Boosting productivity within the accounts department is no easy feat. After all, such departments are usually pretty relaxed environments and not many accountants have loads of pressure to deal with, apart from in tax season. With that said, accountants still work hard and get their work done, but they can still do more. If you’re looking to boost productivity within your own accounts/finance department, consider the below tips that’ll help you do just that.
Proper Training Is Key
Accountants with a masters in accounting (online MACC) always have the knowledge and experience to propel businesses to the top, but not all accountants have gone down that route. Some accountants have experience of working in other sectors, and they’ve more or less fallen on their feet in an accountancy role. Therefore, it’s imperative your accountants all have their qualifications to help the department flourish.
Automate Fiddley Manual Processes
There’s plenty you can do to automatically undertake those fiddley manual jobs that take time to complete. Using the right accountancy software is a good start, but you can do more when it comes to automatic business processes. By introducing the latest BPMS (Business Process Management Software), you can ensure your accountants aren’t wasting time with the manual processes that can easily be made automatic. Look at the latest BPMS here to see which suits your business needs.
Implement Strict, Short Deadlines
Consider implementing stricter, shorter deadlines to increase productivity. You don’t want to pile too much pressure on your accountants, but you can still get them to dig a little deeper as far as their working efforts are concerned. If they have one week-long deadline for a typical accounts project, consider making it one day shorter if you feel they can get the work completed quicker. They aren’t going to like you for it, but it’ll help increase their workloads and they’ll often get a lot more done. Simple implementations like this could boost productivity and save you the cost of hiring new accountants in the future.
Provide Performance-Related Bonuses
All employees are willing to do more if they know they’re getting paid extra for doing it. While you may already pay an arm and a leg to have your accountants work efficiently enough, a bit more on top of that in terms of performance bonuses could have a positive impact on increasing it further. For example, those who complete their workloads quicker than others so they can take on more work should have more benefits than others. A bonus doesn’t necessarily have to be a cash bonus, but it could be something like an extra day’s holiday, or along those lines. Anything that can be described as a reward for hard work will almost certainly increase productivity.
There is sometimes nothing you can do to increase productivity, but the above tips will definitely give you the best shot of doing exactly that. It’s also wise to note that, although some employees aren’t as productive as others, they do make up for that with professionalism and good work ethics, so less productivity isn’t always a real issue.