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Company Corporate Culture - Complete Controller

A positive corporate culture is essential to the success of any company, large or small. While there are many factors in creating an excellent corporate culture, some elements are consistently found in all companies with a positive corporate culture. To ensure your company has a positive corporate culture, there are four key components on which to focus. Check out America's Best Bookkeepers

Vision

A positive corporate culture is first built on the company’s vision. The vision is laid out in a company’s mission statement. This statement will lay out the company’s goals and should be on the mind of every employee from CEO to receptionist. If every employee knows the company’s mission, it will promote confidence and understanding of what the overall goals are to help guide individual goals. This will be something you need to ensure is instilled in your employees through evaluations and conversations. The top of the pyramid of importance is the vision of the company so that everyone is striving towards the mission of the company every day. Check out America's Best Bookkeepers

Values

A company’s values are the core of its culture. While a vision is a company’s mission, values are guidelines on the mindset and behaviors necessary to achieve company goals.  Values communicate to everyone in the company how it treats employees and co-workers, serves clients, and upholds professional standards. The company’s values are based not only on the vision but also on the authenticity of the values presented. The values of a company can differ from the values of the individuals within the company. While you would encourage each person to be themselves, you need to make it clear that within the corporate culture of your company, while at work, everyone is expected to uphold the company values.

Practices

Company practices are how vision and values are put into use. If your company has a compelling vision statement and clearly defined values, if there is no action behind them, the corporate culture will be negative and cause a company to suffer or possibly fail. Whatever the vision and values are, they should be reflected in the policies and operations of the company. Vision and values mean nothing if they are not expressed through action set forth through company expectations of each position and the person holding it. Check out America's Best Bookkeepers

People

No company can have a positive corporate culture without people sharing the vision and values. The shared vision and values should be part of the recruiting and hiring process. To ensure the company’s corporate culture is positive, all new or seasoned employees must be on board with the core vision and values. Having this be part of the recruitment and hiring process helps with retention and reduces issues that can negatively impact the corporate culture. People stick with corporate cultures they like, and bringing on the right “culture carriers” through recruitment reinforces the culture a company already has. This attention to staffing will pay off when it comes to the company continuing to succeed through the vision and values it practices. And having such a positive corporate culture will promote productivity and high employee retention rates.

Conclusion

Of course, there are other factors that can influence a positive corporate culture. But these components provide a firm foundation for shaping a positive company corporate culture. A positive corporate culture promotes the retention of like-minded employees and has a strong impact on productivity, attendance, and promotion from within the company. Making sure every employee fits into the corporate culture by sharing the vision and the values and putting them into practice will guarantee overall company success.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
storing documents - Complete Controller

Even though companies are being encouraged to store their files electronically, some organizations still prefer archiving individual vital paper records.

Many organizations retain paper-based files because they prefer it and because sometimes it is a legal requirement. Some documents require being kept as a hard-copy for a certain amount of time. These types of documents include patient records, accident reports, and occupational health records

However, it can be problematic to store a large number of documents onsite. It can significantly decrease the amount of office space and your company may not have adequate security measures to ensure the confidential materials are protected and kept safe. Offsite storage services provide a more secure storage facility for relevant records and documents. Here are some of the reasons why you should be storing your company documents offsite: Check out America's Best Bookkeepers

1 – Space

Even if you have a specific warehouse or filing cabinets, storing documents onsite can use up a large amount of space. Utilizing a secure archive facility can save you a lot of space in your office premises, ensuring the work environment is less cluttered. 

2 – Security

It can be a considerable risk to store your company’s documents and records onsite. It makes them susceptible to getting stolen, lost, or damaged. 

There is a chance of confidential financial information falling into the wrong hands if stored onsite. When it comes to finances, security is just as important as confidentiality. For this reason, it is good to use offsite bookkeeping to make sure your data is safe. The payroll is not only on time but also completely confidential.

Specialized storage services can ensure that your essential records and sensitive files protect against incidental and natural disasters.  

