Small-to-medium enterprises (or SMEs) lack the funds to invest in the latest technologies in comparison to large enterprises. However, cloud technology has provided an opportunity for SMEs to stay efficient with affordable cloud solutions. There’s no denying its benefits either. Here are a few reasons why cloud solutions offer a viable solution for running your SME business:
Handling the droves of data you receive from customer transactions and staying compliant with financial regulations or data security rules can be a pain point if you’re updating your technology from outdated software or infrastructures. This update process eats up time you could be using to focus on your sales or business strategies. However, you can harness the power of cloud solutions to keep your SME efficient and productive with little time to transition. Cloud solutions, such as Xero cloud accounting, can easily integrate with existing business software. This includes payment technology that supports recurring payments, direct debit payments, and other small business payment solutions.
An increase in data breaches in recent years is making customers antsy about who they share their information with, either online or in-person. However, you can build trust as a reputable authority that keeps data safe with cloud solutions. Cloud accounting technology allows you to reduce the need for a paper trail so that your customers’ and your own data isn’t hanging around for anyone’s eyes to see. You can also take advantage of cloud solutions embedded security technology to ensure both you and your customers’ information is safe.
3. Get Paid Faster
Antiquated business payment solutions can not only frustrate customers, but can also slow down the speed at which you receive your payments. These old payment systems may also rely on information that may be outdated by the time it gets to you. Cloud based solutions however make it easy to expedite the process of getting paid by offering payments in real-time. For example, you can use innovative payment solutions. An example of this is in-video payments. You can prompt an opportunity for immediate payment while customers watch a product or service demonstration video. You can then display these videos on social media platforms.
Whether you’re needing to get paid fast and on time or having a service that easily integrates with your existing software. Cloud solutions offer SMEs a slew of benefits so you can move forward and stay competitive. When using cloud solutions you can stay focused on growing your business’ bottom line profits and achieving its goals.