According to the evolutionary theories of Charles Darwin, “It is not the strongest of the species that survives, nor the most intelligent, but the one most responsive to change. The same could be set for small businesses. The rise of mobile apps and cloud capabilities have afforded small businesses with the unique opportunity to tap into business benefits that have the ability to transform the enterprise’s finance management and record-keeping capabilities.
While 52% of small businesses now use the cloud, the flip side of that statistic is the fact that 48% of small businesses do not tap into these benefits. This provides an excellent opportunity for your business to migrate your books to the cloud, giving you business advantages that set you apart from competitors. Here are three signs it is time for your business to adapt by embracing change and migrating your books to the cloud.
You (And Your Business) Keeps Moving Forward When You Leave the Office
Life in the 21st century requires a careful balancing act of work, play and everything in between. With the constants of everyday life, it is little wonder that 70% of employees take the office on the road. Whether you need to manage the books in between leisure time with the kids or before a date with your significant other, migrating your books to the cloud makes bookkeeping work around the details of your life.
For employees, managers and business owners alike, the ability to take finance management everywhere is a literal breath of fresh air. Instead of being stymied into handling company finances, employees have the freedom of movement to work from anywhere. Not only does this give employees a better work/life balance, it also provides tangible business benefits stemming from this freedom.
When employees and businesses have the freedom of managing finances from anywhere, business finance management is capable of being handled the moment such work is needed. Rather than being forced to make these decisions when employees are back in the office, quick and decisive action can be taken. This, in turn, leads to improved business productivity as well as business insight.
During the course of normal business hours, there is only so much attention that can be placed on business finance management. A successful small business owner, for example, wears many hats. As such, it is an inevitable reality that business owners may not have time to go over business finance management in the office every single time the need arises. That sounds great in theory, but the real world works differently.
Pressing business needs arise at any moment, and when they do, finance management may not happen in the office. When such a situation arises, business owners and employees with a finance management app still have the ability to keep the business humming without missing a beat via cloud-based financial management. Compare these benefits to the rigid inflexibility of solely office-based finance management, and the decision is an easy one to make. Having more flexibility is a good thing for small businesses, and only the cloud offers these business improvements.
Searchable Digital Records Enhance Business Finance Management
It is a general rule of life that it is difficult to get to your destination if you have no clue where you are trying to go. Recordkeeping is no different, a fact many small businesses know all too well. With physical recordkeeping, even the best filing system becomes a chore when employees need to find a specific record. This assumes documents are never lost in the first place. According to PricewaterhouseCoopers, an estimated 7.5% of all physical business documents are lost completely. That same research conducted by PWC found that it costs an average company $122 to locate a lost document.
For the typical small business, losing more than 7% of physical documents that cost over $100 in lost costs to locate is a devastating proposition. Tack onto those business losses the fact that employee productivity is harmed and that precious minutes (if not hours) are wasted each day, and the benefits of searchable digital records become immediately apparent. The idea of locating any and all records in seconds is no longer wishful thinking for business that embrace the idea of moving books to the cloud.
Roy Stephan, a Director of IT, summed these benefits up nicely with the following quote: “With the cloud, individuals and small businesses can snap their fingers and instantly set up enterprise-class services.” Enterprise-class digital records that utilize the cloud and effectively sync with QuickBooks and a company’s existing finance management software is an idea that ought to resonate with any small business owner. Good record-keeping is too important to put up with sunk costs, lost documents and all the stress and inefficiency a physical storage solution entails.
If You’re Sick of Slow Transactions, Migrating Your Books to the Cloud is the Cure to What Ails You
Attend a NASCAR race or watch an Olympic race, and it is a foregone conclusion that all athletes involved are trying to beat each other to the finish line. What may seem less obvious to an individual small business owner is that a similar comparison is apt for small business success. Consider each business as analogous to a race participant in an athletic competition. In other words, speed matters in business.
The faster a business is able to handle business processes efficiently, the more time is freed up to do other essential tasks. Slow transactions, then, are a needless way to hamstring a business and hinder its performance. If you tire of slow transactions that weigh down business operations, migrating your books to the cloud will serve your needs in exemplary fashion and get you the sped up results your business demands.
Migrating books to the cloud opens up the possibilities of automated bill payments, and effortless syncing of those transactions with QuickBooks so that all transactions are easily posted on QuickBooks. In this way, business transactions are not only faster, the automated results make it easy to spend less time than ever on managing transactions. At the same time, the results are faster than ever. Sticking with the racing analogy, this is comparable to the speed and hands-free efficiency of having a dedicated pit crew that handles all your car (business) needs and gets you back out onto the race track in record speed.
If these three signs it is time to upgrade spoke to you, it is time to take action and get the help you need. CarlyApp provides the business benefits and peace of mind made possible via finance management in the cloud. Whether your business needs the paperless benefits of searchable digital records or rapid transactions from an app that provides these benefits outside of the office, the time is now to upgrade your business.
Expex is proud to give small businesses the advantage they need with the suite of features found in CarlyApp. Our app is available to customers with a free limited-use version, allowing business owners to try out some of Carly’s most attractive features. Contact us to learn more about Carly and the ways our app helps take your business to new heights.