E-invoicing can help improve your cash flow by helping you get paid sooner for the goods and services you sell. In business, there’s a well-known saying that cash flow is king. E-invoicing to help facilitate faster payments “Take the time to see how you can use digital technology to organise your small business more effectively and you’ll see efficiency and productivity gains over time,” Boyd says. He points to Xero research, From little things big things grow: How digital connectivity is helping Australian small businesses thrive, which showed that the small businesses that increased their ICT spending the most grew revenue up to three times faster than those that spent the least. Make it a priority in your enterprise and you’ll reap the benefits too, Boyd says. Others have begun utilising the Xero App Store, which offers an ecosystem of specialist apps to manage their invoicing, online payments, inventory, quoting, rostering and workforce needs. The accelerated adoption of specialised applications we’ve seen over the past 18 months is set to continue in 2022, according to Boyd, and small businesses that don’t get on board risk missing out on countless opportunities.Īmong the apps savvy business owners are adopting are ecommerce platforms like Shopify, BigCommerce and Stripe, which allow them to sell online and offer ‘click and collect’ service to customers. So what are the major Information, Communication and Technology (ICT) trends and developments for 2022 that could help your small business operate and grow – or risk it falling behind if you don’t get on board? Ian Boyd, Xero’s Director of Partnerships, Asia Pacific, shares his top three insights on what to expect. We’ve seen family-owned grocery stores embrace online ordering and delivery, gyms offer remote classes and professional service providers swap face-to-face consultations for Zoom meetings. COVID has driven a wave of investment in information technology over the past 18 months, as businesses large and small have raced to ensure they can continue to trade.
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