Other than beating the competition, investing in tech can actually boost business growth as well. It is the basis of any organisation’s developments in internal operations as well as customer-centred practices.
According to research, 44% of businesses increased their spending on tech in 2020. This shows the significant role played by modern technology solutions in outperforming the competition and driving innovation within organisations.
To be precise, digitisation is one of the main ideas behind such growth. With digitisation across various operations within your organisation, you can maximise the potential growth of your business by automating and advancing financial and customer service processes. Digitisation allows you to cut costs significantly, thus gaining additional revenue and greater profits.
Here is another fun fact: two-thirds of companies nowadays use at least one emerging software package, while more than two-fifths use numerous technologies in their business processes to improve results. However, choosing the right software for your business is the key to success.
Read on to learn about how you can promote business growth through digitisation.
1. Employing Cloud Technology to Improve Revenues
Incorporating cloud technology into your business strategy, whether on a micro or macro level, can bring your company’s profitability and efficiency to a whole new level. Investing in big data and cloud tech is the foundation for beating the competition in terms of revenues and growth.
The essentials of cloud tech allow you to execute and manage your operations from anywhere, anytime, and across multiple devices. This enables remote workers to keep track of their tasks without being physically present in the office and eases the communication between employees and their managers.
Nowadays, cloud services include accounting as well. Cloud accounting is not new, but it has been overlooked by many business owners, especially those who run an SME. Click here to learn more.
Cloud also provides the safest synchronisation for all your essential data and documents. The encryption is advanced with password protection to avoid information theft.
Remember to incorporate cloud technology into your business operations to reduce costs and increase productivity.
2. Stay Connected With Web Conferencing Tools
Imagine how much time you and your employees could save every year if meetings and conferences were digitised. There are various mobile apps with numerous functions that make virtual meetings and conferences a reality.
With the pandemic raging across the globe, strict stay-at-home orders are being adhered to by professionals. This kills one of the drivers of a productive workforce: team members’ ability to stay updated on business operations.
It became difficult for team members to cooperate in real-time until software like Zoom and Microsoft Teams became the norm for meetings and conferences.
This improves engagement, productivity, and business growth in an environment where team members can share documents and initiate discussions, all in real-time, with reduced time and costs.
3. Digitise Your Finances
Issuing paper invoices to clients and signing cheques not only hinders the productivity of your business but it also has a negative impact on employees’ motivation. Imagine having a towering pile of cheques and invoices scattered all over your desk.
Save yourself from this unnecessary hassle by digitising your finances. Sign up for our cloud accounting app. It enables synchronisation with your bank statement from your accounts. In addition, it comes with online invoicing software that allows you to issue invoices to clients online.
Digitising your finances is self-evidently profitable since it can save time and costs. Furthermore, as mentioned earlier, the safety offered by cloud services is also one of the reasons why you should invest in them. Our bookkeeping feature is encrypted to protect your business data.
In general, if you are looking to improve your cash flow forecasting, budget planning, and even building employee payrolls, try our app. It is designed specifically to streamline your finances by managing bills and even, where applicable, tracking inventory.
In a nutshell, these are the three significant ways to promote business growth through digitisation. Cloud technology seems to be the fundamental way of growing your business amid the pandemic. Try our software here. For more information, feel free to get in touch with us.