In my last two columns, I introduced you to two of my favourite mobile applications – Xero and Receipt Bank. I use them on a daily basis and consider them to be part and parcel of my business. The growth in use of mobile devices has led to an explosion in the development of mobile applications. Small-to-medium businesses are using these applications to improve their processes and help their customers, while others have jumped on the bandwagon to develop their own applications for their staff to use or to sell as a product.
I recently caught up with one of the top IT gurus in town during which I learnt that an increasing number of people have begun using their mobile phones (installed with specific applications) as a credit/debit card to purchase and pay for bills instead of using the conventional credit card. He mentioned that even banks are surprised at how their customers are quick to adapt to such new technologies. In fact, consumers are now using mobile applications to find information about local businesses, search for real estate, and compare products and prices while shopping online.
I can certainly foresee more businesses using such applications as part of their daily business operations given the shift from a knowledge to green economy.
At Tailored Accounts, we also use Xero and its add-on features which enable our employees to record their working hours and time-bill our customers at the same time. With Xero, I can also approve my staff leave applications, and manage accounts receivable and payable using my smartphone from any place at any time. Xero allows business owners to manage all aspects of their businesses as the software is able to integrate seamlessly with other applications such as CRM, inventory management, invoicing and job systems, and so on. You can visit the following website – https://www.xero.com/au/add-ons/ – to learn more about the different applications that can be integrated with Xero.
The financial services industry has long led the development of digital service delivery models and addressed many of the challenges and risks that the economy will face, hence it comes as no surprise that there is a proliferation of mobile applications with the increased use of smartphones. For your part, keep yourself updated with the latest technological trends so as to gain 24/7 access and control to your accounts and financials.
My foremost advice is to use mobile applications that complement your business environment and accounting system(s), since what works for other businesses may not necessarily work for your business.
At Tailored Accounts, we can help your business to build a mobile friendly cloud accounting system.