Interest in Bitcoin is at an all-time high right now, as well as the price. A quick search of Bitcoin on Twitter and you will be overwhelmed with arguments for and against the cryptocurrency. The fact is, however, people who had no previous experience investing are starting to put their money into Bitcoin… Why? Apart from Elon telling you to, here are our 5 reasons why you may want to make the step into the crypto market.

1. Everyone is doing it – Now, that sounds like a weak argument. But the fact is the number of Bitcoins that will ever be made available does have a number. It isn’t an unlimited source, so the more people buy, the higher the price will likely go. Apps like CashApp and PayPal have started allowing users to buy, hold and sell Bitcoin (among other Cryptos) in their wallets. It is also planned that PayPal’s 26 million merchants will start accepting Bitcoin as a form of payment. When we look at society, people from all walks of life are now getting involved. Zahara’s CEO is a bitcoin holder – so are his sons and so is his dad. That is perhaps one of the most appealing aspects of it – you can enter with almost any amount and still turn a profit.
2. The Wolf of Crypto Street – You know something is serious when Wall Street starts getting involved. They aren’t just dipping their toes in either, investment firm MicroStrategy have bought over $1 billion in Bitcoin. The same company also announced that it will be looking to invest excess cashflow into Bitcoin. Other investment firms will watch this move with eager eyes – Morgan Stanley and JP Morgan Chase have hinted at the possibility of investing heavily in Bitcoin too.
3. Resistance – Bitcoin has crashed many times and been declared dead, however it has always bounced back and surged past its previous all-time high. Let’s take a brief look – in mid 2011 the price was $30 dollars but collapsed to $2. April 2013, the price hit $260 but collapsed by 50%, only to recover to over $1000 for the first time before the end of 2013. Then, arguably the move that put Bitcoin on the map – start of 2017 Bitcoin hit $1000, by the end of the year it had hit $20,000. This was probably the point Bitcoin came into the mainstream.
4. Digital Gold? – Ok, so gold will always be held in higher regard because people find comfort in the fact that gold is physical, despite majority of investments never actually possessing the physical gold they have just bought. People are likely becoming more comfortable with the idea of a cryptocurrency as more and more of what we do in our lives become digitised. A quick look at Twitter and you will see which, out of Bitcoin and Gold, are getting more attention.
5. It is such a rush – hear me out on this one. Trading Bitcoin and other cryptocurrencies is probably one of the most interesting and fun activities I have ever taken part in. You spend so much more time than you realise watching a line make its way along a chart, watching your profit (hopefully) go up. The volatility of Bitcoin means that you don’t necessarily have to hold it for that long to make a profit or loss. You can open and close trades on a weekly basis and still turn decent numbers if you want, this makes it much faster pace than other investments. For people with short attention spans (like me) that is great!

The hype around Bitcoin and cryptocurrencies in general has been monumental recently. Many analysts are predicting that 1 Bitcoin will surpass $100k in 2021. We will be playing a game of who has the strongest hands until then.

What are your thoughts on Cryptocurrency? We would love to hear from you! Head to our Twitter and let us know.

I have to say that the above is not investment advice. You shouldn’t invest any money you cannot afford to lose. Do as much research as you can before entering the market.

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1. Build the right team

Hire staff that ideally have experience of purchase orders or at least understand the company’s need to control spend, this will make the implementation process a lot smoother.  Employees outside finance can sometimes see the purchasing process as unnecessary and time-consuming so having the right finance team to encourage and guide them will be a big key to your success.

2. Outline a plan

Whether you have agreement from senior directors or not, you should always have a plan. Set clear, measurable goals with a timeline and what you aim to achieve by implementing a purchase order system. Can you quantify time or cost savings as a result?  This should help the wider company get on board with your plan.

