Businesses not embracing cloud-based software are limiting their growth by relying on expensive and inflexible alternatives, claims one industry insider.
Particularly smaller businesses are more inclined to cling to things they can see and touch rather than digital alternatives, suggests Murray Warner, a director at Concur. However, this can ultimately prove financially damaging for the business.
“Not being able to automate some of the processes they have really impedes their ability to grow,” Murray says on the My Business Podcast.
“If you’re trying to go from a 10-person company to a 50-person company, how do you grow without having to hire more people to do very manual tasks, and that’s where systems come into place.”
According to Murray, cloud-based software and applications have revolutionised many common business processes, making those processes such as expenses, payments and payroll faster, cheaper and more efficient.
“You don’t have to install anything. It’s easy to buy. It’s easy to get up and running, and you can use it quite inexpensively to solve a lot of problems that really has only been open to very large corporations up until the last five or six years.”
This, says Murray, compares with years gone by where software packages were the norm, which were more expensive to purchase, required ongoing maintenance and did not effectively evolve with a growing business.
“It’s moved from taking a piece of software that you have to install and update and pay maintenance on, so it’s a product that you bought, something you bought and it’s evolved from that into being a service,” he explains.
“So if the service is no good, just like an app on your phone, you turn it off and you find a different one.”
Murray adds: “The companies that are really good at providing business apps and solutions to SMEs are really focusing on what that service element looks like and [determining] is this actually driving a positive result for your small business?”
Check out more insights from Murray on the efficiencies of cloud-based software applications and ways to simplify the expenses process in your business on the My Business Podcast below:
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Too many SMEs are making this mistake
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Taking digitisation out of the ‘too hard’ basket for SMEs
By Jason Brouwers