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One of the challenging tasks of running your business is balancing the costs. Today, there are several business subscriptions and solutions that deduct from your bank account. You can manage if there’s some problem in minor calculations. However, when there are discrepancies in huge amount, it is essential to treat the matter a little more seriously.
Managing small business expenses also lead to improving your overall business credit score. And to ensure that your business spending and other costs get addressed well, you can make use of specific business apps and platforms.
1. TrueBill
Do you want to manage your business finances better? If yes, then this is a smart app to opt-in for. You can get this app installed, connect your business account, and check out the way the app generates reports about your expenditure. You can categorize all the costs and subscriptions. You can also chart the finances correctly in a clear graph. You will also stay informed about your business cash availability to make essential investments and pay business bills.
That is not all! TrueBill comes with an added feature, named the “lower bill.” When you activate this feature, TrueBill will search for the business subscription solutions you pay for and compare it all with the standard service levels. After that, you have the option to start a saving process via this feature. Here TrueBill will arrange a call to your provider and also get into a negotiation in your place. Small, middle, and big scale businesses have streamlined their business expenses and debt payments using this app.
However, it is essential to know that these apps will come with a specific fee. Some apps might take a nominal part of your business savings while others can draw in more. Hence, it’s a wise decision to make these research and comparisons before you decide to opt-in for similar apps.
2. Xero
You can describe this best as an accounting platform that gets designed for mid-sized and small business houses. It can effectively manage all business payments, costs, bank account reconciliation, asset management, streamlined invoicing, and managing buy orders. There’s more! The platform also enables businesses to get correct tax calculations by offering multi-currency accounting. It can also manage finance quotes.
You can have access to this platform both from the mobile and desktop! It is the best way to stay aware of your business’ financial health always. You can get this platform at an introductory rate that can add to your savings as well.
3. Zoho Books
Today, prominent and huge business houses need professional technological apps and platforms to address their finance and business requirements. Zoho Books can help effortlessly. Zoho comes with all the features that a business house requires for keeping a track on their financial transactions. Instead of merely connecting to a business account and categorizing information, this platform functions as a complete accounting system. It effectively generates and tracks invoices, manages the inventory and payables, gets reports, manages business banking accounts and other financial functions.
Technology and business credit cards
You need to stay very cautious about your business capital! You also need to manage your business credit score. Sometimes, when a business house is trying to build back its credit, using the standard credit card might not be a good idea. In fact, banks might not grant the business owner a credit card based on the questionable credit history and score. Today, advanced technology made it possible to launch unique credit cards that help businesses to correct their credit scene. To know more about this, you can check out Legacy Visa Credit Card Review – A Second Chance at Good Credit.
It is essential to have a favorable business credit score. Only then can you draw in a business loan or an auto loan for your business requirements. The advanced credit card that enables you to build up your business credit all over doesn’t require any deposits. It helps to add to your business savings and help you repay previous debts in time. And this, in turn, adds to your credit score. Business houses can better their financial history and draw loans at favorable interest rates.
That is not all. The high-end technology also keeps your business credit cards secure. There are advanced technological features that work to ensure business credit card security.
Location Tagging
Did you ever have to make an urgent business payment while you are on the go? If yes, chances are you had used a business credit card to make payment while traveling. Did it get declined? If yes, you can opt-in for a better card with advanced technology today. The new-age business credit cards make use of the location in your Smartphone to authenticate that you and your business credit card are in the same place. As you make your payment, these business credit cards make a location comparison of the transaction in your mobile. When the information matches, the online purchases get sanctioned. You can switch on and off this facility based on your requirements. It saves business owners from online forgeries and identity thefts.
The advanced biometric logging
Several business credit cards companies are attaining impressive feats on card security. Some cards come with a biometric fingerprint scanner. When business owners register for this credit card, they automatically store the fingerprints. And this, in turn, gets transformed into an encrypted online template. When you make a business payment through the card, the card identity gets verified. Only when the fingerprint match occurs, your business payment gets approved. Hence, no one else other than the assigned person can use this business credit card. It brings down the percentage of business credit card forgeries.
Technology forms a vital part in today’s new business and finance domain. It helps business owners and houses arrange their expenses and business investments streamline and within complete control. Other than that, it keeps business credit cards secure and helps business owners to set their credit record and score correctly. And this helps business owners to expand their business in a well-managed way.
