rom working with FinTech companies, to implementing off the shelf and bespoke systems into clients’ business, FinTech in various forms is now an essential element of most successful businesses. To access fast help with FinTech you can talk to one of our FinTech consultants today.
Small businesses in particular stand to gain from the arrival of such systems. By working on a daily basis with cloud based accounting packages such as Kashflow, Xero and Quickbooks, to helping businesses integrate EPOS systems, iZettle, Apple Pay etc. into bespoke, end-to-end, straight through processing systems, FinTech can now be embraced by all to create fluid business operations. Considering the potential of FinTech to transform the efficiency of your business, we can now simply dive in and take a look at some of the many benefits of working with FinTech companies:
- Data is always in real time (for example the UK Government’s Real Time Information system which removes inaccuracies in employee information).
- Businesses can aquire practically limitless data.
- Data is monetised in new exciting ways, issuing in new types of business start-up and fulling a fresh economic playing field.
- SME’s can gain access to more funding sources due to dramatically more streamlined cash flow management.
- FinTech companies can take advantage of the latest, perfected innovations in digital banking and blockchain technology. This has the potential to create and open new marketplaces within further adrift locations and increased opportunities for global mobility.
- In-depth machine learning, which is a capability unique to developments in financial technology (as well as social media), is driving an unprecedented level of businesses who can offer bespoke products. Similarly, services can be tailored towards specific customers without a heavy reliance on outbound marketing.
- With specialist assistance from a FinTech firm a business is now able to improve the entire customer experience by setting up elegant software systems to help reduce ineffiency and offer smooth payments.
- Financial systems, which may have traditionally been misaligned, now have an increasingly consistent arrangement which benefits all parties.
- In conclusion, the likely benefits for all businesses when embracing FinTech are considerable.
Find out more about digital banking, cloud accounting and MTD (Making Tax Digital).
We can help you get organised and stay on top of paperwork, whether you are a Sole Trader, Partnership or Limited Company.