Geeks2U Promise
We guarantee you'll love our fast, friendly service - or we'll refund your money.  
133,572 Happy Customers & Counting
Need tech support?
1300 769 448
Extended hours, 7 days a week
Home  /  geekspeak  /  Is your old-school finance system holding your business back?

Is your old-school finance system holding your business back?

finance

If your paperwork piles up while you’re away from your desk then it might be time to streamline your business with a cloud-based finance package.

Paperwork is one of those necessary evils when you run a business. You might prefer to spend all your time focusing on your passions, but the business won’t get far if you neglect your finances.

There was a time when all of that admin work saw you stuck at your desk for hours, wading through piles of paperwork and dealing with desktop software restricted to a single computer. If your job involved spending most of your day away from your desk then all that paperwork would need to wait until the end of the day, week or even month.

These delays can play havoc with your cashflow if you’re putting off issuing invoices, processing payments and chasing slow payers. As a result you might be working harder than ever, yet feel like you’ve got little to show for it when it comes time to pay your own bills.

Thankfully the new generation of cloud-based finance packages make it easy to manage your business anywhere, anytime and from practically any device. All your data is securely hosted online, so you can pick up your computer, smartphone or tablet and have everything at your fingertips. You also have the advantage of paying a monthly subscription for your finance system rather than buying the software outright in a lump sum.

The more finance processes you can automate the smoother your business will run, for example by automatically reconciling a customer’s payment advice against your bank statements and notifying you of outstanding invoices.

You can turn any handheld device into a portable payments terminal using a tiny contactless card reader, letting you do business on the spot while importing the transaction directly into your finance system.

Meanwhile it’s easy to track your expenses on the go, processing them straight from your smartphone rather than throwing all your paper receipts in a box until tax time.

A cloud-based finance package saves you time and effort every day, but you’ll particularly appreciate the benefits when it comes time to pay your quarterly Business Activity Statement or annual tax bill. Instead of spending days shuffling paperwork and scouring spreadsheets, you can now draw together that information with a few clicks.

There are several cloud-based finance packages to choose from, some offering optional advanced modules such as inventory and payroll. It’s worth seeking advice from your accountant and doing plenty of research to find the best fit for your business, rather than jumping in the deep end and hoping for the best.

Keep in mind that you’re not just looking for a finance system which meets your current needs, it needs to scale to meet your future needs so you don’t outgrow it quickly. That way you can get back to doing what you do best, knowing that your cloud finance package is taking care of business.

FacebookTwitterGoogle+Share

Recent News

8thgen

For decades now, if you were buying a PC, you essentially had two choices when it came to the processor that ran it. For the most part, Intel’s processors under various branding such as Pentium or Core were what you were most likely to hit, with rival AMD’s CPUs generally found in lower-cost machines, or… More 

spectremeltdown

Usually when you hear about large scale security problems, it’s because there’s been an obscure exploit of some incredibly complicated code that somebody’s worked out a way around, leading to the need for software patches, or an entirely human error where access was pilfered via purely social means. Hardware flaws that affect computer security aren’t… More 

password

2017 was a year of some very large security breaches across all sorts of companies, from smaller online merchants all the way up to bigger brands, such as the uber-leak that came out of, well, Uber, where a data leak saw the records of some 57 million users worldwide compromised. As such, you would think… More 

world

The ambition behind Google’s Street View was (originally) to provide a little more human context to people’s map searches. It’s all very good to say that a journey will take so many minutes, or that you need to make this sequence of turns in order to get to your destination, but it’s long been a… More