Four tools to help manage your business’ finances

Four tools to help manage your business’ finances

We all have a part to play in helping preserve the environment, and even the smallest of changes can help make a marked difference over time.

Business priorities are changing left, right and centre.

With sinking currencies and rising inflation adding to the cost-of-living crisis across Europe, you'll be battling extra costs – all while keeping up with daily business demands, as well as ever-changing customer expectations. So, it’s no surprise if you’re looking for new ways to protect your business amidst the uncertainty.

Remaining agile is key, adopting a flexible mindset will help you naturally tackle unexpected costs, but there are tools out there that can help you along the way too. From having constant budget visibility to collecting vital information for quick decision-making, there are a few ways to ease the burden of the cost of living crisis.

To give you a helping hand when it comes to choosing the right support tech, we’ve looked at a few platforms that can save you both time and headaches.

Xero

Xero is perfectly placed to help you manage business finances – anytime, anywhere.

It’s an intuitive cloud-based budgeting tool and the go-to for businesses looking to create realistic budgets – and stick to them. Xero can help you manage your expenses, inventory, invoices, bookkeeping, bank reconciliation, and so much more. And having access to all this information within one, easy-to-use platform, especially as energy and food prices continue to soar, will only help you manage money better. Ultimately, Xero will help you become completely aware of your current financial situation, so you can make the most of your money.

What’s more, Xero is an affordable option in comparison to its competitors, with a standard plan price of $22 per month . So, it’s a great, inexpensive choice for growing businesses and offers the flexibility to cancel with one month’s notice.

Oasys

Next up is Oasys – a payroll software that makes it quick and easy to manage and pay employee wages. Hosting a wide range of HR solutions, from recruitment to onboarding; payroll to benefits; this platform won’t only help you ensure accurate payments, it’ll ensure regulatory compliance too.

By adopting an agile technology, such as Oasys, you’ll be ready and waiting to quickly review accounts and support your employees through any payment changes.

But it’s worth noting that Oasys, like many payroll-management platforms, offers pricing against a tiered structure. So, for full functionality, you’ll need to pay additional costs.

Certify

Do you find yourself using outdated accounting methods? Whether that’s collecting paper receipts or printing expenses, managing expenses manually can lead to entry mistakes and inconsistencies down the line. And tracking a constant stream of payments manually isn’t only risky, it’s time-consuming and mundane too.

Cue Certify – a cloud-based platform that automates the expense process and provides a clear picture of business finances. This programme has the power to help you seamlessly process every small but significant payment, while offering a real-time view of your in-goings and outgoings. And, when used effectively, it will give you the confidence and control to manage unforeseen payments.

Starting at just $8 per user, per month for businesses with 1-25 employees, Certify offers excellent features at a manageable price. And you can always cancel within 30 days’ notice if it doesn’t work out.

Zoho Inventory

Finally, if you’re looking for inventory-management software, look no further than Zoho Inventory. With solutions to monitor warehouse management, analytics, reporting, and end-to-end inventory tracking, this platform will help you deliver an excellent customer experience, every time. Plus, by integrating with vendors, such as Spotify and Amazon, it’ll help you fulfil multi-channel selling too.

Also, by ensuring seamless inventory management, and advertising across multiple channels, you’ll give customers more opportunities to interact with your business – undoubtedly leading to increased sales. So, Zoho Inventory won’t only help you get organised, it could secure new sales too.

Even better, you can try Zoho Inventory before you buy. Sign up for a 14-day free trial (cancellable at any time) to see if it’s right for you.

Choosing the right tech for you

Every business is different, so there isn’t a one-size-fits-all approach to choosing technology. Our advice? Explore your options and crunch the numbers to see if investing in tech support could streamline your business, provide new sales opportunities, and save costs in the future.

Explore how Vodafone's range of digital solutions can help you manage your business' finances at the link below.