5 reasons accountants should help small businesses invest in smart tools
There’s no denying that many small businesses are facing challenging times in a COVID-19 world. Small business owners start their businesses because they are resilient and determined. They know that tough times call for smarter thinking that helps them grow stronger and continue to prepare for the uncertainty of our current moment.
COVID-19 has been an unexpected catalyst for tech adoption, with many small businesses shifting to a digital business or operating model. More and more accountants and bookkeepers are recognizing the need for small businesses to upgrade and incorporate smart technology to survive and flourish in our ‘new normal’.
Investing in smart technology has become a priority. Without the right systems in place, small businesses are vulnerable to greater risk. Previously, the best Technology was only accessible to big businesses, but now, even small businesses can access affordable tools that will give them a highly competitive advantage.
If you’re focused on ensuring your business clients remain lean, profitable, and geared for growth, here are our top reasons why you should help them invest in smarter tools
Improve small business efficiency
Anything that streamlines repetitive or routine tasks saves time and therefore money. Ask your clients to review the bottlenecks in their business operations. Then investigate whether software could help automate a part of the process for more efficient and accurate handling of data. Automating these tasks reduces double handling of information, as well as the likelihood of error. It also frees up time and sets up proactive notifications so your clients focus on more productive and high-value aspects of business operations. This also saves you from having to double and triple check your clients’ numbers.
Prepare for small business growth and scale
Good systems are the foundation from which your clients’ businesses can scale and grow. Being agile and open to opportunities is easier when they have robust processes in place to manage operational growth. Good tools also enable easier decision-making because both you and your clients can access accurate data and transparent reporting that make it simple to track progress. A slick operation run through scalable tools is also attractive to investors or potential buyers in the future.
Manage contactless\remote operations
COVID-19 lockdowns have taught businesses how important it is to be well set up for remote working. Online software solutions (SaaS) are affordable and scalable, so are a great option for small business operations. Because these platforms are online, users can log-in from wherever they are working and access necessary tools and data to continue business-as-usual. This gives your business owner clients confidence, knowing that no matter what happens, their entire team can continue to deliver the same standard of service, while also managing things like HR, payroll, accounts, or procurement remotely. This is also true for accounting firms and advisory practices. Smart tools not only help your clients be more flexible but can also help you stay on top of everything, as we all increasingly work in more varied locations.
Deliver better customer experience
Purchasing decisions are based not just on price and product, but on customers’ overall experience. Recommend that your clients use smart tools to automate sales processes and help deliver a frictionless, consistent and streamlined experience for customers. These tools also provide access to customer data that deliver helpful insights your clients can leverage to improve products, services, customer care, marketing campaigns, and sales initiatives.
Data and information transparency
It’s crucial your clients understand that the best way to prepare for the future is to have a very clear picture of where they stand today. The right technology provides transparency over financial figures and connects different parts of a business. For example, combining Xero with a tool like Aider effortlessly creates a system where data flows between platforms. This ensures that no part of a clients’ business is managed in isolation. With a clear understanding of business performance, clients can work with their accountants and bookkeepers to make data-informed, confident decisions.
Small businesses need to be able to adapt quickly and operate with dispersed or smaller workforces. These reasons are just a sampling of the ways that smart tools can help advisors power up their clients’ businesses. With so many choices of apps out there, it’s easy for clients to get overwhelmed. With a smarter tool, like Aider, your clients get a personal digital assistant that connects to the other business apps you recommend so they can stay focused, get the information they need to work more efficiently, and you both can see the data that helps them weather the hard times of COVID-19 while also looking towards the future.
Find out more about Aider by visiting our website to see how your accountant or bookkeeper can help you as a small business owner.