3. Choose a purchase ordering system

This is a very important decision as different software packages have different strengths; they also vary considerably on price so this depends completely on your requirements and budget. Zahara’s strength is in the automated workflow capabilities. With Zahara you can automatically send purchase orders for approval based on a supplier, value, project etc without having to manually select the approver.  Make sure you can have a demo of the software and ideally take a trial, being able to use the software before entering into a contract will really help you test drive it first.  At Zahara we currently offer free demos and a free trial.

4. Decide on an Implementation Programme

Do you have the time and resource to setup the software yourself or would it more efficient to pay for the experts to guide and advise on how to get the best from the software.  Decide on a target go live date.  Ensure you and your staff have enough time to test the system properly and decide on an approval Matrix before you begin the implementation.

5. Communicate the plan to staff

Once you have senior directors on board it’s important to educate all staff on the importance of purchase orders and why you are implementing it within the company. Securing buy-in from staff prior to implementation can really help with the process and should result in less, if any, push back later down the line.

6. Train users

This should be comprehensive and regular. Creating your own company handbook or guide for the software and specific setup could be beneficial. It’s good practice to have multiple senior finance members that hold a substantial working knowledge of the software rather than leaving one key contact responsible. At Zahara we usually train the finance members so they can then train the wider company users, giving you an even better working knowledge of the software.  This is your software and we want you to own it.

7. Implement the software

You may consider a parallel run for a week or so, you could start with just a few departments initially rather than an “all in one go” approach. Speed is not necessarily the most import factor here!

8. Review

Does it do what you want it to do? Here at Zahara we have a Customer Success Manager who will check in with you to make sure you are getting the most for the software and answer any queries along the way. Review it regularly and revisit your original goals, is it achieving what you wanted?

Ultimately, purchasing software can save you time and effort when raising PO’s. The main takeaway from the points above should be that there is a better way of raising PO’s than using a paper process. We may return to some normality in 2021, but paper-based processes will be a thing of the past this year. Now is the time to bring your processes into the cloud.

But that’s just what we think, we really wanto to know what you think. Head over to our Twitter to let us know!

Register your interest today with our free trial.

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1. 1. Cloud computing will be at the heart of everything we do in 2021

It might sound like a sales line, but this is one statement many people can get behind. The pandemic really exposed how unprepared some industries and businesses were for an event like this. Businesses who were still using paper processes had to suddenly come up a process which meant they could continue operating – the cloud was the answer. 2021 will see business continuity departments across all industries updating their plans to contain cloud based applications. Even when we return to our “normal” the reliance on the cloud will likely be higher than we have ever seen before.

1. 1. Security will increase

Protecting a physical building is a challenge that people have been practicing since the dawn of man. We are pretty good at it now, so your servers and on-premise systems are quite well protected. Build high walls, heavy doors and plenty of guards and you should be fine. What about cloud security? Well, 2020 saw a big spike in the amount of phishing attacks. Criminals will always be looking for their next exploit, so it is crucial that the security of the cloud keeps up with their tactics. It is always important to remain vigilant online, and while you can do your bit to stop attacks (don’t click those unknown email attachments!) security around big name services – Amazon, Google etc, will reach new heights in 2021.

1. 1. AI in the cloud

AI gets stronger, smarter and better every day, similar to most humans. What happens if we pair AI with cloud based computing? The answer, is great things. AI can be used to automate mundane tasks, that we humans don’t really like doing. If you could get something to automatically empty your rubbish bin every week, I’m sure you’d take it. The case is very much the same for AI – it can be used to do stuff you don’t want to do. Pair this with it being in the cloud, where you probably won’t even realise it’s doing your work for you. Sounds good, right?

So, as we look to return to our offices in 2021 we will likely see a bit of a boom from those industries that have been temporarily been shutdown. Entertainment, events and catering etc will likely have to find someway of fitting into this new world we now operate in, with the cloud being at the heart of their transformation. But this is just what we think. What we’d really like to know is what you think – let us know on Twitter

Want to hear how becoming cloud based with your AP solution could help you? Contact us today!

