Why you need a Connected Small Business
David Egerton-Warburton
Director at Agrimaster | Software and Services to enable farm business to maximize profit and minimize financial risk.
Recently there has been much discussion in the world of small business financial management about the role of connectivity in operations. While industry influencers advocate becoming a ‘connected business’ to save time and expenditure and improve processes, this idea leaves many small business owners feeling confused, overwhelmed and intimidated. So let’s break it down a little:
What is a ‘connected business’?
In a connected business, software and machines take over processing tasks and human effort is saved for thinking and deciding. In a connected business, this technology collects data and advice from across the world to improve strategy and day-to-day decision-making to reduce risk and to optimise current and future profitability. A connected business has core management software tools communicating with one another with little or no human intervention, and these tools allow businesses to connect digitally with key advisors, clients and suppliers.
Importantly, a connected business reduces the replication of data, which in turn:
•Frees up people to do more important things like thinking and decision-making
•Reduces errors in and the creation of disparate data due to human keying errors
•Keeps up with the pace of modern business by making important information used for decision-making available instantly
The ‘connected business’ in the future of Australian small business
According to workplace analysts, the future competitive landscape for all businesses is one where machines (including Artificial Intelligence robots) will do most of the manual labour and data processing, while humans will be freed up to focus on our core capabilities including analysis, thinking and interpersonal consulting skills.