Shannon says there is also a wealth of free and cost-effective options available to every small business embarking on a digital transformation journey, including sales, marketing and operational tools from companies such as Xero, which offers affordable accounting and bookkeeping services.“Now, more than ever, big data and being able to analyse it are important for business growth.
Online accounting tools, especially those that can be linked to your bank automatically, also have benefits. Small businesses are often not able to give banks the kind of information they need to assess requests for funding and support, but with these accounting tools, you can give your bank access to the information it needs, in the format that it requires.
Web-based tools, such as Nedbank’s Market Edge, can also draw rich data from card transactions to help business owners make more informed business decisions about the present and the future. Shannon says ultimately, all these digital tools are out there for business owners to discover and use in empowering ways.
“Every part of your business, from sales to finance, can be revolutionised through technology. The sooner small businesses embark on this journey, the sooner they will reap the rewards of using innovation to their advantage.