One of the best features of cloud-based business software is that users get the benefit of a service that’s constantly improving. Unlike traditional licensing software users, cloud users will always have access to the best and newest technology available.
In addition, planning and setting aside cash needed for future technology and system upgrades should become much easier to predict and manage. As your business grows, you can upgrade to a package that best suits your needs.
To get the most out of your cloud-based software system however, integrations are key. They can help automate and simplify a wide range of administrative issues, all the while ensuring that all your data and accounts are integrated across the board.
So what does this mean for SMEs? As business moves online, we’ve seen SMEs grow at incredible rates previously unheard of prior to the internet becoming an integral part of our lives. However, sales is just one part of running a successful business. Backend alignment with your brand and customer-facing business is absolutely critical to success - and technology has been an influential driver to helping small businesses do this.
Find software that works for you
Cloud based software allows businesses the flexibility to choose the functions that they need at any given time. With subscription based software, companies can also end the subscription if they find alternatives that better suit their business processes. This puts business owners firmly in the drivers seat. After all, you know your business better than anybody.
As opposed to traditional licensing software operators, cloud business software providers have to ensure that the product integrates effectively with your internal processes, even as your business evolves. Unlike traditional licensing deals, choosing software for your business should be driven by your needs - as opposed to an expensive pre-determined package with functionality that you don’t need.
As businesses change - in scale, in customer base, or in sales channels, it’s integral that software providers keep up. As companies get bigger for instance, the relative complexity of their operations also increase exponentially. Industry or region specific functions, such as country or state-specific taxation must be factored into the capabilities of different software.
Cloud based software offer their customers an unexpected benefit - to be able to choose between distinct products that fit their current business plans without compromising future business plans. Find a product that fits now - as you scale up, it’s your software provider’s responsibility to grow with you or risk losing your business.
Innovation and the future of marketplaces
In 2014 Forbes chose Xero, the online accounting software provider, as the Most Innovative Growth Company in the World. One of Xero’s biggest selling points is their add-on marketplace, allowing existing users to integrate their existing data with hundreds of add-on business applications. This is a trend that’s likely to continue with other software providers.
Integrations allow business owners to pick and build their own comprehensive solution that streamlines backend operations. This is especially important for retail and wholesale businesses due to the heavy administrative demands. Studies have found that an astonishing 88% of all spreadsheets contain errors. For obvious reasons, this can have significant negative ramifications for your business.
For retailers and wholesalers, inventory management software and online accounting software should come hand in hand. Both of these processes are prone to human error, since the frequency of manual work is so high. Not only will automating this process save a lot of time, it also ensures that the backend and frontend of your business is always synchronised. With a holistic picture of all the transactions taking place, you can make better business decisions.
With integrations with Shopify, WooCommerce, Amazon, Xero, and many more, TradeGecko’s online ordering system will allow your wholesale customers the same impeccable online experience that they have come to expect. In addition, our iOS mobile sales app allows your sales staff access to TradeGecko data on-the-go – place orders, update customer details, product catalog all without internet connection.