Skip to main content
  • Who we help

    Our range of services are tailored to suit each business type

    If you're just starting out with a new business venture or if you already have an established business, we can help.

    Our accountants are very experienced in helping new businesses grow and also using their accounting expertise to help established organisations. We also have a history of working with contractors and freelancers, helping them through the year with business accounting and advice. Review some of our case studies here

    No matter the size of your business; an individual sole trader or a limited company with employees, we have an accounting service just for you.

  • What we help with

    For all your tax and accounting affairs, we have it covered.

    Let our accountants take care of your business accounting, giving you more time to concentrate on growing and running your business.

    We provide all of the services necessary to handle the accounting and taxation requirements for your business. Our accounting services include: Bookkeeping, Payroll, Tax Returns, VAT and Accounts Production. All the services you will ever need under one roof.

    We also provide unlimited business accounting support throughout the year, you will always have access to your dedicated accountant whenever you need it.

  • Newsletter sign up

    Get the latest info from us

Inefficiency and Duplication Top the Business Time-Wasters Table

man looking at wristwatch

Business leaders name inefficient processes and duplicated efforts as the biggest culprits behind wasted time, says a report commissioned by Portfolio and Resource Management solutions company Planview.

The report, Powering Productivity: How Business Leaders Are Using Technology to Drive Efficiency, is the result of an international study undertaken by research company Loudhouse, who surveyed 515 business leaders and key decision makers from the US, UK, Netherlands, Germany and the Nordics.

A Core Issue

The research revealed that the chief cause of wasted time during the workday is inefficient processes (44%), followed by paperwork overload (43%) and meetings (41%). Other contributing factors are poor communication and travel time.

These efficiencies affect not just employees but customers too, Loudhouse found, potentially leading to retention issues.

“Productivity losses are not just a problem for the management team. Both employees and customers are likely to be the ones who suffer as a result of inefficient working methods,” says Maria Nordborg, Director of Projectplace Customer Experience at Planview.

Technology is Key

Loudhouse’s research showed that companies without tech-driven productivity strategies struggle most, and Planview concluded that ‘technology is key to maximizing organizational performance.’ US companies were revealed as the most tech-driven, with the Netherlands at the bottom of the table.

The study showed that 96% of business leaders believe technology helps drive organizational efficiency. 53% of those with ‘tech-driven’ efficiency programs are ‘very confident’ of success, compared to 14% of those leaders regarding themselves as ‘tech-hesitant’ (14%).

However, only 40% believe it’s easy to measure ROI (return on investment) both before and after investing in new technology – and most companies see ROI in terms of productivity and efficiency gains rather than financial ones.

“We can see that efficiency and technological investment go hand in hand so business leaders need to define what efficiency means for their organization. If not, ROI measurement will be another unproductive process that leads to more wasted time further down the line,” says Nordborg.

The research revealed that those business leaders who are most in touch with their IT departments are better able to identify and judge ROI potential. Among the leaders with high levels of IT support, 63% claim it’s easy to determine value for money both before and after technology investment, but among those with mid to low levels of IT support, this figure drops to just 29%.

“Efficiency and productivity can be hard to both define and achieve, so defining the ROI of productivity technologies can naturally be hard to define too,” points out Nordborg. “The study shows that the IT team can help identify the ways to measure efficiency gains.”

The Gift of Time

Having given their opinions on the causes of wasted time, the business leaders surveyed were asked what they would do if they could be given back that time. How would they spend an additional 30 minutes every day?

56% would spend the time away from the office, recharging their batteries. Among those who would choose to reinvest the time in their business instead, most said they would spend the time on their own personal development, the development needs of other staff members, and streamlining business processes. Only around a third would spend the time investigating new prospects.

In the light of this report, it may be worth looking at the processes in your business. It can be easy to get stuck in a rut and carry on doing things in a certain way because it works – and because you’ve always done them that way. But could you change or amalgamate any of these processes – and are using your technology to full advantage?

How would you spend an additional 30 minutes a day?

Leave a Reply

You must be logged in to post a comment.

Watch our three minute video to learn more about us

AAT Logo ACCA Logo Direct Debit Logo ICPA Logo ICO Logo