I am Corinne Smith @ Altitude Advisors Ltd, Director & Chartered Accountant. I will be writing a financial article each month to help businesses and people in our community. I have been working with businesses for many years and I am a business owner like many of you.
My article for October is on Moving Your Business Online. There are many reasons why most businesses are now choosing to be completely online and have no files or paper anywhere to be seen.
What are the benefits of moving your business online?
Leading research has revealed that most consumers like to search for information online before they shop. So if you don’t have a website, webstore or social media page, then this is a great place to start to bring your business into the online world. Most of us do this, but there are many other online solutions for the rest of your business.
Moving to the cloud can work for every part of your business. Imagine having access to job costing, time tracking, receipt/expense tracking, inventory management, fixed assets, accounting and payroll systems with an internet connection. Get instant access to your business data anywhere in the world, at any time of the day or night.
The cloud has been a game changer for technology, making it easier for businesses to get access to world-class software at more affordable prices. So let’s take a look at some benefits of moving your business online:
- Improve data security and aid disaster recovery by having your data stored safely in the cloud
- Automatic software updates save you time and money
- You can have a store location without geographical boundaries
- You can work anywhere and anytime with an internet connection with real time data and better reporting insights
- Provide a 24/7 way for people to find out more information about your business and to get in touch with you
- Generate more leads and build your business’ credibility and exposure
- Deliver broader value to a much wider range of customers
- Connect to apps that talk to each other to eliminate data re-entry
- Cloud software tends to be offered as a subscription service, so you’re not tied into contracts
- Gain access to the latest technology for relatively low prices
- Environmentally friendly, get that feel-good feeling by reducing your carbon footprint
- Potential to make money while you sleep by selling products online and/or taking prepaid bookings
History tells us that it’s the most agile businesses that can endure and survive volatile economic landscapes, and the commonality that these businesses share is that they use cloud-based tools or have an online presence. And, you can too; regardless of whether you’re a sole trader or a small business with a few employees.
If you haven’t made the move yet, then let’s address some of the reasons that may be holding you back.