Systematize your business
Running a business comes with its own set of challenges, from managing projects and scheduling employees to keeping track of expenses and ensuring timely payments. While managing finances may not be the most exciting part of the job, it’s absolutely essential for maintaining profitability and driving growth. Fortunately, technology can make it easier. Here are our top 5 tips for using technology to help improve your business.
1. Accounting Software for Streamlining
Regardless of the size of your business, investing in accounting software like QuickBooks Online is a must. These platforms offer a full suite of accounting tools designed to integrate with other systems, allowing you to efficiently manage your finances in one place. From invoicing to tracking expenses and generating financial reports, accounting software simplifies the entire process, saving you valuable time and reducing errors.
2. Receipt Capture Tools for Organization
We understand the reality of running a business— you are so busy doing everything else, your receipts are usually stuffed in your pocket, wallet, or in the cup holder of your vehicle. While QuickBooks Online has a built-in receipt capture feature, we recommend more intuitive tools like Dext or Hubdoc. With just a smartphone camera, you can capture receipts on the go. These apps extract key data and automatically sync with your accounting software, ensuring your expenses are logged accurately and instantly.
3. Accounts Payable Automation for Simplicity
In any industry, dealing with multiple suppliers, each with their own payment terms, can be overwhelming, especially when you’re balancing so many other responsibilities. Tools like Plooto are designed specifically to simplify your payment processes. Plooto integrates directly with your accounting software, so you can easily track bills, schedule payments, and even set up approval workflows if you have a bookkeeper managing payments. This saves you time and keeps your cash flow organized.
4. Accounts Receivable Management with ACH
Managing cash flow effectively starts with ensuring you get paid on time, and Rotessa makes this easy. There is nothing worse than chasing your customers for payment. Rotessa allows you to set up ACH payments, automating the collection process directly from your customers' bank accounts on scheduled dates. It integrates seamlessly with QuickBooks Online, so payments are automatically recorded, reducing manual work and ensuring your books are always up-to-date. This simple solution improves cash flow management and gives your clients a convenient, secure way to pay.
5. Integration for Efficiency
The real power of technology comes from integrating these tools to create a seamless, efficient process. By connecting your accounts payable and receipt capture software directly with your accounting platform, you eliminate manual data entry and gain real-time visibility into your financial data. If you’re using a project management tool, integrating it with QuickBooks Online allows your financial information to flow effortlessly across systems.
Conclusion
Leveraging technology in your business doesn’t just simplify your accounting—it sets the foundation for growth and efficiency. Implementing and optimizing these tools can help you focus on building and expanding your business with confidence.
