Stay in touch with business with mobile and cloud tools over the festive season.
Will you be able to get away from your small business and enjoy the festive season with friends and family this year?
Along with the freedom of being a small business owner comes the responsibility of having to be there for a client or customer come rain, hail, shine or Christmas. However, it’s important for business owners to take a break, find time for themselves and share valuable time with loved ones, which is why utilising the time saving potential of technology is essential.
In recent years, many Australian small-business owners have started to take advantage of the benefits of digital technology, embracing apps and cloud services so they can get business done anywhere and anytime.
A QuickBooks App Survey conducted in July 2016 found 74 per cent of Australian small-business owners are using at least one mobile or web-based app to run their business, leading the way compared to their counterparts in the US, UK and Canada. In addition, 81 per cent of Australian small-business owners run their business using cloud storage.*
The research demonstrates the willingness of Australian small businesses to adopt modern technology and practices, like apps and cloud services, to improve efficiency and productivity; allowing greater mobility and options for people to work away from the office, whether at home or on holiday.
Recharge your batteries
Businesses need this flexibility to operate successfully over the holiday season, as well as to give employees, including the owner, a well-earned break.
The result of a study of sole proprietors commissioned by Intuit and conducted by Galaxy, in October 2016, showed that 83 per cent say the ability to remotely access information has positively impacted their business. Furthermore, they estimated the ability to access information via a mobile device saved them on average seven working weeks of productive time per year.**
This shift to remote working means small-business owners now work from a variety of locations, including their motor vehicle (49 per cent), client worksites (35 per cent), while on holiday (33 per cent) and cafes (33 per cent).**
While the benefits of mobile devices and cloud-based services have blossomed over the past few years, a surprising number of small-business owners still employ old-fashioned methods to manage their company’s finances.
The Galaxy Research survey found that 61 per cent of sole proprietors fell into this category, with only 36 per cent using financial management software, and of these 36 per cent, 23 per cent were still tied down to desktop software while just 13 per cent had moved to cloud-based systems. **
Look after your finances
These results show a distinct gap between the increased uptake in apps and cloud-based software for functions like admin and team management and the relatively slower uptake for finance software, especially cloud-based services. So, while many business owners are making good use of products like Dropbox and Deputy, a significant number still appear to be lagging when it comes to making the jump to cloud-based finance software like QuickBooks Online.
An essential part of your business is keeping your finances on track, even during the holidays. To that end, business owners need to be thinking about using cloud-based financial management software. After all, less time and worry spent on your business finances means more time for recharging your batteries and enjoying the festive season.
* QuickBooks App Survey, July 2016
** Galaxy Research, Self-Employed Study, October 2016
Nicolette Maury, Vice President and Country Manager, Intuit Australia
