As an entrepreneur or a small business owner, you’re used to the hustle, especially when it comes to banking. Do you feel like you know everything you need to know as a small business owner? Whether you’re trying to secure a loan or understand customer data, hustle is a part of your everyday life. However tough you might be, the fact is that it has become overwhelming for business people to manage their company’s finances and banking.
But what if you could easily export your small business bank data in a way that made banking easier, and dare we say… fun? What insights would you gain and how would this revolutionize the way you build your business? These are all great questions. Take a look below for the answers.
Exporting the data to understand its hidden value
Rule number 1 of small business banking: Your business should be constantly monitoring and learning from its financial performance. You’re managing everyday problems that can range from uncertain marketing tactics to financial planning and payment delays. How do you make time to explore, export and understand the actual value of your financials?
To truly reap the benefits from the financial data behind your small business, you’ll need to be able to extract insights and learn how to leverage those insights to affect positive change to your company’s infrastructure. I know what you’re thinking—that sounds like a lot of time and effort that I don’t have! Luckily for you, we are building a hassle-free banking service that aims to be your first line of defense against the burden of financial management?
Pain-free banking = more time for you and your business
With lots of freed up time due to pain-free banking, you’re left with more time to test the hypothesis you’ve been brewing around your business. Want to see which of your customers are respecting net 30? Great, now you can! Want to look into how can you create a financial profile of customers in your CRM? Awesome, you’ve got the free time now to do so. Care to see how much money you’re paying toward your credit cards? Go ahead. Looking into switching to EFTs? You have the time now.
What your small business financial data will show you, through the help of a trusted banking company, is how to find new paths to increased revenue, how to efficiently address delays and questions, and how to reduce costs and risks as you continue on your path of entrepreneurial success. Being able to export your bank data not only provides numerical insights, but it allows you to make your financial information come to life in a way that leads to increased control and operational efficiency.
Open banking? Yes, please!
Banking can be secure and open at the same time. The move to digital means that banking can use APIs which let your favorite financial management apps work with your bank to make each other better. Imagine a world where the timely reconciliation of expenses and sorting each transaction in your accounting software went away. That’s just one of the amazing things that open banking will let you do.
Open banking lets you take advantage of all that juicy information hidden in your financial data without needing to hire a team of financial experts or programmers. It’s about democratizing financial management so that small businesses, startups, and freelancers can focus on running their businesses instead of managing their finances.