Recent research from Commonwealth Bank reveals that small businesses adapting to and adopting new technology such as subscription services are more likely to expect revenue growth. The study found that 61 per cent of small businesses who are “early adopters” are expecting revenue growth this year, compared to just 44 per cent of middle-of the-road adopters.
In days gone by, one of the standout problems that SMEs faced was the inability to compete with bigger, more recognised brands due to being priced out of using software tools that could significantly grow their business. Thanks to innovation across sectors, the playing field has been levelled as technology companies recognise that accessibility is key to unlocking new customers and markets.
One of the main reasons for the rise of affordable technologies available to SMEs, is the introduction of subscription models instead of traditional licences. Small-business owners are now able to easily and affordably tackle important areas of their business such as payments, invoicing and reporting.
Here are some of the tools that SMEs can adopt to transform their business:
Dropbox Business is a file sharing and cloud storage solution which enables employees to share, sync, and collaborate on files securely. Monthly subscription costs for Dropbox Business start at $11.57.
Tableau is a self-service visual analytics platform that enables organizations of all sizes to unleash the power of their most valuable assets: their data and their people. Tableau’s mission is to help people see and understand their data. Tableau subscription starts from $46 a month.
Invoice2go makes it easy for small business owners to track work and get paid; enabling them to send great looking, professional invoices on the spot and collect online payments using one simple app. Annual subscription costs for Invoice2go start at $30.
Slack for Teams
Slack brings all businesses’ communication together in one place, providing real-time messaging, archiving and search for modern teams. The monthly costs for Slack for Teams start at $6.67.
TruRating is a customer feedback platform which enables businesses to gather representative consumer ratings affordably and simply. The initial sign up fee for TruRating is $100 and monthly fees start from $25 per month (per outlet).
Mac Bryla, Senior Product Consultant, Tableau ANZ