The post The Cloud in 2021 appeared first on Zahara Accounts Payable Automation Software.

One of Zahara’s strengths is that it is cloud-based, so it can be accessed from any device with a web-browser and internet access. Your browser working well is key to Zahara’s performance, so we have put together a guide on how to increase your browser’s performance.

1. Add-ons – what are they doing and are they slowing you down?

Given that malfunctioning add-ons are the number one cause of browser problems, this should always be your first place to start looking. Your browser should enable you to see what add-ons you have working, so find this list and see what’s running.

To see if it is an add-on causing your problems, try running your browser in safe mode – this will run the browser in the default mode and won’t have any add-ons running. This should help you narrow down the cause.

2. Reduce memory usage

Browsers use a lot of RAM – so if your computer doesn’t have much RAM, you may find that your browser may be very slow or crash. The best way to prevent this is to occasionally close it down completely

Another option is to install The Great Suspender for Chrome. This will put your open tabs into a low use mode, so they will use significantly less memory when not being used.

3. Disable unnecessary scripts

Unnecessary scripts running in your browser can bring many unwanted issues, most common being hanging and freezing. There are a few add-ons you can choose from to block scripts running on sites you don’t want them to, and permit them on sites you want them. Disabling these scripts will help pages load faster.

4. Plugins, plugins, plugins

It is quite common for browsers to disable troublesome plugins without you realising, but there is a chance they could go unnoticed and cause you issues. To see your plugins enter chrome://settings/content into the address bar to access a page that lets you manage your plugins.

5. Reset and reinstall

If all this doesn’t work, and you are at the point of throwing your entire setup out the window, try resetting and reinstalling the browser. Your browser will have the option to do this – a simple google search on how to reset browser will show you how on your browser.

If absolutely none of these steps work, then you can either throw your computer out of the window and do something else, or contact our support if you are having Zahara issues and we can help you out.

Want to see how your browser works with Zahara? Start your free trial today.

The post Is Your Browser Grinding You Down? appeared first on Zahara Accounts Payable Automation Software.

Controlling Your Expenses

1. Saves time and money

   This is probably at the top of your priorities list at the moment. You can set the right approval workflow for expenses, and bring better visibility to your expense procedure. Approvals can also be done quicker, they are just an email away.

2. Covid-19 restrictions approved

   Expenses can be claimed via mobile, or anywhere with internet, and approved via email. We have seen some very clunky expense claim procedures recently, with little control and not very Covid friendly. Zahara means no passing of paper, no coming into contact with anyone. Employees can even upload pictures of receipts with the claim.

3. Easy to setup

   Especially in Zahara, setting up staff expenses can be done in a matter of minutes – we even have a YouTube video showing you exactly how to do it… We can even do it for you! You set the parameters on who has to approve what – an expense over £200 might have to go to more than one person for approval, expenses under 10 might automatically approve. Zahara handles it.

4. Reduces fraud

   If you are using a paper system, chances are some things slip through. People could be claiming the same expenses twice, claiming false amounts, or simply putting through expenses that simply don’t exist. Zahara will put a stop to this.

5. It is easier

   The process of claiming expenses for the staff is very easy. A few clicks and it is done – staff will love it as they no longer have to fill out complicated forms (nobody likes this) – approvers don’t have to spend ages looking through piles of paper, everything they need to know is right there in front of them.

The post Paperless Staff Expenses – 5 Reasons Why appeared first on Zahara Accounts Payable Automation Software.

2020 Is a year of change. Businesses have to adapt to a different working style, with many needing to be operated remotely. This is where the beauty of cloud-based systems really shines through. Not convinced?

1. Remote Access

Working from home and still need access to your files and software? Cloud servers let you access these important documents at any time, from any location with internet access. This is hugely important at the moment, and will likely be a necessity for the future of businesses

2. Easy to Collaborate

If your team is working on a project, where everyone needs to be able to contribute, having your documents based in the cloud means the whole team has access to them. The whole team being able to access the same information and project at the right time is key to success.

