I’ve always been fascinated by the tech evolution back in the 80's with Apple vs. IBM, and ultimately, Apple vs. Microsoft. Obviously, none of us saw the COVID-19 pandemic coming, which leads me to one of the key themes that we, at Current Accounting…focus on: Agility. During periods of economic crisis, it is the companies who have the ability to pivot at any given point and go in a completely new direction, who not only survive, but tend to thrive.
That is one reason why our business is set up to be 100% digital, and as a major part of our service, we help our clients revamp their systems to be the same. In 2010, “online bill pay” and several other automation tactics weren’t nearly as mainstream as they are now. But while many of the other accounting firms are just beginning to catch up, I believe we have already mastered it and are well beyond that and focusing on “what’s next?”.
Forward-Thinking Businesses Can Successfully Weather Any Storm
When the Governor ordered a shut-down of non essential businesses, many companies were put in financial turmoil. Cash-only operations or brick and mortar stores that rely heavily on foot-traffic were drawn to a screeching halt. We don’t need to explain the impact of going from a healthy cash flow to literally $0 in daily sales. However, rather than advising our clients to close-up-shop, we guided them through…before, during, and after the SBA relief. Many of those customers have come out of the reopening enjoying record-breaking sales.
The reality is our landscape has changed forever. For those who saw this as an opportunity rather than a moment of despair, Covid-19 was nothing more than a nasty storm that needed to be weathered – and navigating a storm like this one only happens when your business is strategically positioned to be agile at any given moment.
The Benefits of Digital Cloud Accounting in Mount Pleasant, SC
Often, accounting for small businesses is treated as nothing more than “keeping books,” like balancing your checkbook. But there are so many ways that having a tech-savvy system can enhance your overall profit margin and daily operations. By making information readily available, when you need it, you can use facts and figures to run your business more successfully by continually auditing everything from staffing to ordering.
Also, by moving your accounting 100% digital, you reduce human error, the need to hire someone specifically for things like invoicing and paying, and you can look at financial reports that help you to better plan for the future. Digital accounting also gives you a forum to sell your product or goods directly from your webpage. That gives your client base more flexibility to follow through either to purchase or to contact you.
Staying Ahead of the Curve Starts by Taking Your Accounting Digital
The one thing that entrepreneurs all have in common is that they see a niche in the market ahead of the curve, and they find innovative ways to push the status quo. And another thing that successful ones have in common is that they understand that to survive, they have to learn to adapt quickly and continually to find more effective and efficient ways to run their business for expansion. In the process, it is important to not underestimate the power of what having financial data available at your fingertips can do to take your business to the next level.
Ensuring that you always have current and relative data starts by taking your accounting digital. At Current Accounting, we know that the only way to stay in the game is to play with the best tools available. And taking your business accounting digital is just one of the ways that we help you to not only stay ahead of the competition, but also soar wildly ahead.
Contact us today to discuss all the ways that we can bring you into the post COVID-era and beyond.