Last month we looked at the Future of SME’s in South Africa. In this blog, we explore the benefits of taking your small business digital by managing, collating and submitting information using cloud technology.
Xero is a cloud-based accounting software that connects people by means of trusted relationships with other small business clients and through online collaboration. It offers the service of transforming the way people do business and aims to assist the growth of that which is at the heart of our economy; small businesses.
This is achieved by offering ways in which businesses can thrive such as tools, information and connections. In this blog, we highlight some of these tools and applications that can be beneficial to SME’s making business more effective and efficient.
- Onboarding App: Practice Ignition
This is about automating your admin and the paperwork that goes with it when signing a new client. Once you have created an online proposal and a client accepts, they’re automatically set up as an organisation in your accounting software. You can also use these packages to automatically raise invoices for clients who are on a subscription service.
- Digital Marketing and Client communications: Boma
Boma is an app that allows you to do all your marketing in one place and publish it to all social media platforms at once, including email. It will also help you find quality content to implement into your posts. This software offers performance reports such as; did people look at the content, click on it, follow a link back to your site? It also offers smart suggestions about when to communicate with certain contacts and the relevant topics of discussion.
- File Management App: SuiteFiles
This app allows you to keep all your client documents online so that you have access to them and make edits anytime, anywhere. It saves you the hassle of performing regular backups and server management.
- Document Processing Apps: Hubdoc and Receipt Bank
Doing the accounting taxation and financial management for a business involves a lot of endless retyping data and filing documents. Hubdoc and Receipt Bank offers the technology that automates the paper chase. They work by collecting data from invoices and uploading it into your cloud accounting platform, ready for reconciliation. This data can be captured through a phone app, email or manually and uses optical character recognition to understand the content. Another functionality of these apps enables them to fetch statements automatically from your suppliers and customers such as banks and investment platforms. You can also have multiple employees across the country all uploading documents to one file simultaneously. Utilising apps such as these will provide a 10 times efficiency increase in your paperwork and filing which means you also save more time.
- Reporting Apps: Fathom, FUTRLI, Spotlight Reporting
Financial reports that depict major insights buried in tables of numbers make them difficult to interpret for many small business owners which limits overall communication levels. The apps listed offer chart and graph options that are simple to create and easy to interpret which means greater understanding for the client and therefore more value added to your work efforts.
These are just a few of the applications that you have at your disposal and which aim to assist the growth and success of your business should you choose to utilise and make the most of what they have to offer. Contact us at firstname.lastname@example.org if you need any further assistance.