Small Businesses Transition to Digital Economy

Small Business Digitization

The recent pandemic has forced many businesses to think about digital solutions that can keep them afloat. Since, many have been forced to reduce physical interactions, shorten operating hours, or to completely close to follow specific guidelines. Therefore, it is now the best time to discover practical digital solutions to make this transition as smooth as possible.

In an effort to go virtual and make the transition to a digital economy, big corporations can afford the high cost of complex systems implementations. Moreover, they can easily bear the cost and time it takes for customization and debugging.

In contrast, small businesses might find themselves  struggling to set aside a sizable budget and to free up cash to join the digitization movement.

Luckily, in this world of plentiful options, there are systems and software that are affordable, can satisfy your needs and don’t break the bank.

Firstly, we start the list from business planning tools. After that, we move on to less complicated but more time consuming tasks such as accounting and expense reporting.

Let’s take a look:

Business Planning and Budgeting

1- Float App

Being awarded top 20 budgeting software in 2020. Float’s simple platform is a great option to take care of your budgeting and forecasting needs.

2- OnPlan

Besides offering budgeting and forecasting solutions, OnPlan also offers asset management solutions.

3- Centage Planning Maestro

Centage delivers a level of sophisticated financial intelligence typically only enjoyed by large enterprises but at a price point accessible for small and medium sized businesses.

4- Adaptive Planning

Adaptive Planning by Workday has many great features to choose from, including financial reporting, budgeting and forecasting. 

5- Anaplan

If you have a more complex business structure with revenues in excess of $1M, then this platform is a great option to take care of your business strategic directions and all its planning needs.

KPI Reporting, Dashboards & Data Visualization

Performance management

1- Klipfolio

As being awarded top 20 software in 2020, it’s hard to say no to Klipfolio. Unlike traditional BI tools, Klipfolio is a cloud-based data analytics platform that enables users to connect to any data source, create beautiful data visualizations and easily share them when and where needed. 

2- Qlik Sense

Qlik Sense is a business intelligence and visual analytics platform that supports a range of analytics and visualizes many aspects of your business in one place.

3- Tableau

This platform helps businesses transform data into actionable insights that make an impact. Also, it easily connects to data stored anywhere, in any format and quickly perform ad hoc analyses. 

Cloud Accounting Software

As you know, accounting and back office tasks and processes can be time really consuming. Hence, they present the best opportunity to get automated.

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1- QuickBooks

Simply, from organizing your receipts and managing your bills to running project profitability reports, QuickBooks has you covered. Also, at the time of writing this blog, they are offering a 50% discount.

2- FreshBooks

If you are a freelancer or a service provider this can be a simple but good option to track expenses and revenue. Also, at the time of writing this blog, they are offering a 60% discount.

3- Xero

Choosing between Xero and QuickBooks has always been a tough decision. But if you are a start-up and loving the minimalist and modern look, this is a great option to go with.

4- Microsoft Dynamics

If you are a big fan of Microsoft products, you will appreciate what Microsoft Dynamics offers. They can cover a broad area from CRM solutions to finance modules.

Expense Reporting & Payment Processing 

1- Expensify

From tracking, submitting, collecting and connecting with your accounting system, and from as little as $4.99, Expensify has you covered. 

2- Hubdoc

Going paperless can sometimes be a daunting thought. But with Hubdoc, you can centralize your receipts and integrate with your accounting software to 100% accomplish your record keeping.

3- Plooto

Managing your accounts payable and bill payments can be as easy as connecting your bank account. Also, it automates your approvals process.

4- Bill.com

Finally, with cash management and duplicate payment alerts, bill.com offers a more powerful vendor payment system. 

In summary, with all the information available, we understand transitioning your business to cloud-based solutions can be overwhelming. 

 


Our mission is to help small to medium sized businesses get equipped with the tools of the future


Crunch TimeZ is here to support your transition every step of the way. Our promise to make this process as effortless and headache free as possible while saving you time and money.

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