AndPlus is excited to offer our readers the following guest post by business blogger Margot M.:
As a business owner, your job requires much more than just sitting at your desk in front of the computer every day. In between meetings with clients and employees and everything else you have to do in your everyday life, there isn’t much time to manage your company’s cash flow. Keeping track of accounts receivable, accounts payable, and inventory on-the-go can be a real challenge. Stop lugging your laptop around and frantically searching for a Wi-Fi hotspot. You can access everything you need, including inventory management software, from your smartphone and manage your cash flow more effectively than ever.
Managing your company’s cash flow involves paying close attention to your accounts receivable. Using dedicated smartphone applications, you can keep track of which of your regular customers pay on time and which ones pay late. And you can keep track of who still owes you money. By creating a customer receivables aging report on Microsoft Excel or another spreadsheet program, you can access and update the spreadsheet from your phone using apps. Organizations like AndPlus can create a customized customer receivables aging report app for your company’s needs.
Setting up a system for accounts payable that works well for your business is also crucial. You need to make sure you never pay suppliers when you don’t have enough money in your company bank account from customer payments. Because it’s best to wait as long as possible to pay your suppliers, it is beneficial to your company to make electronic fund transfers. Electronic fund transfers allow you to pay your suppliers the day payments are due, rather than having to send a check out in the mail several days before a due date. Since so many major banks have mobile banking services, you can make a quick electronic fund transfer from your phone when you get a break in your busy day.
A large fraction of your company’s resources are commonly tied down in inventory, which necessitates careful management of inventory. Luckily, you can find inventory management software online, and you can even get an inventory management app customized for your smartphone. Once you have this app, you’ll always know the status of your products in progress, raw materials, and finished products, and you’ll be able to instantly tell which products are selling and which aren’t, so you’ll know what to order in the future. More and more suppliers are keeping track of online trends, and you might just be able to order inventory from your smartphone too!
With a customized mobile application from AndPlus, you can stop relying on your computer to run your business and start using your smartphone. With apps that let you access Microsoft Office programs, make electronic fund transfers, and manage your inventory, the way you conduct business will be more effective than ever!
Margot M. is a guest post writer on the subjects of general business issues and resources.