We love an acronym at The Peloton. So much so that sometimes we forget that not everyone is party to our little abbreviations and we are met with a confused look. We hate it when people use language that leaves us baffled and we always want our clients to feel at ease and that we’re explaining things in a way that they fully understand. With this in mind we thought we’d share with you some common accounting / business acronyms, and also some of our ‘Pelo’ favourites.
Accounting / Business acronyms that we use:
• PTR – Personal Tax Return
• Monthly DD – Direct Debit
• FYI – For Your Information
• TRO – Tax Return Only
• MTD – Making Tax Digital
• GDPR – General Data Protection Regulation
• LOE – Letter of Engagement
• POA – Payment on Account
Some ‘Pelo’ favourites:
QBE / QBQ / QBA
We are always looking for new talent to join our team at The Peloton. As any employer or in fact employee will know it’s important that any new person is a good fit for the team, and this works both ways. Here we recognise that it’s not just about what qualifications someone has and that often attitude is the key to your next superstar. So when we meet potential employees we discuss their strengths and weaknesses in terms of QBE (Qualified by Experience), QBQ (Qualified by Qualifications) and QBA (Qualified by Attitude), with the latter often being the most important.
WFH / WTF
Most of our senior team work from home one day a week. I absolutely love our open-plan office – it’s comfortable, contemporary, brilliant for easy communication, has a relaxed atmosphere with music playing and clients who are encouraged to pop in and join us for coffee or lunch. However, sometimes it can be a bit distracting and having a day to work from home and really GSD (see later point) is invaluable. WFH (Working From Home) is our way of tracking who’s in and who’s out in our team calendar. For some reason though it’s become WTF??
PRD and PRM
Each of our clients has a dedicated account manager who we call a PRD (Portfolio Relationship Director). At The Peloton we have four of them: Emm, Ben, Jo and Tam. We also have three PRMs (Portfolio Relationship Managers): Han, Chris and Aleks who assist the PRDs and also help to train up our aspiring PRMs: Alex, Del and Harry. We’ve structured it this way so that clients always have at least one point of contact and there are always two people familiar with their accounts.
This is a real Pelo favourite and something we pride ourselves on. We have an extremely motivated team who understand the importance of time-management and prioritisation. We recently watched a video on time management. It so old that I think it was actually on VHS, but the message was still so relevant for today. Since then we’ve all applied the main recommendations and productivity is at an all time high. We are proud to GSD ( Get Sh*t Done).
If you need help to GSD or just fancy having a chat with one of the team then we’d love to hear from you.