When you're running a small business, it's crucial to have solid accounting practices in place. Doing so will help you quickly size up the financial health of your business, which will make it easier to make big-picture decisions about development and growth. Incidentally, it's worth noting that accounting isn't just about counting your money. It's also a matter of tracking your relationships.
It's vital to manage client information and help your entire organisation work together.
In the small business world, relationship building is everything. Your company might be dependent upon a few key clients for bringing in the lion's share of your revenue. If that's the case, it's vital to manage client information effectively and help your entire organisation work together using that information.
Moving small business relationships online
Once you understand that small business accounting is about relationships, the next question is how to manage them better. Increasingly these days, business leaders are figuring out that the cloud is the answer.
When your client data is in the cloud, it's easier for your entire organisation to use it collaboratively. Whether it's a salesperson looking to lock in a new customer, or a consumer care rep helping an existing one, everyone has one-click access to the information they need. This makes your enterprise more nimble.
Research bears this out, as companies today are moving to the cloud in droves. Bessemer Venture Partners estimated late in 2015 that by 2018, customer relationship management (CRM) processes will be 62 per cent cloud-based worldwide, and the global market for cloud CRM solutions will be worth $127.5 billion.
The cloud can reorient your whole business
If you choose to embrace this growing trend and adopt cloud business software, you're sure to uncover a wide range of benefits. One is the ability to manage relationships.The advantages don't end there, however.
Cloud solutions can realign your entire business. They offer a way to transform accounting, payroll processing, invoicing, expense reporting and more. In short, what we're talking about is an entirely new way of running a small business. You can take your gains in speed and efficiency and turn them into real growth.
Learn the ropes with Jiwa Financials
The cloud movement is happening quickly, and chances are good that you're part of it. If so, now might be the time to consider what Jiwa Financials training can do to improve your company's operations. Jiwa Financials is an Australian owned and operated company that aims to build quality financial software for your business.
We've been operating in this space for over 20 years, and our product keeps evolving. As technology improves, so too does our approach to cloud accounting. Get started today, and we'll show you the ropes – you won't regret it.
