Finances And Analytics – The Tools Small Businesses Should Use

When it comes to being a small business, you want to make sure that you keep track of your finances and analytics in such a way which is organised, neat and tidy. However, there’s a lot of different apps and tools out there, and it is easy to get confused as to which one is best for you. We’re taking a look at some of the best financial and analytical applications and software that you can use to aid you in the running of your small business.

For Accounting

For the times when you need to keep an eye on your accounting, one of the best choices is Xero. It’s a cloud-based software system, which means that you can access it from anywhere as long as you have access to the internet, and is designed to cater primarily for small and medium-sized businesses.

Alternatively, you can try Quickbooks. It’s a software package which can help you manage all elements of the financial world, including the payroll for employees, and also the sales and profits of the business.

For Investor Updates

When it comes to investor updates, the best software by far to use is Visible. This app allows you to capture all of your essential performance data as and when you need it and then present it to your clients or stakeholders whenever you need to. It’s excellent for reassuring clients that all is going well.

For A Reporting Tool

If you need a useful reporting tool, then Chartio is the best course of action for you and your small business. Chartio is a great way to collect, collate and report data to clients or colleagues, and is designed for the smaller companies to quickly report and present data in formats that everyone can understand, whether that is a pie chart or a graph.

Financial Modeling

When it comes to creating financial models, there’s no program which is better for smaller businesses than Excel by the one and only Microsoft. With an exact control over the system and all of the features that a lot of people grew up using, there’s no better way to create a financial model to show people promptly.

KPI Dashboards

When it comes to measuring your crucial performance statistics, there’s no better way to do so than by using either Google Sheets or Geckoboard. Both are fantastic for a small business, with Google Sheets being the free alternative that comes with having a Gmail account registered with Google. Both are still equally good for expressing the critical performance statistics on a dashboard for easy viewing and comprehension.

Overall, these are some of the best tools which a small business can use for their financial matters and key analytical situations. Having the right tools for your business will help you to ensure success and a professional setup, which will, in turn, prove to be invaluable as you deal with customers, clients and any colleagues you may have on a daily basis.