Let’s hope it isn’t the real apocalypse just yet. But while orders to sit still come from above and companies are closing their doors due to COVID-19, it feels like the end time for any tax Consultants in NYC firms.
But if there’s one thing accountants are good at, it’s taking the emotions out of the equation and figuring out the numbers. And the numbers can look great for companies keeping cool when everyone around them goes mad. As Entrepreneur Magazine recently pointed out, some of today’s most valuable companies either emerged from the 2008 financial crisis or accelerated growth in the wake of that crisis.
The message is pretty clear: if you keep your cool and keep an eye on the numbers, your practice may emerge from the COVID-19 crisis stronger than ever. As fun as it is, turning the pencil sharpener into an impromptu Ash Williams-style buzzsaw and battling mutant biker gangs on deserted streets, you will likely end up being too busy to leave the office at all.
But that doesn’t mean there aren’t big and serious changes in the world after the pandemic. Your accounting practise needs to be one step ahead of them, and here are 5 ways you can use the day during COVID-19 to get out of it stronger and better.
6 Ways in which tax consultants in NYC can help you
Invest in online accounting solutions
If your practice is in one of the metropolitan areas or states that have already been badly affected by the virus, it is likely that your employees are already mainly working from home. If not, it will likely be soon.
So now is the time to double your investment in online Business Licensing Services NYC solutions. If you are already one of those companies that have integrated their practice into a flexible online system such as Quickbooks or Xero, you can already enjoy the advantages of seamless collaboration with your employees and clients without having to leave your home.
If you haven’t moved your clients in this direction already, now may be the time to do it. There is no clearer reason to move accounting to the cloud. And, let’s face it, there are some clients who you won’t miss when you see them in person anyway.
Build your remote office systems
However, online accounting tools are only part of your daily toolset. When you run bookkeepers in NYC offices, you also have loads of regular, internal office work to be done – phones need to be answered, documents need to be passed around, staff meetings need to be held.
All of this requires an investment in systems and training before your employees are able to do all of this remotely. Regardless of whether you opt for an all-in-one inclusive platform such as Office 365 or put together solutions with inexpensive tools such as Slack and Google Docs, now is the time to test the solutions that should keep your team running smoothly works even when the world collapses around you.
At this stage in the pandemic, you are likely to notice that some of your contingency plans have stopped working … if you had contingency plans at all. If not, now at least you know why you need it.
However, if you had one, you are probably just now realizing that while creating these plans you forgot a few things. Perhaps an important person in the office is sick and unavailable, or you haven’t thought about the fact that the telephone system in the office cannot be reached when no one is in the office.
While we can always hope that this pandemic will be the last in our lifetime, the fact is that there are always less severe disasters … buildings burn, floods happen, people die. If you take the opportunity to review and revise your contingency plans now, you will be better equipped for the next disaster, large or small.
Think about the Future outcomes
Perhaps your main focus right now is work and how you cover payroll. Let’s face it, you are an accountant, the numbers are what you think of first.
But the people in your company are real people, with real fears and real needs. We have seen too many toneless pronouncements from large American corporations that, at the expense of profit, seem completely uncaring about the health and well-being of employees and their families.
Don’t be one of those insensitive companies. Take the time to ask your co-workers how they are and what you can do to help them. When cuts are needed – and it may – try to be as compassionate and generous as possible.
Remember that your business will continue and the economy will recover. You can go into this phase with employees who remember your warmth … or those who are looking for a new company because you left them feeling that you care no less about them can.
Keep supporting your customers
NYC payroll tax firms are only as strong as their customer base, and your customer base is likely to be battered right now.
They may want to cut back on their services, and even if they don’t, checks may come in a little slower than they used to be.
But you can take this opportunity to support and encourage them too. Helping them move to flexible, decentralized tax consultants in NYC solutions (see step 1!) Can be part of that. You won’t forget about the vendors who worked flawlessly during that time and helped keep the lights on. With the right responses to this crisis, you can build loyalty for life.
And when the Apocalypse comes, you will need allies to help you build your empire in the wasteland. Don’t fail to cultivate these important relationships now!
Take advantage of disasters
Don’t just support your current customers – get aggressive in finding new business. As macabre as it is, the possibility exists that revenue streams from certain customers will disappear altogether.
In the post-COVID-19 world, more and more customers will be looking for companies that can assist them in any type of disaster. If you can prove that your company is up to the job, there will be loads of business for you when it is all over.
This also applies to the search for new customer groups. While the long-term effects of the pandemic are uncertain, the interim period of coping with the pandemic opens the eyes of many to the importance of firms that can provide services remotely.
The isolation efforts have resulted in millions of stragglers turning to online services. And part of the population will shy away from large gatherings for a long time after all of this is over.
These realities suggest that massive waves of online business are ahead when the economy picks up again. If you don’t take that into tax consultants in NYC and look around there to build your customer base, you are missing out on an opportunity.
There is no reason why you cannot use your rational accounting brain to come up with realistic, helpful, and useful solutions to the challenges posed by the COVID-19 crisis. What you are likely to discover is that not only will these solutions become the new standard practice for doing business in the post-COVID era, but they will also prove to be better for your bottom line.