An off-storage is protected by the most up-to-date security and technology, generally with 24/7 CCTV cameras monitoring everything, an entry that requires a biometric fingerprint, and a building surrounded by a safe perimeter fence. Check out America's Best Bookkeepers

3 – Cost

Storing documents onsite comes with a hidden cost. Though you will not have to pay an invoice every month, it is easy to fool yourself into believing that storing your file onsite does not cost you anything. However, you will be required to pay rent for space to store the files in your office. You will pay employees to search for the documents when you need them. Having unnecessary, old files around means, they will spend more time searching for the relevant material. 

You will also have to pay for equipment used for the storage of the files. They can break sometimes, and you will face additional costs when the time comes to replace them. Moreover, unless you have a way of determining and destroying documents that you don’t need anymore, the buildup of unnecessary files will also increase your costs further.

Storing files offsite is simpler. You will receive a fixed monthly invoice every month for the organization’s files stored offsite. When you need a file, you can request it using an online system and receive it within a few hours.

You can also examine every cost associated with the offsite storage and adjust the services accordingly.  

4 – Improved Employee Efficiency and Workflow

It can take a lot of time to file, sort, and locate documents, which wastes the time and money of your company. You will be required to employ additional staff to search through the records and documents.

Storing your documents offsite will benefit your company as your staff can focus on their actual job rather than spending their time looking through and filing papers. The majority of the offsite storage services scan and send the documents you require digitally generally within a few hours, this can save your employees a significant amount of time. Moreover, sharing your files online is more convenient and straightforward and ultimately improves the workflow. Check out America's Best Bookkeepers

5 – Archive Management

It can be a hassle to search for your files, but trying to identify and manage the documents you have can also be frustrating.

The majority of offsite storage services offer an online archive management system that enables customers who opt for archive storing to manage the lifecycle of their documents. They can request a physical file, arrange deliveries and collections to archive additional documents and get the materials they do not need any more destroyed. This connection means that you will always be the one in control of your documents.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers

Let’s face it; external threats of fraud are getting worse, and some organizations don’t have a clue what to do about it!

With the growing influence of the internet and dependency on employees in the modern-day workplace, theft of confidential data and trade secrets is more common. Monitoring employee activities and tracking their performance and conduct is easy.  But monitoring day-to-day external operations is more difficult because they are multifaceted. Getting in control of your core business operations, whether financial or managerial, is critical to your long-term success. Perhaps it’s the first thing that determines your company’s profitability and productivity. Guarding against external threats of fraud can help identify and protect your company from fraud, vandalism, libel, hacking, and other inappropriate behavior or misconduct. Check out America's Best Bookkeepers

Small Organizations Are Vulnerable to External Threats of Fraud!

According to a survey, more than half of the corporate houses around the globe or two-third of companies have experienced and suffered one or more instances of fraud. Surprisingly, the US tops the list of the most severe level financial crimes ever recorded in a corporate world. This indicates that fraud is an ongoing and most widespread activity that costs businesses billions of dollars each year. Small and mid-sized businesses are more vulnerable to external threats of fraud, as they usually lack resources and an adequate level of checks and balances. As per the ACFE Report to the nations, the typical organization loses a significant 5% annual revenue and profit due to occupational fraud. Also, the cases of fraud are far less likely to be committed by a team of individuals and more likely to be committed by a single individual or in an individual capacity.

External Threats of Fraud Possess Risk That Impacts Company Profitability

The need to have a secure and reliable way to manage your company’s finances is essential for putting your business in the right direction and expecting to have long-term growth and success. In a digital world full of fraudsters, computer hackers, data breaches, and spies, you and your company can expect to get affected in one form or another as identity thieves can easily get a hold on your company’s sensitive data and secrets. This makes it clear that external threats of fraud can significantly hurt companies making them get out of the competitive business race. So, having proper checks and balance systems and mechanisms in place can help you reduce costly errors or mistakes. Check out America's Best Bookkeepers

Types of External Threats of Frauds

External fraud can cause serious damage to your bottom line. It commonly involves your customers and external parties, such as your vendors, banks, etc. Some of the most common types of frauds include vendor and telemarketing fraud or scam, corporate espionage, check and credit card fraud, tax scams, shoplifting, ID theft, insurance fraud, bookkeeping or accounting fraud when hired for services, mortgage, and investment fraud, internet or cybercrime, etc.