3. Security

Although third on the list, security is top of the list for any reputable cloud based software company. Data can be encrypted at rest, Azure (where Zahara is hosted!) uses 256-bit AES encryption, also known as AES-256—one of the strongest block ciphers available.

It is also handy if you leave your work laptop on a train – the data isn’t stored on the laptop so there is little risk of it being stolen, and the user can easily access their files on a different machine.

4. Scalability

With a cloud server, it is much easier to increase or decrease the scale of the server depending on usage – so the server can grow as your business grows. While you can increase a dedicated server, it will cost you more time, money and effort.

5. Save Time and Money

The savings of a good cloud server over a dedicated local server are massive. A lot of cloud services are based on a subscription – which is the only overhead. A dedicated server requires expensive IT infrastructure, and often a support engineer/team to maintain it.

Ultimately, being cloud based makes day-to-day business much easier, cheaper and safer. At Zahara, we aim to bring you all of these benefits with your Accounts Payables process. Find out how we do that by booking a demo or taking a trial.

The post 5 Benefits of Being Cloud Based appeared first on Zahara Accounts Payable Automation Software.

When we aren’t making incredible AP software, we are watching Netflix, Amazon, Apple TV and all the other streaming services. Let’s be honest, there isn’t much else to do at the moment. We thought we would share with you what we’re watching and what we think of it – no spoilers!

Martin Peirce – CEO – Ted Lasso – This is a feel good program about a UK football team being managed by a Kansas Football coach with no experience of soccer. Its a heart warming tale of good intentions and how team morale can achieve so much. I love it. I genuinely look forward to each new episode. Juno Temple is superb in it as well although it really is an ensemble cast.

Jenna Moore – Support Engineer – Start Trek Discovery – This sci-fi series follows the voyages of Starfleet on their quest to explore new planets and new life forms. Set 10 years before the events of “Star Trek: The Original Series,” the show sees the Klingons waging war against the United Federation of Planets. Seat of your pants kinda stuff with good twists, in depth characters and great visuals.

Jordan Butler – Marketing Executive – The Walking Dead – I kept seeing memes online of how Coronavirus was going to be the start of The Walking Dead, so I wanted to watch it to pick up some tips. The thing I love most about watching a long series like this is seeing how the actors develop. For many of them, this was their first big breakthrough, so it is interesting to see how they are fairly robotic at the start, but then they become more competent actors as the series progresses. Anyway, I have decided Michonne is my favourite character – she is lethal with her katana.

John Witty – Business Manager – House of Cards –Missed it first time round, but now engrossed – even though it started being aired 7years ago, some of the underlying themes and story-lines bear an uncanny similarity to politics of today. Is it a case that the original novel and TV adaptation had incredible foresight in predicting the future, or that modern politicians are imitating the fictional theatrics?

Carl Spring – Project Engineer – Cobra Kai – Following the fallen enemy of Daniel Larusso, down on his luck and working hard to regain his glory days in Cobra Kai, Johnny Lawrence builds his new fighting fit gang of hard nuts while Larusso builds a new team of Miyagi-do students to ignite a new generation of Karate teen rivals. Glorious misunderstandings between the original now grown rivals, bring a nostalgia driven series only the 80s can ignite.

Stephen Carr – Head of Support – The Boys – Gratuitous Violence has replaced has replaced wit and character depth as the writers have clearly spent the last year or so congratulating themselves for the 1st season instead of doing any work. Anthony Starr as Homelander is fantastic and dominates every scene he’s in though.

Nick Hedley-Harper – Technical Manager – Battlestar Galactica – A group of humans aboard a battleship, Battlestar Galactica, are forced to abandon their planet after being attacked by Cylons. They try to evade the Cylons while searching for their true home, Earth.Loved it when I watched it 5 years ago and is now streaming on Iplayer

So there’s a quick glimpse into what some of us have been watching over lockdown. What have you been watching? We would love to hear some recommendations! Head over to our Twitter below and let us know.

