Before I sat down to update this introduction to the 3rd edition of Xero For Dummies, I was providing a remote support session to a juice bar in Vancouver. By embracing technology, a small juice bar can access expert assistance from the other side of the world. Equally, I can view a Vancouver juice bar’s real-time data and work through its cash flow management strategies while sitting at my desk (with Charlie the dog at my feet) in Brisbane. This scenario illustrates the global opportunity that presents itself to small businesses that adopt cloud technology: Businesses can both access global help and grow their businesses globally.
Businesses can use cloud technology to produce accurate management (internally focused) and financial (externally focused) records with minimal effort. They no longer need to endure the laborious effort required to produce basic and unhelpful reports — reports that probably don’t reflect what’s actually happening in the business. You don’t need to be a big business to tap into big data!
Utilising technology and expert advice, organisations can streamline their business operations, finding ways to identify and analyse their key financial and non-financial drivers. With flexible access to timely and accurate information from within, and the potential to use external comparative data, businesses can use these collective insights to make informed decisions fast.
To stay ahead of the competition and capture the benefits of technology-based opportunities, ...