Innovation & Technology – taking the market forward

What the financial sector has achieved in the last 20 years has been extraordinary and it feels like we have hit our peak of efficiency as business owners, advisors and planners. It’s funny to think that 20 years ago, the community would have had the same thought. As time passes it’s been the businesses that have proven they can adapt and innovate through the newly available technology that have been the most successful.

As the economy shifts away from manual work and towards cognitive work with machinery taking over much of the physical labour, computer technology has pushed the financial analysis, marketing and control abilities to the limits. Businesses that can adopt and apply these programs and systems are certain to strive forward in the future.

In every field: marketing, management, accounting or finance and those leading the way with technology are gaining immediate competitive advantage and offering their customers a service that cannot be competed with.

Although every business operates differently, here are a few quick tips that give your business the first step to help with the ‘technology jump’.

• Figure out your business needs and adapt the software appropriately
  Although this sounds simple, many companies are using outdated accounting or analytical software that does not suit their business objectives.
• Attend networking events
  These allow you to keep updated with where the market technology is heading and how you can stay on top of the requirements to figure out what is best for your business.
• Build your marketing online services
  This can be social media, website design or simply advertising your LinkedIn. With the world quickly moving towards online purchasing, this is imperative towards gaining new customers in this market, whilst also retaining existing ones.
• Use a central program
  For example, Xero Central allows for all your financial and accounting needs to be in one simple location, which also flows through a variety of co-existing programs.

If you feel your business is behind in your technology, contact us today via email or call our office on (08) 8172 1444 for more tips to help you succeed.