How to spend less time on admin tasks and more time growing your business

When you own a business, you treat it like your own child: you take pride in it and want it to thrive. As in life, chaos can quickly ensue, but this time it does if you don’t properly prioritize admin tasks, use automation, and provide proper employee training. At some point, you may feel like you are no longer running your business, but the business is running you.

Administrator tasks

Poor admin task management often blamed for business disorganization and stagnation. Administrative duties are often seen as a distraction, but you know you can’t put them in a corner and come back to them when you have time (probably never).

Nobody likes administrative work, so here are three must-haves to help make the process easier — and profitable.

Help customers pay you faster

Some businesses with great potential face obstacles such as a large number of days of debtors. While customers may overlook or pay important bills too late, it’s not technology, it can be fixed.

Here’s a not-so-surprising secret to thriving businesses: it takes little time to get paid from customers, and they don’t struggle with cash flow shortages. Their invoices are paid in as little as 45 days (which should ideally be the case for your business as well), and both parties spend less time on administrative tasks, focusing more on growing their business. How to do the same?

Well, by measuring the number of days it takes for your customers to get paid. A Debtors days calculator simplifies this task for you and allows you to track the client’s risk level to determine how healthy the collaboration is.

To reduce the number of days in debt, eliminate the cash flow deficit. When customers are reminded before a payment is due and are aware of late payment amounts that should ideally be calculated automatically, they act more quickly.

The better you understand your clients’ risk limits and the more involved you are in getting their money, the better you can avoid debt collection.

Better manage AP

Accounts Payable (AP) is a high-stakes liability. Every business has to pay what it owes, and while you probably know this, you may find it difficult to keep up with the bills without spending years on such a tedious (but important) admin task.

One of the easiest ways improve your accounts the payment process is to eliminate paper invoices and move to a digital invoicing system. Using digital invoices can help prevent errors, reduce payment times and streamline your process, saving you time and money. Faster payments will help you avoid late payments and put you in the good graces of partners.

Just as notifying customers of their invoices helps you get paid faster, setting up payment reminders with all the relevant information alerts you when payment deadlines are approaching. Because there is clarity around your cash flow, you maintain goodwill with suppliers and can better manage your cash balance. If you don’t have a cash reserve, now is the time to build one.

Invest in your staff

Development and training should be a top priority if you want to rely on your employees to manage a variety of admin tasks. While anyone can perform some simple administrative duties, other complex tasks can be difficult for team members who have not received special training.

That’s why investing in continuous learning is a must, not only to ensure that newcomers have a good understanding of their responsibilities, but also to keep the team up to date best administrative practices.

Make sure you offer the support your employees need to perform their duties successfully, so you’ll thank yourself later.

Now that you know how to turn time spent on admin tasks into income, how ready are you to get started?

Leave a Comment