Vikas Panchal, Business Head at Tally Solutions in the Middle East provides insights for SMEs on how to grow their business by leveraging technology
We live in an era where technology dominates. Its life-changing influence and impacts are widespread, entering the realm not only of our everyday personal lives but also of businesses and similar ventures. In the business world, technology holds a significant importance that has the power to make or break an enterprise, and this is especially true for small and mid-size firms.
As an entrepreneur, how then can you leverage technology to grow your business? There are many ways to do this. You can, for one, capitalise on digital tools, to strengthen your relations with your customers, who are at the core of your expansion. Second, you can harness the full potential of available technological innovations to improve the delivery of your products and services in a more cost-efficient and faster manner. The third one is to incorporate technology to streamline your business procedures, including accounting, inventory management, and compliance, thus raising the overall efficiency and productivity of your business.
Automated business software solutions are among the most helpful and practical modern tools to run business in an increasingly technological dependent world. Some of these automated solutions are equipped with features and reports designed to streamline and organise key business functions such as accounting and invoicing, cash flow management and projection, financial book and record management, stock management and compliance among others.
The advanced business management software have the capability to enhance daily business operations by minimising human error, smoothening transaction entry, batter management of inventory, coming up with analysis-based reports, and much more. They can further be optimized to gain relevant insights and key analyses to assist you in making critical business decisions with great ease. The use of technology for daily business operations ensures the business owner gets enough and more time to focus on business expansion and other mission-critical activities and requirements. It allows you, a business owner, to optimise the power of data for business development.
It is also imperative that the software does not constrain you and obligate you to do your business in a particular way. Each business is different and have varied requirements, thus a software needs to be flexible enough to accommodate those irregular but important business needs. The software needs to be extremely reliable as a small discrepancy can prove to be detrimental for a business. Another key aspect that needs to be considered while adopting automation for business operations in the ease or simplicity of a software. Most business owners are apprehensive of using technology because of the complexities it might bring with it. Thus, a software needs to be simple enough to learn and adapt to the ever-evolving needs of the business.
These non-functional requirements are also extremely vital in order to equip yourself with technology which can prove to be extremely beneficial in raising the overall business growth. These parameters make you confident about your choice, ensuring that the software is packed with contemporary and unique features developed to help better manage business operations and enhance business productivity.
In light of the increasing demand of automated business management software, Tally Solutions will showcase technology crafted for SMEs growth at the upcoming 39th GITEX Technology Week. Representatives from Tally and its partner ecosystem will be present to address queries from visitors, interact with executives, business leaders and decision makers.
This article is written by Vikas Panchal, Business Head at Tally Solutions in the Middle East, a leading international accounting and compliance software provider.