Three ways to boost your business, fast!
Business owners are always looking for time-saving solutions and ways to make their companies work smoother. Try these three top tips to boost your business: The power of social media First, you must decide what you’d like to achieve. Whether it’s visibility or reaching potential customers, you can tailor your content strategy accordingly. Your content strategy is based on creating engaging social media posts, blogs, videos and more. Don’t forget to include customer testimonials and case studies to highlight that you have plenty of happy customers. With a budget, you can run social media ads to bring people to your site. Set specific goals and targets carefully to reach the right audience and get the best results! The best thing about leveraging social media to boost your business is that you can track every minute detail and adjust your budget accordingly. Social media is trial and error, so don’t feel discouraged if you don’t immediately achieve the results you were hoping for. Introducing automation Automation cuts out wasting time on boring tasks that can be tiresome and time-wasting while simultaneously reducing the risk of human error. The latest Flexigrow business tool, Business Management, is an example of an end-to-end platform that can make you and your customers’ lives easier. The tool aims to give you your precious time back thanks to features such as automated payments allowing you to get paid faster, automated menial tasks and in-built tracking to help you monitor your upcoming and outstanding invoices with up-to-date data. Embracing new technologies will bring continuous improvement to your business. Automating and speeding up processes will be cost saving, as you can utilise staff in more strategic areas. Invest in the right people Although you may want to keep hold of your profits, investing in your business is important so you can enjoy the rewards later. Hiring new employees will bring new skills and knowledge to your business and a fresh perspective from a relevant background that will surely boost growth. It is important to add that the right people will add to the positive working culture and make your business a better workplace. Developing a promising individual will also feed into your business’s leadership pipeline, securing its future. Boost your business All three approaches are investments that ultimately drive success and yield long-term benefits. However, accelerating your business takes time and dedication. Consistency and trial and error are essential to seeing future success! If you’d like to learn more about a business tool that can boost your business, head to the Flexigrow website. From automated payments to inventory management, Flexgrow is here to help. Request a demo today!
Creating a great invoice
Your ultimate guide to invoicing Have you recently started your own business? Or are you looking to up your game? Do you dread having to raise a client invoice? Check out our handy invoicing guide. Consider the layout The layout of an invoice should follow a simple, standardised format to ensure clarity and ease of understanding. Many businesses opt to include their logo at the top of the invoice. Highlight the totalamount due, including any discounts or adjustments. Remember, every business is different. Don’t be afraid to customise templates so that they match your requirements. The newest tool in the Flexigrow suite, the SaaS platform Business Management, offers a range of customisable templates, allowing you to choose the best option for your business. Customer information Ensure you have all the necessary client information: The client’s name, address, organisation and contact details are a great starting point. Remember to include your business information on there too! With Business Management, you can save the customer details to the system so that you can invoice them again in seconds. Creating an invoice number An invoice number is a unique number used to identify that specific invoice. The unique number is a way of tracking payments and maintaining accurate financial records. When the client pays, they will reference the payment. Different businesses use varying invoice number formats: Some use sequential numbers; others may incorporate customer joining dates or birthdays. However, the Business Management platform can help you easily track paid and unpaid invoices. See all your invoices in one screen and whether they are paid, expired, sent or unpaid. Provide a detailed invoice Check that you give sufficient information on the product or service the customer has purchased. Include a brief description and the units of the product or service provided- for example, the numberof hours worked on a job. Calculating the total Calculating the sum should be straightforward. Remember to include any different rates in the payment, such as Sunday pay rates or discounts. State the currency in which the invoice is billed to avoid any confusion. Means of payment Include clear information on your accepted payment means, whether bank transfer, in cash or via a payment gateway. The Flexigrow Business Management platform invoices include a ‘pay now’ button, which opens a separate window and allows customers to securely enter their payment details and settle the invoice there and then. Alternatively, opt for our convenient global payment solution, Eway. Cut out human error with the auto payment reconciliation option and enjoy peace of mind that you’ve got the latest anti-fraud tech protecting your transactions. Make your life easier and enhance customer experience by giving Business Management a go! No more wasting time manually creating invoices and keeping track of payments and due dates. Our software will handle it for you, including automatic reminders for outstanding payments. Work from anywhere via our platform and send quotes and invoices instantly with our customisable templates. You can even save items for future use. For more on how Business Management can give you more time to spend on business growth, get in touch with our team today.
