From XU Magazine, 
Issue 22

Aspirin for Small Business

Pain in business is everywhere, from friction points, to being time poor. Pain happens when your needs aren’t being met and small businesses experience more than their fair share.
This article originated from the Xero blog. The XU Hub is an independent news and media platform - for Xero users, by Xero users. Any content, imagery and associated links below are directly from Xero and not produced by the XU Hub.
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With 20 years’ experience in financial services, I understand the amount of resources it takes to develop solutions, resources that a small business does not usually have access to. However, what small businesses lack in resources and economies of scale, they make up for in agility and therefore can slay pain faster and more effectively. For example, in the performance uplift journey, while they cannot afford a dedicated analytics team to trawl data, the growth in cloud apps means small businesses can tap into technological advances more quickly than their larger counterparts. They are not bogged down by laborious vendor sourcing processes.

The marriage between small business and cloud apps unlocks a competitive advantage for small businesses over larger companies (50+ staff). Helping small business thrive is the key to economic growth and competition that, in turn, drives innovation for better customer solutions.

...Nothing motivates me more than helping small businesses alleviate pain and drive the economy to grow faster than ever before!

Manual Analysis Paralysis

One of the biggest pain points, from my own experience and in speaking with small business owners, is how time consuming it is to analyse business financials with the intention to speed up debtor collection and grow the customer base. Traditionally accountants’ acumen lies in tax and financial reporting, so they are not necessarily across product economics or the customer/supplier ecosystem.

Zivora – Making pain redundant

So my business partner and I created an application to analyse our own business growth opportunities and provide financial insight alerts to help us give the greatest value to our employees, customers, suppliers and the tax department.  Everybody happy = healthy bank balances and cashflow all round!

The natural progression was not only to make this application available to other small businesses, but also to encourage bookkeepers and accountants to introduce it to their clients. This allows bookkeepers and accountants to change gear by automating what they do and allowing them to provide a higher order virtual CFO/COO/CMO capability to their clients. The key was to make it fun and tactile at any time outside the traditional contacts (email, face to face, phone) — so we socialised accounting by creating beautiful actionable growth insights that accountants and clients could interact with anytime, anywhere.

Lay your pain points down on me aka and let’s slay them one by one!

Why leave it there?

Start feeling connected to your finances, try Zivora for free

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