Small businesses are always looking for new ways to grow and develop, and for that to happen, there needs to be available cash flow.
An SME can have pages of great ideas on where to go next for the best profitability, but without the money to pay for it, there is no expansion. In the world of digital technology and people turning to their mobile devices for everything from productivity to entertainment, there are ways that businesses can improve their profit margins simply by using apps.
Here are four apps that your SME should be using:
DocuSign is an electronic document reader that allows a recipient to receive, review and digitally sign contracts or invoices, for example. The use of the app, which is also available as a website platform on computers, will allow your company's invoices and contracts to be sent and received virtually instantly.
There will also be no need for paper, as the entire process can be done digitally. Savings can be made by not spending money on paper and postage, while also helping the environment.
A communications client with everything that you could possibly need. Slack combines emails, texts and other instant messaging into one platform that receives and delivers from one place. Without having to switch between a phone, log in to an email client and then also check an instant messaging app for that lost communication needed desperately, Slack allows you to keep everything in one convenient place.
According to data from Flurry, messaging apps are used 4.7 times more frequently than any other app every day. With so much use comes a consumption of time, and with everything coming into one inbox with Slack, time spent looking around the various clients for emails and texts will be minimised and efficiency will increase.
Deputy takes the pain out of creating timetables for your staff in a simple and clutter-free platform.
With basic attendance tracking and the ability to upload data straight to payroll software, Deputy will save you valuable time and allow your staff the same benefits as manual payroll entries will be a thing of the past. You can also open work-wide communications within the app itself.
Starting at just US$1 per month per employee for basic scheduling, Deputy won't take a large toll on the accounts either, so you can rest assured knowing that your scheduling will be taken care of.
4) Office 365
SMEs that don't have access to the required funds needed for technological upgrades will be at a disadvantage.
Microsoft offering cloud and desktop operations with document processing is a surefire way to increase employee efficiency. Keeping the office connected, or even having connections with people that work from around the world on one platform is a great idea. Office 365 allows word and spreadsheet processing across computers and mobile devices as well, which means that even on-the-go your company can continue operating as normal.
Creating access to the apps
While these apps sound great to use, there is the requirement before setting them up that your office goes digital. Technological upgrades cost money, and SMEs that don't have instant access to the required funds needed for purchasing phones or computers will be at a disadvantage.
When cash flow is tied up in unpaid invoices, debtor finance can help. By taking advantage of the money your organisation is owed instead of waiting around for the payments to come through, SMEs can expand whenever bosses see fit, not just when another business decides to pay.
Don't wait for clients to pay you, contact Cashflow Finance today and learn how they can provide your SME with the capital it needs.