Making a List and Checking it Twice

Making a List and Checking it Twice

As we approach the end of the year, now is the time to consider what changes you can make to improve your operations for the new year.   We have compiled a list of a few changes that we have found to be especially impactful:

Outsource payroll.

Whether you have one or one thousand employees, payroll should never be done in-house.  For a discussion on the many benefits of outsourcing payroll please refer to our blog on The Case for Outsourcing Payroll.

Move your data to the cloud and eliminate in-house servers.

Safely storing data on private servers has become cost-prohibitive for most organizations.  The risk of private servers being hacked has escalated as attackers have become more sophisticated.  Protecting your data now requires the full time and attention of trained data protection specialists, and is best done by reputable, world-class cloud service providers.  See our blog The Case for Moving to the Cloud.

Eliminate paper cheques

Make all payments electronically and eliminate paper cheques. The risks of using paper cheques and the benefits of electronic payment are detailed in Avoiding Cheque Fraud.

Use a password manager.

The days of being able to memorize all your passwords are long gone, with the average person now having well over 100 online accounts.  Passwords should be “strong” and unique to avoid your accounts being hacked.  It is virtually impossible for a person to memorize that many strong passwords.   To learn how password managers are solving this problem, refer to our blog Solving the Password Problem.

If you have already implemented these “best practices”, congratulations!    If not, we would be happy to chat with you about moving forward with one or more of them.   You will be glad you did!

If you would like to find out more about how you can reduce business risk, or you need help improving operating efficiency, reducing costs and strengthening your organization, please contact me at 613-727-1230 ext. 212 or rmacneill@otusgroup.com

Richard MacNeillFCPA, FCMA, CMC, Dipl. T. is a partner at OTUS Group, a team of advisors to business, government and not-for-profit organizations.

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Richard MacNeill
President, OTUS Group | OTUS Group
Holding Certified Management Accountant (FCMA), Chartered Professional Accountant (FCPA) and Certified Management Consultant (CMC) designations, Richard is also a graduate of the British Columbia Institute of Technology, holding a diploma in Computer Programming and Systems Technology.
Outside of work, Richard enjoys spending time with his wife and three children, and training for obstacle races.

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