How can compliance be made easier?

How can compliance be made easier?

In a recent blog, whilst complimenting the financial conduct authority (FCA) on a quality publication, the CEO of the ICM said how two recently issued compliance documents were 40 pages and 646 pages respectively. Philip King went on to add that he did not envy the job of a compliance manager on that basis.

So what about the companies that do not have a compliance manager? Where the financial controller or credit controller has to try and divulge this information whenever it should be drafted or arrive on email from the FCA? Philip’s blog, which can be read in full here: http://www.icm.org.uk/ceoblog/rule-thumb-blog-philip-king/ points out and pokes fun at the fact that one of these FCA documents has four pages set aside for abbreviations alone. Whilst the CEO of the ICM says how the writing style is good, plain English, easy to follow to read, the blog highlights that this was issued at the very end of February by the FCA. Guidelines within effective from the 1 April in the same year. Nearly 700 pages of information for a company to read, digest, implement strategies around to change policy and procedure to ensure compliance, in just one short month. No wonder Philipp says he doesn’t envy a compliance manager!

Using the right software can help. Safe Financials and Safe Credit Control software for instance is powered by Safe, kept abreast with the latest regulatory and best practice changes. Those using Safe software are updated with software updates, user manuals, and offered training courses. Having Safe software in your business could really help take the pressure out of financial regulatory compliance. To find out more visit www.safe-financials.co.uk or www.safe-creditcontrol.co.uk. You can also call 0844 583 2134 or email info@safecomputing.co.uk.

Green shoots of recovery for UK businesses and the economy

 

Green shoots of recovery for UK businesses and the economy

In a blog response to budget announcements, ICM CEO Philip King talks of the good news coming out of the UK government for business, and the green shoots of recovery for the UK economy. Philip states how he sees the controversial pension reforms as a positive change, and predicted statistics for the 2014 UK economy as very encouraging.

Quoting the creation of 1.5 million jobs in the next five years and grants for 100,000 more apprenticeships, Philip sounds quite positive about the direction of the economy. You can read his blog in full here: http://www.icm.org.uk/ceoblog/calm-seas-fair-wind-blog-philip-king/. It certainly seems to echo the thoughts of many that the UK economy is certainly recovering after a tricky few years. News reports such as this: http://www.bbc.co.uk/news/business-27047966 only the other day talked of the first signs that wages might finally be increasing disproportionally better than the costs of goods and services for the first time in many years. There seems, however, to be a difference of opinion over whether this is four or six years of history. Either way, essentially, soon the working man or woman, should start to find that impact of the positive echoes of the economy in how far their day to day pay packet stretches. A pay packet that the office of national statistics believes is currently increasing annually by two percent in the private sector. In the same report, the office  states how the figures for unemployment have fallen by 77,000 in the last three months. It certainly would seem to be the beginnings of a much needed boom period for UK businesses.

While growth is key, so is keeping on top of your finances while growing, especially if you’re nurturing the cash flow of an SME. Cash flow can be king, and over stretching funds outwards whilst not getting enough back in, can quickly see a business fall below the agreed overdraft line and into closure. Software tools such as Safe Financials and Safe Credit Control can help business keep the books in order, reduce debtor days, and keep payments processing through the business. To find out more about these products, visit www.safe-financials.co.uk and www.safe-creditcontrol.co.uk, email info@safecomputing.co.uk or call 0844 583 2134. 

 

 

 

Grow with pay as you go payroll and accounts

Grow with pay as you go payroll and accounts

One of the major problems when growing any new venture is cash flow. Do you have more coming in than going out? Initial capital is hard to come by, and often goes quickly on premises, equipment, staff wages and a plethora of other aspects of running your own venture. What if there was some aspect of what you had to do that could be pay as you go rather than a steep initial outlay?

Well when it comes to running your payroll or sorting out your accounts there is a way to just pay for what you use, as and when you use it. Payroll and accounts outsourcing services allow you to pay as you go, only paying for what you need, when you need it. An added bonus to using such a service for accounts, is that your cash flow headaches will be further eased, by a team of credit controllers and clever credit control software chasing payments for you and reducing debtor days. Less debtor days means less use of your capital or credit, less funding needed, less interest eating away at your profits or stretching your resources.

One fear often mentioned in relation to using such services, is a loss of control. Using a provider such as Safe Outsourcing, means you can access the software that powers the service online via web portals and check in on the work carried out for you at any time. With this system it’s almost the same as walking around your office and checking on your own team, just in a remote location and a virtual environment.

One such provider is Safe Outsourcing, who support growing businesses and well established large blue chip clients who want to pay as they go and not have the hassle of managing in-house. If you’d like to find out how Safe Outsourcing could help your business, visit www.safeoutsourcing.co.uk to enquire online, email info@safeoutsourcing.co.uk or call 0844 5832134 now.

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