Four reasons that you should invest in software to advance your small business
Getting ahead of your competitors can be made more accessible by leveraging the newest tech. Outdated software can stunt your business’s growth. Here are four reasons that you should invest in new software to advance your small business: 1. Increased productivity Previously time-consuming tasks can be simplified with end-to-end SaaS software, allowing employees to dedicate their valuable time to essential projects. Software developers’ primary aim is to make the users’ lives easier, and the automated processes they can introduce into a business would improve productivity. 2. Advantage over competitors Implementing the latest technologies gives you an advantage over competitors, as you can complete essential tasks faster, leaving them in the dust! .IoTs are the future, and trailblazers will be ahead of the game. 3. Integrated tech Undoubtedly, integrated technology will provide a smoother run for customers and employees alike. Whether you’re facilitating collaboration between teams and inventory management or simply looking to improve productivity, connecting different systems will result in accelerated growth, colossal money and time savings for your tech team. 4. Improved visibility Workflow platforms can make an enormous difference to your business’s productivity. Centralise essential information straightforwardly, where each team member can see tasks assigned to them and others, monitor progress and track metrics. A Project Manager’s dream! Want to update your business’s operating system? Staying ahead is easier when you’ve got the right software. The benefits of SaaS software for small businesses are endless. Learn how we can increase efficiency and maximise capital growth with Flexigrow’s Business Management.
Flexigrow: Our story so far
Currently, finding the means to increase efficiency and unlock growth is essential. Our story began in 1989 when our founder, Greg Rynenberg, worked to transform his business by creating software programs to streamline operations and escalate growth. Now in 2023, we are pleased to announce the launch of our brand-new SaaS platform solution and the second tool to Flexigrow’s suite, Business Management. A Passion for Efficiency Intending to optimise his own broking business, Greg worked alongside a leading software company to create a sophisticated solution that would offer in-house premium funding to benefit his clients. Together, they developed a bespoke business tool that laid the foundation for our ongoing commitment to creating tools for greater business. As time passed, Greg saw the opportunities that integrated software could offer his business. The internet was improving in leaps and bounds, and Greg was keen to harness its power, creating software that caught the attention of many other businesses. Skip forward 23 years, a growing team, and a real commitment to advancing our software solutions; we are now thrilled to present our brand-new SaaS platform, designed to offer businesses short of time, a suite of tools that streamlines operations, simplifies processes, and releases untapped potential. The latest tool in the Flexigrow suite, The Business Management SaaS platform harnesses the power of automation so that you can get paid faster. To learn how Flexigrow can support your business through the power of software, request a demo of Business Management on our website today.
Is your workload too much for you to handle?
Having lots to do is usually a reassuring sign for most small business owners. However, an influx of work can set you and your team down a challenging path where everything becomes too much to handle, eventually leading to burnout and exhaustion. Here, we cover some methods that you can apply if you find yourself in this predicament. Is your business well equipped? Did you know that having the proper tools to assist with everyday tasks directly affects work satisfaction? With many companies still encouraged to work from home, what is usually a half-hour task at the office may now take double the time to complete. The change in work environment can impact your team’s efficiency in handling workload and their level of productivity because of the inability to access certain facilities, Using systems or automation programs can assist with processes and help you and your staff become more productive at work. Improved productivity gives people more control over their day and decreases the time spent completing a task, says Gretchen Rubin, in an article by Inc. Before you make any software purchases, it would be a good idea to perform a budget review. This gives you an insight into what you can afford and how much that program can help achieve the level of improved productivity you want to see in your business. Your team’s feedback will come in handy as they are the right people to speak to before making a decision. They can let you know the tools they need to help them do the job more efficiently. Do you have enough people? If you’re a small business but the people on your team are over-allocated with work, then that’s a clear sign you’re understaffed. Part of improving productivity is avoiding understaffing and overloading. According to Project Manager, a good rule is that people should be allocated to specific tasks only 80% of their time, while the remaining 20% should be spent on things like attending meetings, answering phone calls, and assisting customers with their enquiries. Instead of rushing to hire new people, consider what qualities you would like for the new employee(s) to bring to the table. Hiring individuals with different strengths and abilities make for a more well-rounded team. If the heavy workload is seasonal, you could consider hiring staff on a fixed-term basis. Work smarter, not harder with handling workload With new business rolling in, you’ve already got your hands full. Being productive at work does not necessarily mean handling workload for longer hours. It’s time to figure out solutions that will help fulfil smaller tasks so you can focus on the bigger picture. For some, this means implementing modern applications and technology to help with administrative tasks, building reports and tracking payments. Especially during the COVID-19 period, working smarter is essential in ensuring your business moves forward. Figuring out what you can and can’t control is one of the ways to help propel you. According to UserZoom, businesses can be so caught up with trying to understand the latest trends and analysis that they often lose track of the point behind it all. Apart from minimising costs and improving methods for better efficiency, being quick and responding urgently in any situation are key factors behind survival. Accenture’s Insurance Lead for Australia and New Zealand, Marianne Hutchinson, stated on insuranceNEWS.com.au that companies that apply digital solutions to their business processes have a competitive advantage over those that do not. Those positioned for a digital transformation can focus on growth, whereas those that aren’t, will need to decide how to advance their business while facing financial cutback arising from COVID-19. A digital switch is inevitable and will impact your business operations on a day-to-day level. Embrace the changes with how you handle workload and improve productivity. If you’re looking for ways to run your in-house Premium Funding business effectively, Flexigrow offers the solution you need. Our Premium Funding software provides the tools to operate and automate key activities in your business, such as supplying quotes, creating loans, and preparing financial agreements. Get in touch with the team to find out more!
