PracticePeople In PracticeFDs ready for internet expansion

FDs ready for internet expansion

An emphatic 71% of smaller company FDs are looking to offer more services over the internet in the next 12 months.

But worryingly few of the FDs questioned in this week Accountancy Age/Reed Big Question survey was willing to his or her money where their mouth is. Hardly any of the 200 interviewees were willing to be named.

And most of the respondents clearly have their work cut out if they are to meet these targets: most appear currently not to be online.

‘We are setting up a web site to heighten our profile, so that more customers can have access to our details and goods,’ said one FD.

‘[We are] hoping to develop website and e-commerce sales sites, to reach more customers and increase sales,’ said another outlining the company’s plans to get online.

Many FDs say the internet can improve their company’s profile rather than selling products. But others consider its advantages to be grounded in business-to-consumer transactions, not the business-to-business trade.

‘The business is split into four separate sectors and some sections e.g. insurance are starting to sell products over the internet. It seems to be the way customers are going, and the company to our details and goods,’ said one FD.

One in ten FDs said they did not plan to increase the web presence because their products do not lend themselves to selling or advertising via the world wide web.

Harold Drycott, financial director of Millbank Holdings, said: ‘[It is] not that kind of industry. As a lot is made to specifications. [There is] not much we can advertise.’

With, it would seem the government’s push to encourage business to get online is working.

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