Businesses embracing cloud computing and online procurement could boost UK economy productivity

(2 minutes to read)

It’s been suggested that the UK economy could experience a significant productivity boost if more businesses were to take on everyday technology.

Experts say more businesses should be willing to embrace certain technologies, such as online procurement and cloud computing, as in doing so the UK economy could get a £100 billion productivity boost.

This is according to latest research carried out by the Confederation of British Industry (CBI), which has found that many British firms aren’t taking on even tried-and-tested technologies – as a result this is harming productivity and growth.

Carolyn Fairbairn, the CBI’s director-general, said, “Too many firms are missing out on what’s right under their noses.

“Failing to adopt the nuts-and-bolts technologies of today is leaving a yawning gap in productivity and pay ­between businesses.”

Farida Gibbs, CEO of professional services firm Gibbs Hybrid, commented, “Predictive analytics are being used to transform five key procurement areas – spend, category, supplier, compliance and performance. A data empowered procurement function equipped with a new set of data skills enables collaboration and partnership with finance and supplier teams. Moving away from decisions based on retrospective fiscal data, real-time data is a powerful asset for procurement when it comes to spend analysis as businesses can adjust their strategy in a more agile way.

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“Working in an organisation where there is no culture of data-driven decision making requires a shift in mindset. Data insights across the end-to-end process of procurement are helping businesses significantly reduce costs, enhance profitability, increase customer satisfaction, and gain competitive advantage.”

Gibbs added, “Procurement leaders are progressively looking for scalable solutions to prevent a data overload – speed and innovation are critical success factors in today’s digital world. According to ProcureCon’s Annual CPO Study of chief procurement officers, within the next 18 months only 3 per cent of respondents would have no procurement processes automation while 61 per cent would have between 21 per cent and 60 per cent of the process automated. Automation provides businesses the scalability to help process high volumes of data to derive meaningful insights.”

To find out more about contracting please contact Sophie on 01442 795100 or email sophie.lewis@dolanaccountancy.com

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours.
  • Free use of Contractor Umbrella – With changes in Public Sector IR35 Legislation we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella.
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams.
  • Free Access to FreeAgent – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use Tide free of charge for the first year.
  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status.
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative.
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few.
  • Same day payments- We offer same day payments as standard providing funds are received into our account by 9am, for no additional fee.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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