The Best Cloud Technology for Small Businesses
The cloud. It’s an elusive concept. It’s not just a trend or a way for Steve Jobs to control your life. The cloud is an asset that will save time, money, and your sanity.
Each day, small business owners, managers, and employees face time-consuming tasks they hate. Whether it’s juggling employee schedules, reviewing expense reports, or managing cash flow, these arduous processes involve a lot of paper and a lot of pain.
The answer? Adopting cloud technologies that address these crucial, time-sucking business priorities. When you introduce the proper cloud-based solution you can transform your business.
Unbiased Example: Electronic bill payment. An ACH payment – courtesy of a few clicks in the cloud - is much quicker and faster than writing and mailing a paper check.
We here at Bill.com are obsessed with small businesses and care about making their lives easier. We also are on a personal mission to remove paper from every vestige of business. We really hate that stuff. Here are the top, paper-fueled functions you can move to the cloud to improve your business.
Top 5 Tasks You Should Move to the Cloud
We always get down on paper so it’s time we explain why. There are three ways paper works against the proper management of your company’s finances. First, it doesn’t give real-time information. Second, data from multiple sources must be reconciled, which is usually a time-wasting, manual endeavor. Finally, re-coding and re-entering data from paper into spreadsheets and software programs can lead to mistakes such as transposed numbers or missed entries.
Move your accounting into the cloud. You’ll find that you can digitally manage cash flow, track income and expenses, organize bank and credit card transactions, and backup data online. Not only will you have information in real-time, but you’ll avoid excessive time and potential errors related to reconciling and reporting.
2. Accounts Payable
When paper runs accounts payable, efficient processes take a back seat.
Invoices must be shuffled from reviewer to reviewer, resulting in a poorly documented workflow and audit trail. Your business can miss important due dates without constant follow up. Paper checks cost businesses time and expenses such as check stock, printing cartridges, stamps and more. If payment is late, then a company will face additional fees and irate vendors.
When you take all these labor-intensive processes and migrate them to the cloud, you introduce conveniences that save time and money such as automated workflows, documented audit trails, and electronic payments.
Recommended Solution: Your friendly neighborhood Bill.com.
Don’t lie to us. No one enjoys a paper-based expense reporting system. Uniting receipts, filling out reports, and copying them before turning them in takes a significant portion of time that could be utilized for more profitable activities. Processing the reimbursement forms and authorizing paper check payments present yet another time-sucking initiative.
Cloud-based expense report solutions eliminate the paper and replace it with intelligent automation that can handle your expenses in real-time. You scan your paper receipt (or forward electronics ones) and the solution will code and report the expense. It also evaluates the expenses based on corporate policies, which means "yes" to your deconstructed cheeseburger with a prospective client, and "no" to your United Airlines first-class Bloody Mary.
Recommended Solution: Expensify. Seriously.
4. Time Tracking and Scheduling
Paper automatically complicates any process related to employees, time tracking, and scheduling. The complications increase as you add more employees. Instead of asking employees to punch time cards or trying to schedule shifts based on information from multiple sources (time requests, notes, texts, oral requests, etc.), let a cloud-based app handle the task for you. Apps focused on this task enable you to track PTO and vacation, alert employees, set and edit schedules, and work from your preferred device.
Recommended Solution: TSheets. It will rock your world.
5. Data entry and Document Management
As a business you see paper bills, receipts, and documents coming in each day. Reconciling all this paper and entering it into software commands a lot of administrative overhead.
But what if you could eliminate data entry altogether?
By moving financial document management to the cloud, you can turn to solutions that will automatically fetch your bills and statements and enter them into the appropriate systems like QuickBooks or Xero.
Recommended Solution: Ooh, ahh, Hubdoc!
These solutions are some of the best software for small businesses. They're at the top of their game, and most offer free trials or in-depth demos so you can check them out first-hand. It’s time. Adopt cloud technology, and make your life so much easier.