These days, everything can be done on mobile. There are millions of apps out there that help you accomplish everyday tasks such as booking a hotel, scheduling a workout class, and finding a dog sitter. The old-school banks have even created apps allowing you to view your bank account and deposit a check in a matter of seconds. The reality is that today’s consumers expect mobile solutions, so why wouldn’t business owners expect the same?
Mobile solutions can solve both the peculiar and universal challenges business owners face day in and day out. Just think about it. Perhaps you have a trusted barber, a favorite yoga studio or you frequent a local coffee shop. Their time is best spent cutting your hair, teaching you downdog and making your latte, not reconciling transactions, catching up on inventory or paying the bills. The problem is, these business owners have to keep up with these tasks in order to stay in business. That’s where mobile solutions come in. Mobile solutions save business owners time by allowing them to work anywhere, anytime, so they never have to miss a beat.
Here are the top reasons why mobility is crucial to your business accounting and how mobile accounting solves your small business dilemmas.
The Pros of Mobile Accounting
Mobility allows you to make decisions on-the-go without being forced to slow down. As a small business owner, you can’t be tied to a desk. You wear many hats and your ability to perform is hampered by staying in one place. Taking your accounting to the cloud gives you the freedom to operate anywhere, anytime.
It’s no longer acceptable to rely on last month’s data to make today’s decisions. So why wait 30+ days to address your financial needs? Mobile accounting delivers the data and insights you need in real-time, so you can make your most important decisions in right now.
Today’s typical small business owner might use services like Xero or Quickbooks for accounting, Gusto for payroll, Expensify for expense management, Shopify to manage channels, Salesforce for dashboarding or Bill.com for bill pay. Frankly, that’s just too much. There’s an overwhelming amount of administrative work to be done, and jumping from login to login to see all of your information makes admin work tedious and time-consuming.
With mobile accounting and integrations, business owners can access all of these solutions on one platform, with one login. Owning a business can sometimes feel chaotic. Your business solutions should keep you organized and give you peace of mind, not add to the chaos.
Reduce Costs & Mistakes
Mobility changes how you operate, not just by adding flexibility, but also by reducing costs and mistakes. With mobile accounting, you don’t have to manually crunch numbers and you don’t have to pay the big bucks to digest your most important financial insights. Mobile solutions present the information and numbers you need, when you need them, in an easy and digestible format.
The productivity you gain when you choose mobile solutions is invaluable. Just think about it. With mobile accounting, you can access important documents, bills, invoices, and financial insights no matter where you are. This accessibility can make the difference between going to your kid’s soccer game or being stuck in the office. With mobile accounting, you can be just as effective without making a sacrifice.
It seems like an obvious connection, but there’s more to mobile than just facilitating conversation between you and your BFF Jill (anyone remember that AT&T commercial?). As a business owner, mobile solutions and apps make accessing your most important stakeholders and customers easy. With mobile accounting, you can bill a customer or reach out to your account manager with your fingertip. Mobile apps and solutions are great because they allow one more touchpoint between you and your customers, as well as you and your account manager.
There are a lot of good reasons to go paperless. Mobile accounting is one of many ways that can help get you there. With online bill pay and invoicing, you don’t ever have to manually send an invoice. Gone are the days of keeping all your receipts in that shoebox above your desk. You can upload and track all your receipts on your mobile accounting app. Even the IRS enables you to file your taxes on mobile! If the IRS is more ahead of the game than you, it might be time to rethink your approach.
We’re living in a mobile-first world, and as a business owner, it’s important to take notice. Unfortunately, most business owners are still forced to complete their administrative tasks from their desks. And, most real-time accounting solutions for small businesses don’t have a mobile app.
When considering an accounting solution, we strongly encourage looking for a solution that can match the speed and mobility of your business. ScaleFactor works with growth companies to provide financial insights and data that can be viewed and utilized on-the-go. Learn more here!