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Episode 59

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Published on:

23rd Jun 2023

Streamline Your Workflow And Organize Chaos

In this episode, Damien and Penny explore how accounting firms and bookkeepers can use workflow, AI, and technology to build their business with intentionality, help their clients better understand their business, and deliver value to them, as well as create a great workplace for their team.

The conversation focuses on the benefits of workflow, such as workflows, such as better visibility, accountability, and organization. 


Tune in as Damien and Penny as they advise listeners on what questions to ask when reviewing workflow applications and suggestions on setting up the workflow!


[00:01 - 01:36] Opening Segment

  • Damien and Penny discuss workflow, AI, and technology
  • AI is becoming more useful from a marketing and productivity standpoint


[01:37 - 13:49] How To Increase Efficiency And Accountability Through Workflow

  • AI can help with client communication and workflow
  • Push communication into Slack and Zoom chats
  • What is workflow?
  • Cloud-based services require proper cloud-based workflow for tracking


[13:50 - 28:21] Streamline Your Workflow And Organize Chaos

  • Simple workflow tools can be used even by one-person firms to help manage tasks
  • It is important for business owners to create space for themselves to think about their business and recharge
  • Set reminders and use a triage mentality to prioritize tasks
  • Take time out of the office or go offline to step away and think about your business
  • Penny shares the key capabilities required for any workflow software you're investigating
  1. All of client communication linked to the client record in the WF
  2. Assigned allocation of resource let's one know who has the task
  3. Status tells one where the task is on time to completion, what is holding up the task, what is missing
  4. Due dates, recurrence and priority cuts down on the question that revolve around administrating the tasking
  5. History of prior Q/A is helpful with not repeating mistakes or repeating questions


[28:22 - 35:07] Closing Segment

  • Damien and Penny advise listeners to review workflow applications to improve their business workflow!


Tweetable Quotes

“Life is too short. Nobody ever knows when they're going to be the one getting hit by a bus, so don't waste it.” - Penny Breslin


“If you need to take time out of the office or want to take time and go offline, will your team have everything that they need at their fingertips to keep the work moving.” – 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.