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You go into business because you have a burning desire to change the status quo. To solve a massive problem than has personal meaning to you. Or to follow your heart and live your passion. To serve others. To create an asset of value for you and your family. Whatever your reason – it was never the hours of administrative tasks that currently suck you in and keep you away from doing what you do best. And doing too many of those long hours over many years could just be enough to make you forget why you started in the first place.
What a blessing to live in the time we do! Cloud technology is revolutionising the way entrepreneurs run their companies. Operations, finance, people management, stock control and many other functions are being simplified with clever cloud tools. Finding and investing in the right cloud tech stack can completely change the way you spend your time and energy in the business.
Smart CRM and automated marketing tools help you reach more leads. Digital service level agreements and instant on-boarding tools help your sales efforts pay off faster. Automated invoices, personalised payment reminders, debit orders and smart forecasting tools help to solve cash flow. Clever inventory tools make sure your sales are profitable, margins strong and stock orders accurate. Every function of business can be simplified by plugging in the right cloud software.
In South Africa, the adoption of cloud tools like Xero and its app ecosystem is picking up speed as the word spreads. Entrepreneurs can now build their companies on powerful cloud infrastructure to help them scale faster and run more profitably. Yet only about 4% of our more than 1.8 million SMEs have embraced cloud technology.
A key takeaway from Xerocon London, where our board spent a few days connecting with the global leaders in cloud tools for entrepreneurs, was the impact that these tools can have on the success of small and mid-sized companies. Their research shows that digitally enabled businesses grow four times faster and create new jobs three times more often! In a country desperate for growth and employment opportunities this could make a massive impact!
Automation is not taking the human part out of business. It is simplifying manual tasks to make business more human! So go out there and learn, learn, learn. The ground is moving faster than ever before. Entrepreneurs who embrace the cloud will be able to realise their vision faster than at any time in history. Your perfect cloud tech stack is out there to help you in your mission to change the world.
Louw Barnardt CA(SA) is the co-founder of CFO and Cloud Accounting company Outsourced CFO. Their team of finance and technology professionals help entrepreneurs to rethink, automate and scale their companies using cloud technology.
