Tips to Streamline Business for Start-Ups and Small Businesses

Start-ups and small businesses would benefit from incorporating technological and digital processes into the everyday functioning of their companies. Implementing automated invoicing and making use of cloud computing, for example, could help companies streamline their business.

Whether the company in question is a multinational giant or a start-up, there are various aspects in the everyday running of business processes that can be modified and updated. This would help organizations gain more control over the executive and financial workings and help streamline businesses. In particular for small businesses and start-ups, making maximum use of available technology and software is vital to the smooth running of business processes.

Companies can streamline their business by incorporating more technological and digital elements in their processes. Automating accounts processes, cloud-computing, etc, are a few examples of this. Companies could keep the following tips in mind when incorporating these elements, as well as other ways of streamlining their business:

Automated Invoicing

Companies should consider automating their accounts processes. This method of e-invoicing or automated invoicing establishes a direct link between a company’s and its clients accounts departments. This would enable companies to maintain and enhance steady cash flow as well as have a solid system of tracking and archiving all transactions. This would help companies improve their routine operations and could also help make dealing with annual tax returns less of a hassle (Brittany Thorley, YFS Magazine, "5 TECH TIPS PROVEN TO STREAMLINE BUSINESS OPERATIONS", 2014). There are various aspects to be considered when shifting from traditional invoicing systems to an automated one. Companies should keep in mind the necessary hardware and software that would be required for the same, as well as internal capabilities of running and maintaining such a system. Apart from this, there are various formats for electronic invoices that companies must adhere to. For example, in Norway, the use of Ehf or ‘Elektronisk Handelsformat’ is the standard protocol. Also, clients and customers must be integrated into this system as well.

Cloud Computing

Mobility and flexibility is vital to running business operations in a smooth and efficient manner. Put simply, cloud computing is the usage of a network of remote servers that is hosted on the internet as opposed to a PC or local server. Data can be stored, managed, accessed and processed via the use of this network. Cloud computing allows companies to have back-up and access to all relevant data from wherever they are, even when operations are run remotely (Eric Griffith, PC Mag, "WHAT IS CLOUD COMPUTING", 2016). Such a system also ensures that data is always secure and protected from accidents, unforeseen circumstances or natural disasters.

Customer Portals

Companies should make use of online customer portals in order to better communicate with existing and potential client bases. Customers can be provided with interactive, personalized service via the use of this systematic approach (Brittany Thorley, YFS Magazine, "5 TECH TIPS PROVEN TO STREAMLINE BUSINESS OPERATIONS", 2014). Using the web for this purpose would greatly help companies streamline their business. This is because not only does such a system help companies improve their online presence, but also reduces pressure on company personnel. This would leave employees with more time and energy for running other processes and activities. Companies can thus create a good brand presence online as well as ensure customer satisfaction and loyalty.

Companies that are considering the above ways to streamline their business processes could conduct research online regarding the same. In particular where automated invoicing is concerned, using the guidance and services of professionals could be beneficial to companies. One such company in Norway that provides services and information regarding electronic invoicing, EHF-Faktura, etc, is Basware. More information can be found on their website.

For every business process and aspect, there are always questions as to which functions should be conducted with premise-based solution or which ones should be outsourced.