Technology is the key to growth

Article by
Philip Martin
PMCA
September 2020

Technology has changed: now you're in control

6 minutes

There are more and more astonishing ways that small and medium-sized businesses can improve their performance by reducing time-consuming manual processes.

Face the challenge of embracing or updating new technology and reap rewards in the post-COVID economy.

Technology: so hard to keep up with!

Remember when you launched your first website?

Coders and ‘webmasters’ and designers and server managers … a room full of self-proclaimed experts. Back then, they were vital. They held the keys to get you driving on the ‘information superhighway’. They were alchemists.

Now? Not so much.

If you got into the web world early (like, pre-2000), you are probably doing ok. Older website generally rank better in searches. And if you’ve been shrewd enough to make changes, update your platforms, integrate your systems and ensure a modern-looking, responsive digital presence, pat yourself on the back and bask in your SEO results and sales figures.

For most of us, though, shifting a business online(even if you’re not a traditional online business) is a big challenge. And when you’ve finally launched that website, you think, well, job done!

Many SMEs have found it hard to justify ongoing spending on their websites. And if you run a fish and chip shop or a pharmacist or a newsagent, why invest in a website anyhow?

A year ago this was a good question. Since COVID-19 hit, the answer is obvious. Deliveroo and Uber Eats and couriers and online news and cyber lotteries take a big chunk of your margin.

Online purchases and food delivery aren’t going to disappear when the virus does. While the pandemic will go away, consumer behaviour is harder to shift.

Technology changes behaviour – fast

Will you go to a bookshop to buy a birthday present for your mum? Or will you order online (gift wrapped, of course), or maybe send her an Amazon voucher? Yep.

Want a garlic press? Want the latest Taylor Swift album? Need more ballpoint pens or printer ink? Are you going to the shops? It’s all changed.

Depending on your business’s size, age and industry, your exposure to technology might involve full-scale, integrated enterprise logistics, stock control, production, accounts, and customer databases, or it might just be Gmail, Word and Excel.

If you’re like most business operators, though, changing and improving underlying systems and processes is one of those annoying tasks that is easier ignored … but ignored at your peril.

Embrace new technology – it’s easier than ever

Here’s the thing: tech development isn’t just for expensive IT consultants anymore; and is isn’t just Zoom and HouseParty.

If you have any questions, feel free to get in touch. We’re happy to help

The material and contents provided in this publication are informative in nature only.  It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained. We are here to help, contact us today:

Philip Martin Chartered Accountant
Phone 1300 744 547 | Web pmca.com.au | Email philip@pmca.com.au
Level 9, 440 Collins Street, Melbourne, Vic 3000

There’s a new competitive landscape emerging for service businesses in the field of full-service processes – all the way from customer onboarding to invoicing and reconciliation.

Five years ago, it sounded like magic, but organisations such as Practice Ignition and GoProposal are just two early starters in this growing industry.

If you get bogged down sending proposals, setting up new customers in your CRM and your accounting software (which probably aren’t integrated), approving the work order, issuing and chasing invoices, you’re like most SMEs in Australia.

The smarter ones are taking time out and getting advice from knowledgeable advisors about streamlining these manual and repetitive operations. This is leaving the savvy business operators with more time to actually run their businesses. New clients and better service.

Of course, it doesn’t have to be a full suite of tech changes. Track expenses and invoices easier than ever with Xero or MYOB. Tradies have a choice of great apps to track jobs from quoting, through scheduling, to issuing on-the-spot invoices.

If business is slow right now, but you have confidence that it’ll spring back, take a chance. Invest now in the tech that’ll set you ahead of the pack.

You might emerge into a market with a smaller bunch of competitors. They may have more or less capital available than you. But who will be better placed to take advantage of this new on-demand environment?

Make YOU the future

Resist settling for the status-quo. Tech-based business tools are becoming easier to use and more useful.

There are probably tasks that you currently do manually that can be automated. There are automated tasks that can be integrated into related processes. And there are possibly entire processes that can be engineered to run without you needing to lift a finger. Or maybe just one finger to tap a screen.

Some quick wins are within easy reach, such as embracing cloud-based platforms, buying in functions ‘as-a-service’, improving data security and automating tasks.

This may seem like the crazy future, but it’s likely there are competitors in your industry already taking advantage of these services.

 

Find your business tech solution

At PMCA we’ve been advising businesses of all stripes about how to embrace technology. From sole traders and partnerships wanting to streamline invoicing all the way through to multi-site organisations that need to streamline inventory, cashflow, payroll, rental agreements and more.

Don’t get left behind.

We have years of practical, proven experience helping implement technological solutions, and a full knowledge of tax and business law on your side.

No matter what business you’re in, there are innovative and surprisingly simple ways to make your business life easier.

Ready to get on top of your tax and accounting?

Philip Martin can change the culture of your business to ensure independent financial strength.
Philip - Portrait Photo

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

If you haven’t already, your very next step is to talk to us at PMCA to make sure you’re getting the assistance you’re entitled to.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

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What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

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link me.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

link me.