      ExpertHub’s award-winning team of Staff Writers deliver unique, insightful and curated content from successful business leaders, authors and subject matter experts. This highly-experienced team understands the information that business readers are looking for, what’s unique and impactful, and how to distil key ideas into actionable insights.

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