How to Use Tech to Manage Your Small Business Money

If you’re a small business owner who hasn’t made the transition to modern technology for making financial management easier, there’s really only one question for ask: what are you waiting for? Technology has come a long way over the last two decades; it’s no longer just for scientists and robotics-engineers. You can utilize technology right away and see results for your business with the help of digital applications, software and websites. Here are some of the most compelling reasons your business should consider for taking advantage of all the opportunities technology has to offer.

Software

Modern technological software has evolved beyond all recognition over the last decade. While the advantages to using software are numerous most corporations find value in one specific reason: businesses that utilize technological software when managing their affairs, on average, see a twenty-six percent increase in productivity for their employees. CRM software, for example, seamlessly affords clients numerous advantages like simplifying market development strategies across the board. The majority of services are cloud-based, making them easily accessible no matter where – laptop, desktop, tablet or smartphone – a user decides to sign in. Business owners also get the opportunity to customize their software to meet the needs of their growing business.

Websites

How can you use the internet to your advantage for your small business? In a study conducted by The Atlantic, over a billion websites exist in the world today – thousands of which aim to assist business owners and entrepreneurs better manage their finances. Wise Bread is a personal finance forum by which users gain access to experts who bestow advice for spending less and saving more. MailChimp is another great example; it is an innovative website that assists clients seeking to better manage their advertising campaigns. Nearly every task in your business has a shorthand version online – you just need to search for and find it.

Digital Applications

There is a whole world of helpful digital applications at your disposal that can simplify even your company’s most complex financial situations. From budget trackers to accounting software and everything in between, modern applications make developing a strategy for financial tech as simple as ever by taking all the uncertainty out of corporate money management. Using analytics to drive better decision making is helping companies grow faster than ever.

Due, for example, is an easy-to-use professional service that allows its users to send invoices directly to clients, view status updates for payments and also send helpful reminders for due dates. For the business owner who despises accounting, QuickBooks Online is an incredibly popular cloud-based accounting application that’ll solve all your woes. Here are just a few more of the top applications on the market today:

  • Expensify: take a photo of your receipts and Expensify converts it to a document for easier filing
  • InDinero: offers accurate, up-to-date snapshots of the financial health of your business
  • FreshBooks: create and receive client invoices on one convenient portal.

Technology affords its wielders numerous advantages that more than speak for themselves. Don’t fall behind the curve. Bring your company out of the Dark Ages by incorporating technology into your next strategy – before your competitors beat you to it!

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