Overburdened by business admin? Whether your time is spent filling in and filing paperwork, chasing late payments or accounting, the day-to-day running of a business can often take a lot longer than planned.
Indeed, recent research published by Sage found that the average UK SME spends around 71 days and £35,600 annually on all of these admin tasks. Unsurprisingly, this has a negative impact on the revenue, productivity and growth of these businesses with 40% of those surveyed struggling to make the admin cost savings necessary to stay competitive.
However, there are solutions to your administrative woes. By digitising business admin, you can save money by automating tasks, which can also help ensure deadlines are met and free up your staff. While many business owners view moving to the cloud as too complicated or time-consuming, you don’t need to be a digital guru to use modern software. By not digitising, you’re missing out on the potential to increase productivity, lower costs and focus on growing your business.
To fully understand the administrative burden currently holding back SMEs in the UK and the benefits of digitalisation take a look at the visual guide below or view the full breakdown on the Sage Advice blog.
Sage is the market leader for integrated accounting, payroll, and payment systems, supporting the ambition of the world’s entrepreneurs. Sage began as a small business and has grown beyond what seemed imaginable. Today over 13,000 colleagues now support millions of entrepreneurs across 23 countries as they power the global economy.
Valuable and practical advice in crucial business areas. No fake experts!
High Quality knowledge, fresh ideas, inspiration and motivation delivered for you
by a Community of experienced, honest and trusted advisers.
Latest posts by Editorial Staff (see all)
- Hubdoc to improve Xero integration with duplicate document detection - November 6, 2020
- Digital tax: what’s next? - February 3, 2020
- New Year, New Decade: Tech predictions for small businesses - January 7, 2020