4 reasons to use digital technology when you’re self-employed
Here are the four reasons to use digital technology in your small business according to Xero’s sole trader survey.
1: Cloud accounting software allows you to store and protect your data (87%)
For many businesses, the use of cloud accounting software is a huge benefit. Essentially, cloud accounting means that all of your bookkeeping is stored online. Not only is this a more efficient and precise way to store information, but it’s also safer due to all of your data being encrypted.
2: Digital technology helps you keep on top of your numbers (70%)
Many sole traders have reported that digital technology gives you a clearer and more detailed overview of your finances. By setting up a dashboard, you can easily see your all of your sales data, your business’ cash flow and any outstanding bills.
3: Cloud accounting software allows for better time and customer relationship management
By connecting cloud accounting software to other apps, you can know precisely how much time you’re spending on different tasks. It also makes marketing and communication easier, allowing you to maintain important customer relationships.
More than half of sole traders reported cost as being their main concern in regards to digital digital technology. However, many digital technology options have introductory plans that are cost-effective. For example, Xero’s Starter plan is priced low and specifically designed to help sole traders kickstart the financial management of their businesses.
How we can help
If you want to start using cloud accounting software to help you quickly and easily manage your business finances, we can help you to implement cloud-based Xero bookkeeping software. We are a Xero-certified partner.
We can also provide your business with cost-effective bookkeeping support services. We service a diverse range of clients in South Australia, Victoria and New South Wales.
Contact us today for a free, no-obligation consultation to find out how we can help your business!