Management Tips

Our services at Valuemax aim at addressing the following concerns in organisations.

How good is your accounting system?

  • Can your books of account and records survive the collapse of the current accounting application?
  • Do you like the reports you get from your accounting system? Are the reports of value in making decisions?
  • Do you trust the figures you get from your accountant?
  • Does your accounting function serve you as management, or are you ever struggling to satisfy its requirements?
  • Do you have a system that can survive the exit of your key staff?
  • Can you get better value by outsourcing the accounting function?

Do you have a quality management system?

  • Are you confident that you serve your customers consistently, or does the service depend on who your customer is dealing with among your sales staff?
  • Do you have the right organisation structure in your organisation, defining levels, their requirements, roles, deliverables?
  • Are you confident that you have not overstaffed /understaffed?
  • Are your product packages similar in terms of weight, identity, markings etc?
  • Can the business survive your absence for a prolonged duration?

Are you tax compliant?

  • Are you sure that you are paying the correct types and amounts of taxes?
  • Is your accounting system consistent in treatment of taxable services or products?
  • Are you familiar with the following terms: VAT, PAYE, withholding taxes, income taxes, customs duties, corporation taxes, withholding VAT?

Do you have a Strategy?

  • Have you identified you business’ environmental factors? Strengths? weaknesses?
  • Do you have a long-term view of your business? What is your business’ vision?
  • Do you have a business plan? Not because the bank asked for it, yours!
  • Are you sure you have really defined your business mission, and do your staff know it?
  • Are your processes and systems designed and working to support your mission?
  • You are considering an additional business, is it worth pursuing? Have you done due diligence?
  • Do you have competitive advantage in your line of business?

How much is your business worth?

  • Do you know your business’ key success factors?
  • How much is your business worth?
  • Suppose you need a partner or additional investor in your business, where will you start? How much will you offer?
  • Do you know that your business is worth more than the value of total assets?

Do you trust your internal controls?

  • Are you sure that somebody is not stealing from your business?
  • When did you last do bank reconciliation, debtors reconciliation for your business?
  • Are you vulnerable to fraud? – by staff, customers, suppliers?
  • When did you last do a comprehensive business review or internal audit to give you assurance that your controls are adequate, assets are safe and that your accounting and other systems are adequate for your business?

When is the last time you attended a formal training session?

  • You employed your staff based on their qualifications, but have you trained them to improve their abilities?
  • Do you know the value of training is not the certificate awarded but what the holder of the certificate can be able to do practically?
  • If you believe that your employees are your biggest assets, how much did you spend last year to improve their skills?
  • Did you know that there is something to gain from training; even in an area you thought you were an expert in?

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