From little things big things grow. I wanted to share some of the best pieces of a report released by Xero last month which reports on how digital connectivity is helping small businesses thrive.
Business owners often work long hours and take fewer holidays because of the high number of manual, paper based tasks they need to perform.
A number of businesses complete business activity statements (BAS) on paper according to the ATO despite quicker processing times from lodging electronically as well as automation of the process.
A major change in activity for SMEs has been the rise of cloud-based applications, or apps, which have enabled SMEs to improve their performance. Cloud-based apps store their software and customer data on secure, enterprise-grade remote servers instead of on a business’s premises. This gives businesses the freedom to access their information, updated in real time, regardless of whether they log on from home, work or via their phone. Perhaps most importantly, apps are providing large-enterprise technology such as machine learning to SMEs, and letting small businesses automate microprocesses.
A growing area of business digital connectivity is app adoption. Business apps are increasingly available to download from websites and via app marketplaces, such as the Apple App Store, Xero App Marketplace, Google’s G-Suite Marketplace and Salesforce AppExchange. Apps let SMEs automate a range of manual, often paper-based business processes.
Below are a few key graphs from the report.
Contact us today to see how we can help you to increase your digital connectivity and to streamline your business processes.
Founder & Director
Two Sides Accounting
02 9030 0269