A technological shift towards better insurance services
There’s no doubt that technological advancements have been reshaping the insurance industry. Forward-looking insurance brokerages will be leveraging this opportunity to create operational efficiencies, be more customer-centric and improve credibility. Imagine a business flourishing as tasks are completed promptly and works progress smoothly between multiple departments within the company. This is the corporate dream, especially for insurance businesses that have a more complex structure where brokers, claims, accounts and marketing all work together to deliver results. The fact is, changing the way a company operates is a big task that requires significant effort and teamwork, but for insurance brokerages that make this shift will most likely see remarkable improvements. Below, are some benefits insurance brokerages can gain by leveraging technology: Workflow efficiency A simple way for insurance brokerages to leverage technology is investing in software-as-a-service (SaaS) applications, which can be used to assist sales operations, HR administration, finance processing and more. The flexibility offered by these applications will help employees complete their task faster, leaving them with more time to focus on other essential tasks that have to be done manually. When tasks can be completed efficiently, this eliminates the pressures and gives employees more time to polish up their final work to produce higher quality outcomes instead of rushing towards the deadline. For insurance brokerages that have more mature technology capabilities, a suite of Internet of Things (IoT) technologies can help reduce manual processes in broking and claims. For products like home insurance, IoT building sensors can stream data regarding risk and damage to the broker and replace in-person visits from claims assessors. Further applications of its technologies could prevent insurance losses on roadways, at worksites, and in homes and businesses by allowing brokers to perform dynamic risk assessments using updated data. Better customer service Clients now have more complex needs and are more knowledgeable about their choices than ever before. They look for personalised offerings and tailored communications, and on top of that, they want the best rates from every insurer in just a few clicks. A 2019 Global Consumer Insurance Survey conducted by Ernest & Young (EY) found that only 75% of customers are very satisfied with the current outbound communications from insurers. 38% of customers claim to be advocates, but cancel their policies or switch providers, and 80% of customers are willing to use digital and remote channel options for different tasks and transactions. The results from the survey show that there is substantial room for improvements when it comes to fulfilling customers’ expectations. Since 80% of customers are willing to try digital platforms, insurance brokerages need to leverage technology and optimise all interactions. There’s huge potential for artificial intelligence (AI) to handle customer inquiries, claims reports and data analysis. The development of AI in insurance will not only speed up the time it takes for a customer to accept a policy or settle a claim, but can also collect and store historical and behavioural data such as a driving record. This can be used to create more personalised insurance packages automatically. This development and growth of technology in the industry will positively redefine the role of brokers by broadening their ability to assist the customer. Rather than spending their time searching for pricing options, they can now use their expertise to offer valuable advice and solutions and spend more time building a trusted relationship with the clients. Valuable services As advances in AI assist in streamlining repetitive tasks such as information gathering and documentation review, insurance brokerages can redirect their operational spending towards relationship-building activities. They can spend more on networking events to build a relationship with Underwriters or hold informational seminars to help educate and interact with prospective clients. As such, these technologies can help digital-first insurance brokerages add significant value to their services and increase their credibility within the insurance market. To embrace this technological transformation, insurance brokerages should form interdisciplinary teams by integrating technology with operations and use digital tools that better customer service. In addition, insurance brokerages should provide sufficient training for employees regarding the efficient use of new technology and build capabilities to work regularly with external technology service providers. It is also essential to make sure the organisational cultures encourage and nurture experimentation for the business to embrace the changes. If you’re ready to embrace this technological change, why not start by digitalising the management of your accounts using Flexigrow’s premium funding software. Our software help keeps track of payments and overdue invoices, and it’s so simple that you can operate it in-house without needing an accountant’s brain. Not only will a premium funding software save you time and money that can be spent on relationship building, but you can also add more value to your service by offering clients an option to pay by instalments. This can help some clients with their cash flow management and is a win-win situation for both you and your clients. If you’re interested in using a premium funding software, our team at Flexigrow It can give you an introduction to the setup and procedures and advise you on how to make most of the software in your insurance business. Get in touch with the team to learn more about Flexigrow’s premium funding software.
