Mobile technology offers a wide range of financial benefits to small businesses.
Now widely embraced by most businesses, mobile devices are helping companies reach new levels of productivity and innovation. And as a new survey suggests, it may also be helping small businesses across Australia keep their cash flow finance healthy as well.
The new Australian Small Business Mobile Study from financial software firm Intuit surveyed more than 500 Australian small businesses on their use of mobile devices in the workplace. One of the most pertinent findings from the research was that while only a quarter of such businesses are using these devices to their full potential, the majority are still enjoying improvements in productivity, efficiency and revenue.
For example, well over a third (37 per cent) of small businesses said that they were using mobile technology to access business data and increase revenues - by an average of 8 per cent.
In addition, 18 per cent of those using mobile devices agreed that the technology "saved money" and helped to improve their small business finance.
Productivity was another key area in which mobile technology could help small businesses, as around two thirds said that they were able to save time with the technology and 47 per cent reported "increased efficiency". These respondents claimed an average of around 7.5 hours saved per work week, which amounts to around nine working weeks every year.
"The direct correlation between usage and business returns is no coincidence," said Brad Paterson, vice president and managing director of Intuit Asia-Pacific, in a February 12 statement.
He added that those who know how to tap into the full potential of mobile devices can differentiate themselves in the marketplace and serve their customers better.
"They are the ones generating the biggest returns," he concluded.
If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].