Pen > Sword. Digitisation > Pen. The Modern Way Of Running A Business.

When it comes to being a business owner, you’re either old school and run it with pen, paper and logbooks, or you have switched to digital technologies where your business data is automated and looking back at you from behind a screen.

Let’s take a look at the logistics of how difficult that first scenario has become in 2020.

Imagine a retail store selling mattresses from three individual warehouses employing 30 staff in total. The business is run without any digital technologies to support processes and all orders are logged on paper. Stock is checked manually by looking out the back to see availability. If no stock is available, then each warehouse has to be called to check for inventory location and numbers. To be able to send out a purchase order via mail or email, the customers’ bank details, delivery address and order details are carefully logged on paper or into a spreadsheet.

Once the mattress is located, it’s packed for shipping while the remaining stock is counted and recorded manually. Estimated delivery time is booked and allocated to a driver. Following delivery completion, a notification is sent to the customer, drivers and the business owner recording the delivery status.

At the end of the day, you review completed work orders for any additional notes. Let’s say your staff booked 30 new deliveries for the following day, so you spend the rest of your evening writing down customer details. You consult a map or GPS as you plan out tomorrow’s optimal routes for your delivery team, strategically aiming to line up the fastest delivery for multiple customers.

Now, imagine you’re the business owner who’s embraced digitisation. In real-time, from your fingertips on your iPad or desktop, the entire process above involving your orders, payments, invoicing, logistics, inventory, warehouse and customer management is automatically updated and coordinated. You are saving countless hours and a considerable amount of cash.

You may think in 2020 most business owners would have converted to the latter. In reality, fewer than half of Australia’s retail and field service companies use any sort of digital technology to simplify their business management.

The Stats Behind The Digital Shift

For every business that embraces digitisation, each staff member on average contributes to a 60% increase in their revenue. This uplift in profits comes down to the implementation of unified commerce software that groups business data instantly and the availability of integrating these analytics in real-time to an eCommerce site.

Modernised business management systems such as Integrated POS systems, financially integrated payment and accounting solutions and inventory management software can all integrate to your financial accounts and eCommerce site in real-time.

According to a recent study, 2019 was the first year that there were more small businesses with high or advanced levels of digital management compared to those with basic or intermediate levels of engagement.

It means if you’re still using these outdated, manual data entry tactics you might be falling behind as most of your competitors have already implemented digital processes.

One major hurdle preventing 31 per cent of small businesses from making the switch and turning to digitisation is they believe it will be too expensive to set up and maintain.

In reality, not utilising this and sticking with traditional manual data entry for your business processes can cost you more money over time. There are even Australian states and territories currently providing grants to regional businesses who digitise their systems.

In reality, not utilising this and sticking with traditional manual data entry for your business processes can cost you more money over time. There are even Australian states and territories currently providing grants to regional businesses who digitise their systems.

The Queensland Government is now offering up to $10,000 in grants for small to medium-sized QLD-based businesses to help them implement digital technologies.

These funds could mean your business effectively gets FREE software subscription for a year, a POS terminal and all of your hardware provided and installed with Spenda.

Are you looking to embrace digital technologies or build an eCommerce site quickly? Contact Spenda to explore digitisation options for your business.

For QLD-based businesses wanting to know the location and criteria required to qualify for funding from the QLD Government, click here.