Michael Lansdell asks “Are you ready to weather the economic storm?”
In ‘trying’ political and economic times, what should a dental practice owner – like any other business owner – be doing? Getting the right support has never been more important. Taking care of detail and making sure you are using tools that will improve your workflow are also essential.
In fact, now is the time to make sure all your systems and processes are fit for the challenge of running a successful and thriving dental practice. This is about giving your business the best chance of weathering any economic storms and even encouraging its growth. Whatever is going on in the world outside, patients always need dental treatment and will be looking for somewhere to go for high-quality care.
This means they want a practice that runs efficiently too.
Make changes to stay strong
One change that you could make is migrating to Cloud technology. Most of you will know what the general concept of ‘The Cloud’ is, but maybe you’re reluctant to use it for business, rather than just a place for storing your holiday snaps.
Moving to Cloud technology can save you time and money, both precious commodities for any dental practice owner. It is a reliable way of storing electronic data, including anything from patient to financial records.
Cloud accounting can transform a business and investing in it could be a canny use of your budget. It not only makes information more accessible, but also easier to share. Moving your accounting to The Cloud means that when you need to discuss a matter with your accountant, they can review documents quickly, whenever and from wherever they happen to be.
Historical data – so the kind of things you are never too sure whether you should be keeping, like old invoices and payslips – will be there too, stored efficiently, not taking up any office space and available to view at the touch of a button.
More secure than a filing cabinet
This all sounds fantastic, but high-profile data breaches have made many people reluctant to use cloud technology over security fears. Although cyber security is a hot topic and data hacks take the headlines, small business, including dental practices, having been using Cloud accounting without any problems for years.
After all, there are issues involved with keeping hard copies of documents too. Paperwork can get lost or destroyed by mistake. What if there is damage to your premises through fire or criminal activity? Having confidential information stored off site, by way of The Cloud, certainly has its advantages. Passwords and data encryption will also keep you safe.
Other concerns are that the software will require regular updates to keep it running smoothly and issues with staff training. But the best Cloud accounting systems will offer practices automatic software upgrades. They will also be easy to use by anyone you give access to, because Cloud filing systems are always more logical than cabinets.
So, to keep up with the competition and maintain an efficient practice, consider taking your accounting to The Cloud. There are some fantastic, good-value options on the market that will change the way you work forever – and for the better.
Is now really the time to be making changes to the way you run your practice? Yes, if you invest in systems that will make your business operate more smoothly, enhance the quality of service provision and make your practice a modern, forward-thinking place to work. A successful practice always looks at the detail and ways to be better, no matter what’s going on in the world outside.
Michael Lansdell is a specialist accountant and co-founder of Lansdell & Rose. He says: “Lansdell & Rose offers its dental clients a Cloud-based accounting solution as part of its accountancy and tax-planning package.”
Photo by Jordan McQueen on Unsplash