3 benefits of cloud-based accounting for your small business
Introduction When you take the plunge to start your own business, the last thing you want is to be bogged down by operational tasks. Instead, you want to be focusing your efforts on growing your business. While this sounds like an ideal plan for most small business owners, it isn’t the reality for many. You may be finding yourself knee-deep in paperwork and trying to catch up with administrative tasks when you could be attending to other more important matters. When we refer to essential operational tasks, accounting and bookkeeping are what usually come to mind. Without them, you can’t track your business’ financial performance and that places the company at risk. However, the task of manually extracting data and generating reports are tedious and time-consuming with a high likelihood of human error. If we’ve learned anything from the current pandemic, it’s the demand to access information remotely and instantly. This is where cloud-based accounting tools come to the rescue. What is cloud-based software? Cloud-based software, also known as “Software as a Service” (SaaS), is a program that is made available on a subscription basis. Unlike your traditional desktop program, a cloud-based provider securely hosts all necessary databases and servers, allowing you to access your data anywhere at any time (provided that you have an internet connection). The benefit of a cloud-based system over a desktop program may not seem significant at present, but in a world where digitalisation has become essential, the differences will become more apparent over time. This does not just apply to your day-to-day tasks like creating and sending invoices or tracking your expenses. Cloud-based software also helps with the advancement of your business altogether. Here are 3 main pros to using a cloud-based accounting tool: Accessibility Using a cloud-based service means that you will only need your device and an internet connection to access your records regardless of your location. This can be an added advantage to your remote working experience as it gives you more control when tracking business finances and managing clients. Thomson-Reuters states that the accessibility of a cloud-system is also the key to stronger client relationships. File-sharing features enable you to collaborate with your clients digitally while saving them the time and hassle of travelling to your office, especially when social distancing is encouraged. The integration across platforms also allows your clients to make any necessary changes online, where it will be automatically updated across all supporting applications without having to import or export data. Security Security is critical, especially when your business has access to large amounts of sensitive information. Storing data on a cloud system is safer than having it sit in hardware at the office where there are risks of theft. If you or one of your staff has their computer or laptop stolen, the money and time involved to retrieve the missing data could cost the company dearly. Therefore, storing your data on the cloud will provide better security against theft, especially when many are still working remotely, and hardware are left unattended for an extensive period of time in the office. According to Digit, cloud-based accounting also addresses other safety concerns with higher level and uniform security standards, automatic redundancies for data, and seamless security upgrades and backups at no additional cost to the user. Compared to traditional methods of storing data, it’s a much safer choice for managing business finances. Scalability You might be thinking that a cloud-based accounting system is only suited to large companies with bigger databases and more staff. In fact, the size of your business does not matter. You could be starting out with only a few clients or run a huge firm with hundreds of employees; the cloud is designed to grow with your business. Not only does it adapt to its growth, but it can also help you boost your business using services and features you would not otherwise have. Manage business finances with Flexigrow Our fee funding software provides all the tools you need to deliver a higher quality of service. Manage your business finances securely and efficiently. Automate the process of creating and sending invoices. Provide your clients with more payment choices and improve customer relationships with features and functions designed especially for professional services. Our fee funding software will enable you to cover more ground in less time. Get in touch with the team to learn more about Flexigrow!