Why Office 365 isn’t the only online tool you need for your business.

Most of us already know the benefits of cloud-based software and platforms such as Office 365 or the Google suite of programs which allow us to access documents and data from anywhere with an internet connection, including from tablets and smartphones. Not only does this global access allow us to take our business with us, wherever we are in the world, it also means that a number of individuals can view, edit and collaborate on documents and projects in real time saving not only time for your business but also the risk of having multiple versions of the same document moving around your business. While the idea of using cloud-based technology for emails and documents is not new, there are a number of other opportunities which will allow your business to move more and more of its function online.

Accounts and payroll

Of course, most of its use online banking in our day-to-day lives both for business and private transactions indeed the rise of challenger banks has meant that few of us are going into physical branches of our high-street banks than ever before. With bank level security and the ability to store and retrieve information from the cloud many accounting software companies also now offer the opportunity to have a web-based accounts and payroll system.

Accessing the system from anywhere in the world will ensure that your business remains financially stable and your employees are paid when they expect to be. With integration to many large business banks you can make sure that your transactions are reconciled and provide detailed reports to your accountants or auditors and thus incur less costs for their time.

Growing your supplier base

Too often we focus on our customer base and how we reach them via how online presence, be that through our website, social media feeds, or paid advertising activity, through Google or social media channels for example. Using the internet to source, procure and contract suppliers however is a fantastic way to ensure that not only are you getting the best product or service for your business but that you are also able to manage your expenditure. By accessing the global market, you not only have the opportunity to sell to more people but also for more people to sell to you, meaning you can look for the best deals in order to maximise your company’s revenue and profits. Using cloud-based technology a number of services now offer procurement and contracting services through a web-based portal. Typically these services allow you to put contracts to tender and managed a bidding process via on-line auction, ensure that all your supplies are on-boarded fully and that your due diligence is completed properly but also provide you with detailed reports of what you are paying to your suppliers allowing you to analyse where you can increase your revenue and profitability by reducing costs and waste in your supply chain.

Having a global exposure through these procurement websites also means that you are not limited to goods and services which are supplied locally but you can, if it’s right for your business, engage suppliers from all over the world. Of course, by putting your business on the global stage you are not only able to attract supplies but potentially come to the attention of prospective customers too. If this type of web-based solution is one which is attractive to you and your business, you can read more here and take the next step to becoming a truly global business.