Spenda 17 December - 4 min read
With the year coming to an end, you’ve most likely started thinking about your business goals for 2022. No matter what these goals are, having the right systems in place to realise operational efficiencies, get paid faster and strengthen your cash flow will set you up for success next year. Keep reading to learn how to get your business ready for 2022.
Invest in the right systems
While having a strong business strategy is important, without the right systems and processes, you won’t have the efficient day-to-day management you need to achieve your goals. For many businesses, the last two years have been a time of rapid change.
According to McKinsey, company executives reported moving 20 to 25 times faster than they expected on changes such as addressing supply chain issues and introducing advanced technologies to improve operations. If your business hasn’t done so already, investing in the right systems and tools to help you thrive will play an important role in future growth.
Business tools that will help you grow in 2022
For any business, there are applications that make managing systems and processes easier. Not only does better systems management result in operational efficiencies, but it has other positive impacts such as stronger cash flow.
Below, is a handy checklist that outlines key areas that your business can transform to help you work smarter and grow faster.
Get paid faster and boost your cash flow.
Update your payment systems to enable faster payments, while delivering a frictionless experience to your customers.
Solutions such as Spenda’s payments and lending services will help you pay your expenses and accelerate growth.
Simplify and automate your procurement process.
Place orders on the go, get low stock reminders and always have the right amount of stock on hand to meet customer demand.
Digitise your procurement process and enjoy faster and more accurate ordering. Enjoy the peace of mind that comes with an automated data-driven system that knows what your business needs based on past sales activity.
Spenda’s “suggest what I need to buy” feature will help you save time by notifying you when your pre-set min/max settings are reached, meaning you’ll always have enough of the right amount of stock on-hand to meet consumer demand.
Optimise your warehouses and gain better visibility across multiple warehouses in real-time.
Implement modern systems that automatically update your inventory across your business locations in real-time.
With a smart warehouse management system, you can streamline how your business manages and moves inventory in real-time. With the right tools in place, your data will be automatically updated every time a sale, refund or stock transfer occurs.
Deliver a better pick, pack and ship structure.
Collaborate on orders with customers and improve the way your business tracks sales, stock and fulfilment.
Benefit from one central order and price management hub where you can better track sales, payments, stock and fulfilment. Ensure all processes and people in-between, including your team members and customers, are kept informed and up-to-date at each step of the order fulfilment and delivery process.
Sell better online, reach more customers and deliver a smooth customer experience.
Grow your business by giving your customers a more convenient way to shop, and integrate smarter and frictionless payments that improve the checkout experience.
Whether you have well-established online channels, or your business is new to eCommerce, choosing the right system will set you up for success. Key things you should consider when you’re setting up or improving your eCommerce channels include:
Make a sale anytime, from anywhere.
Process sales faster, take payments instantly, make it easy for employees to find what they need, and benefit from seamless financial integration and more accurate reporting.
Process sales faster, make it easy for employees to find what they need and integrate your point-of-sale (POS) system with your accounting and ERP software.
Further, with in-built innovative features, like Spenda’s virtual payment terminal and coupled with a Pay Invoice By Link feature, you’ll be able to provide your customers with payment flexibility and have the mobility to take payments anywhere, anytime. Better still, your business can take payments even if your EFTPOS terminal isn’t working.
Streamline your bookings.
Automate how your team and customers book and change appointments, and streamline the process from service delivery to payment.
Reduce administrative pain points and improve your business’s cash flow. With a cloud-based service management solution, you can seamlessly book, update and track jobs, and instantly process payments when a job is completed.
Grow your business in 2022 with Spenda
Spenda helps businesses to adapt and upgrade their operations quickly, get paid faster and boost cash flow. Whether you’re looking to provide more payment options, reduce checkout friction, or grow your business with stronger eCommerce channels, we’ll work with you to build a tech stack that will help you achieve your unique goals.
Keen to see Spenda in action? Book a free demo call with one of our payment experts today.
Ensuring your cash flow is strong can be a challenge for any business, especially when you don’t have integrated systems that give you a real-time view of your finances. Spenda’s seamless integration for MYOB provides real-time transaction updates, reduces manual data entry burdens, and delivers more efficient reconciliation and reporting processes, so you can keep track of your business’s finances anywhere, anytime.
Automated solutions deliver a range of efficiencies to businesses. Whether your business is looking to make financial reporting faster, eliminate tedious procurement processes, or make payments faster and easier, technology that automates business workflows is a must-have for every business. In this post, you will learn how to unlock business efficiencies with automation.
Late payments are one of the most difficult things to deal with as a business owner. Not only is it an administrative burden to chase overdue invoices, but the resulting cash flow challenges can impact your business’s stability.
© 2022 Spenda. All rights reserved