The post Netflix During Lockdown appeared first on Zahara Accounts Payable Automation Software.

With the recent outbreak of Coronavirus, the government has encouraged people to work from home in a bid to limit the spread of the virus. Working from home isn’t a new concept for many, however for some it will be a completely new experience. It is likely that processes will need to be changed and updated, passing a piece of paper to your manager is impossible if you are both in different locations. So, what does this mean for your Accounts Payables process? Has this highlighted the need for a paperless process?

Since 2005, working from home and remote working arrangements have increased by 159%, and is likely continue to rise in the future. With more and more people working from home, the need for paperless processes is now more apparent than ever. This shows that there has been a shift in the way people work. The days of the rammed office and paper stacked high on desks are disappearing.

The beauty of becoming paperless?

You can access your documents anywhere, at anytime. This means that working from home is so much easier, as you don’t have to worry about access to important documents. There is also naturally less paper in your office, which means more space for plants, statues, or other things to throw at your colleagues. From another point of view, this could mean the need for a big office is now gone, therefore reducing business costs.

Optical character recognition (OCR) technology makes converting paper documents into digital, fully readable and editable documents easy. Simply scan them in using a scanner or smart phone, then you are free to edit them as you wish. OCR technology is close to 100% accurate too, with any uncertainties highlighted to you within the software. Another bonus, as the text is now fully editable and readable, you can easily search the database for specific words or numbers, saving you the time and hassle of manually rummaging through paperwork to run your reports.

So, what steps can you take and how would being paperless work? The first real step is to identify areas where a lot of paperwork is involved, especially where this paperwork needs processing in a timely manner. Using Accounts Payables and Zahara as an example, you can be emailed an invoice, upload this invoice into Zahara, send it through an automated approval process, and then export it to your accounting software. Not a single piece of paper needs to be involved in the process, and all can be completed from the comfort of your sofa.

The post The Perfect Time to go Paperless? appeared first on Zahara Accounts Payable Automation Software.

Profitability

Tax Savings

Cash Flow

Storage

For accountants and bookkeepers seeking to grow closer advisory relationships with their clients, regular purchasing discussions is one of those low hanging fruit topics. It is an easy discussion to have and can have a profound impact on several key areas of business.

This month’s guest blog feature is written by host of ‘Cloud Stories’ podcast and author of a multitude of Cloud Accounting books, Heather Smith. Subscribe to her Accounting Apps Newsletter.

The post Four Reasons to Talk to Your Clients About Purchasing appeared first on Zahara Accounts Payable Automation Software.

But, what do we want in our work life? We have been able to outsource mundane tasks to more cost-effective resources for years, but now we have technology that can do things that previously took us hours. In our world, we can have invoices recognized saving us keying-in time. The same technology is out there for time sheets and expenses. In fact, the recognition is actually becoming commoditised with more and more choices. To a certain extent, that’s not the clever bit. It’s the making sense of the data that counts and that’s where the next phase of automation comes in.

For instance, double-checking bank details on an invoice is a painfully slow process, yet essential as faking these details is the biggest fraud entry-point for all organisations. Software can perform this task in an instant, flagging any anomalies that need investigation. And it gets it right 100% of the time.

Automating just this task can save hundreds of working hours every year and dramatically reduce financial fraud.

If an invoice is recognised, and fully matches a pre-approved purchase order, then it can be routed into the accounts system automatically. Machine learning can be used to police the coding and all this can happen 24/7 without any human intervention.

Automation is coming to a finance team near you. There is no doubt about that, and it will be a force for good. But having the structure and plan in place will make sure you are in control at all times.

The post Automation – The Ultimate Tool for Efficiency? appeared first on Zahara Accounts Payable Automation Software.