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Episode 62

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Published on:

18th Aug 2023

How to Implement an Effective Training Program

Why is it important to be trained when working with AI-driven solutions? In this episode of Strategy and the Virtual Controller, Damien and Penny discuss their recent getaways and how they managed to get back to work after taking a break. They talk about the importance of training when working with AI-driven solutions. They highlight why training is essential in the accounting industry, from understanding different applications to better understanding customers.          

The conversation covers ways to provide ongoing training, such as dedicating time every week, assigning trainers based on their experience, and having team members share what they learned. 


Tune in as Damien and Penny as they explore how to successfully use technology while staying trained and informed about the latest developments in the accounting industry!


[00:00 - 05:16] Opening Segment

  • Damien and Penny share their experiences after returning from holiday
  • They discuss the importance of understanding the impact of AI on bookkeeping       


[05:17 - 10:24] How to Implement an Effective Training Program

  • The need for skilled workers to understand the end-to-end process of data flow
  • Quality of information is paramount for accurate bookkeeping
  • Training in accounting processes is just as important, if not more difficult, than helping technicians understand the bookkeeping process better
  • Internal knowledge of the client is key to assisting the bottom line and helping organize their expenses


[10:25 - 27:27] Unlocking The Benefits Of AI And Technology

  • Dedicated training sessions and communication channels should be set up to ensure everyone is on the same page
  • AI is built in many ways and can save an enormous amount of time
  • Fostering a culture of sharing and constant learning helps get more out of technology
  • Client intricacy is critical to understanding the goal of the process


[27:28 - 36:55] Closing Segment

  • Tune in as Damien and Penny share how networking with others at conferences can lead to comradery and sharing of knowledge!


Tweetable Quotes

“I can't believe the speed of information changing not information change. The information is always there, the information is always the same, but our ways of accessing it, utilizing it and generating information out of it is changing drastically and it's changing daily.” - Penny Breslin


“It's really important that you foster that particular type of culture within your firm. And then that constant never-ending improvement and constant learning starts to flow. And most importantly, you start to get more and more out of the technology that you're paying a lot of money for.” – Damien Greathead


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Thank you for listening, please like and share this episode with a friend!


Websites: https://moneypennyllc.com/

LinkedIn: https://www.linkedin.com/in/damiengreathead/

Twitter: @Damien_GH

LinkedIn: https://www.linkedin.com/in/penny-breslin-0228b81/

Twitter: @pennyb57

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About the Podcast

Strategy and the Virtual Controller
Helping accounts and bookkeepers build the firm they want, their way
Your hosts Penny Breslin and Damien Greathead have more than 30 years of combined experience in the accounting industry. This podcast is to share their experiences of working in, and consulting to accounting and bookkeeping firms of all sizes, helping them grow.

Nothing discussed will be rocket science, instead they'll be discussing 'how' firms have successfully, and not so successfully, pursued growth. Penny and Damien will be sharing their insights on how firms can be successful by focusing on their people (clients included), their technology, and their processes and systems.

Ultimately how successful an accounting business will be depends largely on how the owners manage change, which alongside taxes appears to be the only constant.

We do want to acknowledge David Maister's great read Strategy and the Fat Smoker: Doing what's obvious but not easy as the inspiration for our title. Buy it on Amazon - https://amzn.to/3dhcUFC

Subscribe today for an upbeat and practical conversation about what's working and what's not in accounting businesses around the world.

About your hosts

Penny Breslin

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Penny Breslin is the founder of MoneyPenny, a consulting firm specializing in helping accounting firms and other businesses embrace the power of technology to simplify their operations and increase their profit margins.

Drawing on her years of experience and her knowledge of what it takes to run a successful business, Penny oversees the development of back office processes for her client firms. From the initial evaluation of the firm’s workflow, to technology selection, and assisting in the on-boarding of the firm’s clients, Penny works with her clients to maximize the benefits of a paperless and cloud-based firm.

Damien Greathead

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Damien has been working in the accounting industry for more than 15 years. In addition to getting his hands dirty preparing tax returns and doing bookkeeping, but the bulk of his experience comes from consulting to both accounting firms and the technology companies that serve the industry.

He set up 2020 Group USA which was a membership group for small and medium sized accounting firms and then went on to set up Receipt Bank (now Dext) in North America.

He regularly speaks to industry bodies on technology, marketing and change management.