In today's challenging business landscape, finance departments across the country are grappling with a critical issue: skills and staff shortages. In research conducted by BDO, nearly three-quarters of medium-sized businesses are reporting this problem.
These shortages are further compounded by factors such as Brexit, digitalization, and fierce competition in the recruitment arena. The consequences are dire, with organizations struggling to fill gaps, maintain consistency, and navigate the complexities of finance and accounting processes.
Addressing the Skills Gap
Lorraine Allison, director of customer services at bluQube, recognizes the detrimental effects of finance skills shortages on UK businesses. Organizations are constantly investing resources in training employees, only to see them leave, taking valuable knowledge with them. Alternatively, they spend considerable time training agency staff, only to experience a lack of long-term benefits. With Brexit, digitalization, and intense competition in recruitment, the challenges have become even more acute.
bluQube's Innovative Response
To combat these challenges head-on, bluQube has introduced a series of new services designed to alleviate the impact of finance skills shortages. The software provider has made its own skilled staff available to work remotely with customer businesses on its cloud systems. This unique approach ensures continuity with accountancy processes and enables organizations to meet workload or project demands despite staff shortages.
Wide Range of Services
bluQube's new services cover a broad spectrum of finance functions. They include debt management, bank statement upload and reconciliation, finance director support, finance process reviews, catalogue item creation, data entry, expenses, automation payment runs, reporting, month-end processes, and system administration. This comprehensive offering addresses the multifaceted needs of organizations struggling to manage their financial operations effectively.
Success Story: Glyndwr University
Glyndwr University, a long-standing customer of bluQube, recently availed themselves of the new services to address their debt management challenges. The partnership involved deploying a bluQube employee who brought in-depth knowledge of the software and systems. The results were outstanding, with the recovery of numerous old and existing debts and a significant improvement in the age of outstanding invoices. By leveraging the expertise of the bluQube employee, the university saved valuable time that would have been spent on training new staff. Furthermore, the use of cloud-based software eliminated the need for additional IT resources and equipment.
Flexible Packages and Added Benefits
bluQube's new services are offered through tiered packages tailored to individual business needs. Organizations can implement these services on a subscription basis for cloud versions of the software. What's more, by deploying a bluQube employee to manage certain functions and processes, organizations can unlock additional modules of the accounting software, boosting productivity and efficiency without incurring extra costs.
A Partner in Success
bluQube prides itself on being more than just a supplier to its customers. By recognizing the struggles faced by organizations in meeting their workload demands and recruiting and retaining talent, bluQube has transformed into a valuable partner. Their skilled and experienced team works closely with customers, ensuring they extract the maximum benefit from the software while seamlessly fulfilling their mission-critical accounting, operational, and regulatory processes.
The scarcity of finance skills in today's business landscape has created significant challenges for organizations across the UK. However, bluQube's innovative services offer a glimmer of hope. By providing skilled staff to bridge the gaps and working as an extension of customers' teams, bluQube helps organizations overcome skills shortages, drive efficiencies, and maximize their potential.