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Spring has sprung! Spring brings with it the thoughts of new life and new beginnings, with vibrant flowers bringing colour and joy throughout this season.

As the weather warms, many of us engage in spring cleaning at home. However, it's also a great time to consider giving our businesses a thorough spring clean. There are lots of good hygiene steps that can be taken to improve your business processes and efficiencies.

Using technology to its fullest can ensure there is a true measure of the business's cash flow.  Reconciling the accounting software on a regular basis will help highlight potential issues with cash flow and profit margins that can be dealt with promptly.

The business debtor list should be monitored closely. Are there accounts that require follow-up? Are customers paying within their agreed terms or are there some that really should be considered bad debts?  Consider the processes in place to invoice customers. Are invoices being sent out quickly to receive timely payments?

It is also important to ensure the WIP (work in progress) of the business is managed carefully. Items sitting in WIP and not being invoiced will reduce the likelihood of being paid on a timely basis. Understanding the debtors list and having a gauge on the reliability of it being paid (and when) is really important to be truly across the business's cash flow. 

Take a closer look at spending patterns. Are there unexplained fluctuations in expenses?  Have you noticed a sharp increase in certain items? If you've noticed a sharp increase, consider adjusting commitments to ensure it is necessary for the business's needs. The business may be spending more with a particular supplier that could allow a negotiation of better terms or reduced rates.

It is important to keep inventory up to date and monitor inventory levels to enable a better understanding of customers' buying habits. Keeping too much or not enough inventory can have a direct impact on the business's costs and sales.

Staff are an integral part of a business and need to be managed and monitored to ensure the right people are in the right seats. Would the implementation of a mentoring program assist with staff development, or do they need further training in particular areas? Ensuring staff are happy and enabling them to see a future within your firm can assist with increased job satisfaction and productivity.

A business is more than just a way to make money. It's something to be proud of and look after. Taking time to improve the business can help it grow stronger. By looking at these areas, business owners can make sure their business is on the right track. A spring clean for the business might just lead to new opportunities and better results.