What is Resilience and Why Do You Need It

Resilience is something that we're very proud of at AFP, it's a quality that we bring to all our client relationships and one which we couldn't do without! So what is it, and how does it benefit you?

Glass of water
 

What is Resilience?

Resilience is a fundamental building block of the service we offer our clients, it is the sharing of knowledge and processes both within and across teams, that mean more than one individual can cover an account. It ensures that the level of service continues regardless of holidays, illness, out of office meetings and leave etc. Resilience makes sure that we provide cover for holiday and illness, and can always lend a hand when someone is busy. 

Why do you need it?

Building in resilience helps spread the workload within the financial accounts team, as we grow and take on more clients we inevitably have some members of staff who are nearing full capacity, and so being able to divide clients between team members can help alleviate pressure and ensure that all the necessary tasks are completed to a high standard. In addition, increasing capacity by splitting client tasks between financial accounts team members can also help raise the quality of work done by enabling staff to focus more closely on a particular task and to do “tidy-up” work (e.g. checking each outstanding trade creditor to supplier statements, updating schedules of all balance sheet accounts). This means that our clients can be assured that they have people on their account the whole time – they don’t have to worry about holidays or sickness or a lack of continuity should a member of staff leave (all of which you would have to do should you in-house back office services).

How do we manage it?

In financial accounts each client has either a principle accountant (backed up by an accounts assistant) or two principle accountants. In addition to the day-to-day, there is also a named resilience person depending on the size of the business or project: this person knows all the necessary information, contacts and processes and is able to step in to cover the principle person/s as and when needed. This can present a challenge in the financial accounts team as knowledge has a tendency to be gathered by the principal person working for the client, so we work to find ways to effectively share this information within the team. The designated resilience person may not work on the client for a significant period of time if they do not have any regular tasks associated with that client, so communication and knowledge sharing is very important.

If you would like to find out more about our resilience services, please contact hello@afpservices.co.uk.