International Everest Day is observed every year on May the 29th. It honours the historic ascent of Mount Everest by Sir Edmund Hillary and his sherpa Tenzing Norgay. It’s a celebration of the limitless potential of the human spirit and how with the right level of planning, teamwork, and focus almost every challenge can be overcome.
We all have our mountains to scale in life, our dreams, ambitions, or personal challenges. You may have long-term goals for your business that in the short term seem impossible to achieve.
Yet, you wouldn’t attempt to surmount Everest without:
- Proper planning
- The right tools
- Experienced support
So, why would you attempt to grow your business without the same level of preparation?
Sage financial management software, such as Sage Intacct, could provide you with the right base to strengthen your company’s key processes, forecast for the future, and ensure it’s ready to conquer any obstacles along the way.
Read on to learn how preparing your business for long-term growth is similar to climbing Everest, and how Sage software could provide you with the tools needed for your journey to the top.
1. Strategic planning is essential, whether you’re growing your business or climbing a mountain
You’re unlikely to want to attempt to ascend Everest without a plan, the end result could be deadly. You’ll likely spend a great amount of time training, getting in shape, and ensuring you’re in the best possible condition for the climb.
You’ll probably map out routes, consider timings, and set objectives to ensure you reach the peak in a safe and efficient manner.
Planning for your business’ future will follow many of the same steps, whether it involves:
- Setting short-, medium-, and long-term objectives
- Using modelling and budgeting to build a road map for your finances
- Ensuring your financial systems are as streamlined and efficient as possible.
Sage Intacct is an Enterprise Resource Planning (ERP) system with powerful modules and features, such as:
Planning, which assists you with creating budgets, forecasting cash flow, and developing custom scenarios to help you prepare plans for potential outcomes
Cash management, which allows you to review and amend budgets using real-time data
Automation within Core Financials, which ensures your regular financial processes are streamlined, reducing the potential for human error and saving you valuable funds.
Sage Intacct can help you optimise your business, so that it’s operating at maximum efficiency and ready to take on the additional pressures that come with growing your business.
2. You’ll want the right tools at your disposal, whether that’s an ice axe or Sage software
If you’re planning on climbing a mountain, you’ll likely want to invest in the right tools and gear. You’ll also probably not want to forget anything before your climb, cut corners, or purchase cheap tools to save money — you’re going to be reliant on them to get where you’re going in one piece.
If you want to run a successful and profitable business that is setup for long-term growth and scalability, you’ll want to have the right equipment, software, and infrastructure in place.
Investing in a cloud-based financial management platform, such as Sage Intacct, could help you to:
- Reduce the costs typically associated with onsite computer hardware
- Modernise your business with the added flexibility and speed that a cloud-based system provides
- Expand your business’ reach with Sage Intact software being accessible anywhere, at any time (provided there is internet access).
Sage software also comes with a wide range of financial tools that are designed to help you get the most out of your business, such as:
An intuitive dashboard that boosts visibility over your finances and helps you make smarter decisions based off in-depth reporting insights and real-time data
Accounts Payable (AP), Accounts Receivable (AR), and Purchasing, which provide you with greater control over your income and expenditure
Billing, which allows you to quickly sort project costings, helping you to reduce costs and increase profitability.
Sage Intacct can also seamlessly integrate with useful third-party software, such as Salesforce.
If you’re planning on growing your business, make sure you have the strongest financial tools at your disposal to ensure you keep costs down, while driving up profits.
3. Taking steps to reduce risks and errors can benefit both businesses and climbers
Over 340 people have died on Mount Everest since records began, with many of those bodies remaining on the snowy Nepalese slopes. It is a perilous climb, and smart climbers will spend time assessing the risk involved with:
- Certain routes
- Times of the year and weather patterns
- Challenges faced on the climb, such as a lack of oxygen, low visibility, and the potential to slip and fall.
Climbers will likely prepare a wide range of contingency plans and emergency fallbacks to ensure they are able to quickly adapt to any unexpected challenges and get back to base camp safely.
Smart financial software could help you budget for potential scenarios and insulate your business from:
- Short-term instability caused by external macroeconomic financial pressures
- Unexpected workplace challenges, for example, damage to key equipment or the loss of a client.
The automation within Sage Intacct also streamlines many regular processes, eliminating inefficiencies, and reducing problems arising from human error.
Adopting Sage as your financial management software of choice could be the step that helps your business overcome future challenges and continue on the path towards reaching your long-term growth goals.
Read more: Why Sage software could help you boost cash flow during Donald Trump’s trade war
Sir Edmund had Tenzing by his side — make sure you have an experienced partner by your side on your business’ journey to the summit
In 1953, Sir Edmund Hillary didn’t reach the Everest’s peak on his own. He had the experience and support of the Nepalese sherpa Tenzing Norgay by his side. He also had a British Everest Expedition team consisting of more than 400 porters, guides, and other experts that helped with the planning of the climb and the stages that took place prior to the pair reaching the summit.
At Solutions for Accounting, we believe in building long-term relationships with our clients, so they can rest assured, whatever challenges they face, they’ll have a supportive partner to answer their queries and suggest actions.
Our team of experts are on hand to answer any questions you may have, offer product demos, and provide ongoing technical support, so that you get the most out of your financial software. Get in touch today by emailing enquiries@solutionscloud.uk or calling 0115 840 5075.
Remember: We’re here to support you on your company’s journey to the top.
