12th March 2020
Using the power of business software to achieve business success
This is Pillar 7 of the a4e Business Financial Mastery Educational Campaign and today we talk about business software. Thanks to Bridget Du Toit, Head of Services at EasyBiz Technologies – the authorised Intuit QuickBooks local partner in South Africa – for her contribution.
QuickBooks has over five point six million customers globally and we will be
focusing on QuickBooks Online. They have had a growth in subscribers of 256% a year, largely due to unemployment and the mushrooming of many entrepreneurs who need an accounting package that helps them properly manage the finances of their business.
There’s an old saying, “Instead of just giving people a fish, teach them how to fish” and that’s exactly what QuickBooks try to do.
Bridget says “We recently held an event where we tried to educate entrepreneurs and take them on a journey from the start of entrepreneurship to finish. It’s all very well that we sell you an accounting package that’s online and it helps you with your business, but you’ve got to still be in business in five years’ time for us all to have succeeded. We also try to get people to take the plunge and actually start a business – why not? If you’re not going to get employed in a business, start your own”.
What makes a good Entrepreneur?
They need to be nimble and quick, sharp and agile – ready to spot opportunities. They need to make quick decisions. We asked entrepreneurs if they use the right business software tools to set themselves up for success and only 33% of the applicants to the campaign said they do. So there’s an awesome scope for QuickBooks in the South African market.
Bridget says “Probably the other 70% are using Excel. They’ll start doing a little spreadsheet on the side in Excel and that’s how they’ll do their books. It’s a small investment of only a couple of hundred rand for QuickBooks Online a month to get proper management packs out of your accounting software. You get the right graphs that tell you the right story; data to tell you whether your marketing is working; whether your staff are being effective and efficient; is your stock under control? Do you need to run specials like Black Friday deals – or create other opportunities for your product to sell more? Data is king and allows entrepreneurs to make good business decisions.
Security and time – valuable ‘must haves’
Possibly the biggest problem with Excel is an entrepreneur losing their Excel and their computer crashing” says Bridget. “They don’t have the history and it brings their business to a grinding halt. With QuickBooks Online everything is backed up and you’re never going to suffer from the effects of a crash. All you do is go to your computer or phone and login from there and you can carry on doing business.
With technology these days if you are not online for your accounting you’ve missed the plot. Now you just sign in wherever you are – and it frees up so much of your time. Our research shows it actually gives you back 9 valuable hours a week by doing your books through QuickBooks Online – time to be working ‘on’ your business and not ‘in’ it!”
Get smart – get automated
98% of entrepreneurs are struggling to grow their businesses in the current economy so it’s all about being smart – and that’s all about using business automation, because you can leverage off that. Bridget adds: “You’ve got to constantly evolve. One of the biggest questions each entrepreneur should be asking about the business every month is: “What can I do better?”
One great solution – Automate as much as possible!”
The best place to get hold of QuickBooks is www.easybiztech.co.za