We’re lucky to live in a day and age where we have so much technology at our fingertips. Yet it’s surprising to me that so many businesses don’t take advantage of affordable, easy-to-use online tools to manage their business finances. After all, most Aussies are smart when it comes to their personal use of technology.
In the seventh episode of The Mentor, we saw Mark talking to Eva, a new mum and owner of a high-end fashion store, who didn’t have a handle on her books. And she’s not the only one.
While Eva has been in business for around eight years, at Intuit, our research has revealed that more than six in 10 startups – people who were in business for three years or less – use spreadsheets, manual methods or, pen and paper to manage their business finances.
It’s not about being tech-savvy, it’s about saving serious time and effort. To help Eva see just how easy it can be to automate her books, we sent in our very own QuickBooks expert, Bianca Bowron-Cuthill.
By simply moving her business to cloud accounting software like QuickBooks Online, Eva can now review all her business details at just the click of a button. She can store her receipts online, invoice her suppliers from her mobile phone and quickly check her sales and profits every day.
Not only will Eva save time shuffling papers every week, but she can clearly see how her business is doing at any time of the day or night. As Bianca said to Eva, if you don’t know your numbers, you don’t know where your business is going.
The question is, could your business benefit from moving to the cloud?
You can find many more tips on how to manage your business’ finances at the QuickBooks Resource Centre.