Protecting Your Company Against External Threats of Fraud

Create a Code of Conduct and Sound Management Plan

It is ideal for documenting everything appropriately and maintaining a file of important business transactions and financial records. The data saved in your computer is more vulnerable to theft and an easy target for spies and hackers. This also includes the list of duties that who is going to manage which work. Also, it is quite effective to create and document procedures and create a disaster recovery plan in case of data theft. Moreover, training of employees and implementation of effective procedures, coupled with activities like maintaining and auditing the program, is a big plus for minimizing external threats of fraud. Check out America's Best Bookkeepers

Shore up Your Site’s Security

There is no denying the fact that creating and implementing security measures and ensuring all the data security network protocols can be a nightmare. Especially when you have piles of business records, files, and documents all in one place, to prevent leakage of sensitive data, you need to classify each file. This allows you to have control over your company’s data. 

If the sensitive data is housed online, you must assign different layers of security, perhaps by putting firewalls on the server. If the data is stored in-house, you need to shore up your on-site security to reduce external threats of fraud. This includes locking everything down, installing fire and security alarms, and limiting access to your critical documents. This also includes labeling all records, files, and documents appropriately, conducting regular bookkeeping audits, and other similar tasks.

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
knowledge management - Complete Controller

Our company is growing and evolving on a day to day basis. Our primary purpose is the standardization of the full-charge bookkeeping cycle, which has moving parts that vary by industry and client needs.  Bookkeeping has multiple options; the challenge is to define best practices and choose the one best for the company. At first, we added to the process manual for each role within the company. We made sure the processes had accountability points where a person outside of the process would be aware if it weren’t completed or proper. Our manuals became robust, and there was no way to ensure that the staff members in a given role had a working understanding of all the material. We applied these tools for knowledge management, and our knowledge share is now more efficient and exciting than ever: Check out America's Best Bookkeepers

Training Videos – We created a series of training videos to help orient new staff members or those entering into a new role within the company. They are supported by outlines on which we require our trainees to make notes and give them to their supervisor. This does the following: we are reaching the visual and written learners, we are ensuring that videos are being watched all the way through, and we are mining information about the content and the trainee. If we keep seeing the same questions pop-up on those outline notes about a given subject, we know we need to improve our training in that area. If we see inconsistent or off-subject notes, we know that the trainee cannot learn this way, be meticulous, or stay on point – all indications that the role may not be a good fit for them. Check out America's Best Bookkeepers

Testing & Continuing Education – After they have watched all the videos and taken one long read through the process manual that applies to their role, we give them an open book test. All the answers are searchable within the manual, and this practice helps us to get their head into the manual, using it as a reference guide and bringing attention to the details of critical processes. Since our process manuals are continually evolving, continuing internal education is critical. Our staff answers a quick set of continuing education questions every month that set them up for success in their roles. Some processes occur once a year, so the continuing education questions are a great way to refresh their knowledge about how to handle seasonal tasks properly. Of course, we also include questions about the new or changed processes, so they come to attention. This has been effective for reducing requests for support in tasks that are already outlined in the manual, increasing our staff efficiency. Check out America's Best Bookkeepers

Management Brainstorming – We have five levels of accountability within our company: Data Entry, Bookkeepers, Controllers, Operations, and Executive staff. At all levels, we have talented, experienced, and highly educated people who love the company and want to see us become more valuable, more efficient, and more effective in the market we serve. I believe that executive staff who do not recognize the talent of their team and instead ‘dictate from on high’ miss out on great feedback and have a hard time creating the passion that fuels collaboration and personal responsibility. If a staff member is always carrying out someone else’s wishes and doesn’t have the opportunity and encouragement to share their thoughts and ideas, they won’t be excited about their workplace. We offer a forum for brainstorming where our management level team members air concerns, discuss potential solutions, work through processes that aren’t working, and discover untapped opportunities. Our non-management staff is recognized when they bring a good idea to the attention of management, and they get a bonus if implemented in part or whole.

These strategies have drastically improved knowledge management within our small business environment, and they are affordable – we were able to create all our training and tests in-house, by the people who are closest to work. It doesn’t have to be complicated or expensive to be effective.

 

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers