Why no small business should be without expense management software7 August, 2018 1:01 pm
Just as surely as night follows day, there are two truths about running a small business that those yet to embark on the journey will discover now, by reading this blog, or within days of launching a company, if they choose not to read it.
Thought running a successful business would be about making money from a hobby? Thought it was going to be easy? That’s the first mistake.
Our first truth is that running a business is tough. It’s going to take more hours and more dedication than you ever thought possible and demand more reserves of stamina than you knew you had.
Our second truth is that no matter how good you are as the core skill of your chosen business, be it floristry, forestry, taxis or taxidermy, you’ll have to learn a lot more skills. You’ll need to know about bookkeeping; about dealing with customers and suppliers, about marketing, and about IT.
You can buy in such skills, but of course that needs money, and that’s something your baby business might not yet have.
So, what’s the answer? Surround yourself with the right technology, that’s what. The business world bristles with apps that offer great advantages to any small organisation that operates on a shoestring when it comes to available time.
The benefits of ExpenseOnDemand expense management software
At ExpenseOnDemand we’re experts in small business expense management software, having been the first company to offer an app designed exclusively for the sole trader.
If you were to do a cost benefit analysis (don’t bother, you’re too busy already, so here’s the executive summary) you’d find that for the money you invest in our product your organisation will win a secure financial advantage. That’s because (so long as you’re diligent in recording your spending), our expense management software will help you keep an accurate record of it in the shortest possible time. At a glance, the benefits look like this:
- Lives on your mobile, so it’s always with you
- Photographs receipts, so they never get lost
- Offers lots of features, but buy only the ones you need
- Doesn’t tie you in long term; uses a rolling contract
- Saves you time (because you can’t earn more!)
- Files spending in pre-set categories, or pick your own
- Works in multiple currencies
- Records mileage accurately
- Exports data to your accountant, or your accounts package, or Excel
- Works as hard as you do
- Doesn’t make mistakes
- Doesn’t need meal breaks
- Never calls in sick
- Doesn’t complain about overwork
What sort of organisation are you?
You’ll notice we started this blog talking about ‘business’, and then switched to ‘organisation’. That was quite deliberate, because although our expense management software was originally designed for business, it is sufficiently versatile to work for charities, clubs, or sports teams – in fact any organisation you can think of that has expenses and needs to record them as quickly and accurately as possible.
So, let’s go back to those first two truths. You’ll need stamina, and you’ll need resilience. But with effective and accurate software on your team, you’ll need just a little less of both. And what’s more, you’ll always know exactly how your organisation is performing, and that’s sure to help you sleep better at night.