Digitisation - Systems and Certainty
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Digitisation business intelligence is essential for analyzing data and facilitating informed decision-making for businesses. The document emphasizes the importance of transitioning to digital systems to automate finance tasks, enhance cash flow, and ultimately save time and money. It highlights Scotland's low R&D expenditure relative to other countries and encourages business owners to leverage digitisation for greater efficiency and value generation.
Digitisation - Systems and Certainty
- 2. DIGITISATION
- 3. Business intelligence (BI) is a technology-driven process for analysing data and presenting actionable information which helps executives, managers and other corporate end users make informed business decisions. ammu - Data Analytics & Blockchain Accreditations
- 4. As you will see, from the graph below, Scotland’s overall expenditure on R&D as a percentage of GDP is low relative to comparator countries. This indicates Scottish firms are still not maximising their potential from R&D. Source: OECD:Scottish Government: towards a robust, resilient wellbeing economy for Scotland
- 5. What Do We Mean By “Digitisation”? - Digitisation is the process of converting information from a physical format to a computer format - Using software as a digital filing cabinet - For example, taking physical hard copies of purchase invoices and storing them in a digital location
- 6. Why Digitise My Business? - 92% of the finance function can be automated saving you valuable time and money - Covid-19 has thrown up accessibility issues and work pile ups because staff can’t access systems from home - Gain confidence from the information which aids with decision making - Improve your cashflow through automated payment collections
- 7. - The truthful answer is VERY - Transition to a cloud based system like Xero takes a matter of hours - Routine, every day finance tasks can be then automated saving days worth of time - Simple training programme – 2 or 3 30 minute sessions only How Easy Is It To Digitise?
- 8. - Sales invoices automatically raised and sent to customers - Payments are automatically collected from customer through GoCardless, Stripe or Paypal What Tasks Can I Digitise?
- 9. - Purchase invoices are fetched, optically read and sent to your cloud software - Bank statements automatically imported - Bank transactions, invoices and receipts intuitively matched What else can I digitise?
- 10. What Next? Go Beyond! - This simple automation of routine tasks is just the beginning! - Go beyond with EPOS systems, stock systems, project management systems - Integration is key to reducing time & costs
- 12. Digitisation Opens Doors… - Digitisation creates a ball of timely and accurate information waiting to be used - Time saved opens doors to analyse and understand the information - Understanding what’s going on helps to drive the business forward
- 13. Key Takeaways… - Digitisation of your business saves you time and money - Transition to digital systems so simple and quick – automation starts within hours! - 92% of bookkeeping can be digitised including data collection & processing - As UK/Scottish business owners – awareness of the need to invest in Business Information - Go beyond the basics and create real value, make informed decisions and drive your business forward!
- 15. Thank you!