Posted on October 15, 2020
Francisco González, chairman of Spain’s BBVA, says “If you don’t master technology you won’t survive.” This is true for many specialists working in business, but if you are a financial manager or entrepreneur and understand that your company’s finances are the most critical part of your business then you should put this word in a visible place so that you can see it anytime anywhere in your office. Be sure that technological changes will disrupt your financial management and your understanding of finances and if you don’t use them or use them not correctly you will definitely have problems. Even if you are already using FinTech, you must always be aware of new changes and developments to be more agile & responsive to industry changes and competitive in your market.
As there are many modern financial systems and tools choosing among them is becoming more and more difficult. We hope that this article can be some help for you to know about best financial tools and make a right decision about choosing one. Let’s see the top 5 new technological “helpers”.
Another efficient and innovative way that could help you to improve your financial performance is cloud accounting. Cloud accounting offers more than just an approved accounting software: it provides solutions that will completely change the way you run your financial operations. There are a great variety of cloud-based accounting tools from which you can choose the one that more fits your business needs.
If you are a small business owner and want to have an access to your financial data anywhere, anytime and on any device then using Xero is the perfect decision for you. You will easily see and manage your revenues, expenditures, cash flow or bank transactions. Moreover, you can customize the program to fit your specific business needs.
QuickBooks is another cloud-based accounting software with electronic payment functions, online banking, efficient cash register, sales and customer information management features.
For managing small business accounting WaveApps is a great decision. It is similar to QuickBooks Online, but this one is free. With this software you can easily view all your transactions, invoices, bills, approve payrolls, etc.
But if you need more advanced accounting platform then you can choose Sage Intacct and even make it more powerful by adding additional modules such as revenue recognition and project accounting.
It doesn’t matter you have a small, medium or big company you should use accounting software for faster and precise accounting, time and money saving. In our opinion, the easiest one is FreshBooks which offers invoice-to-payment tools, including direct payment gateways, billing process automation. It is more affordable than other systems, besides you can sign up for free 30-day trial and discover its features and convenience for your company.
If you want to easily automate bank feeds, or do payment reconciliation then you should consider using Zoho books which is a really good product to enhance your productivity.
Another important and useful system for managing your customer relationship is NetSuite ERP which can be used for automating your marketing, sales and customer support.
When you are trying to understand your financial performance and identify the key factors for development it is useful to create and monitor dashboards. For facilitating this process you can use Kripfolio which is an online platform that enables you more easily create real-time business dashboards.
“Klipfolio keeps our whole team on the same page. With all of our key metrics at our fingertips, it helps our team make smarter data-driven business decisions.”
– LP Maurice, CEO, and Co-founder at Busbu
Modern financial terminal YCharts helps you effectively analyze the information in a business word and be aware of statistical facts, opinions, and studies. This cloud-based investment platform shows you updated financial and economic data set and gives tools such as charting applications, stock screening, Excel Add-in, real-time news feeds and alerts.
“This is one of the most impressive applications I’ve seen in over 25 years in the business”.
Mike Patton, Integrity Wealth Management
This is the best tools if you want to fasten your researches, analyzes, and monitoring of financial markets. With this tool, you can easily get information about market prices, other financial data or receive breaking alerts about any company, currency or commodity.
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