A survey conducted with 500 successful entrepreneurs reveals that issues involving the cash flow of their small to medium sized enterprises (SMEs) are heavily on their mind. 63% of respondents even said that cash flow issues are a regular source of stress and anxiety for them on a day to day basis. To ease the stress of managing the cash flow of your SME, an advisable move would be to have a managed service provider take care of all your cash flow worries. Today we discuss a few reasons as to why third party managed service providers and software as a service can help improve your business cash flow.
Using a Third Party software as a service
The main aim for any business owner is always to have a positive cash flow. That means having more cash coming into the business then money going out of it. Many things can affect the cash flow of a business such as expected and necessary IT system upgrades, slow productivity because an employee is on vacation or simply having in-house staff being unable to solve an issue. IT system downtime can slow down payments and interactions with important clients and this can, in turn, affect the cash flow. These factors seem out of a business owners control. However, using a third-party software as a service (SaaS) application can severely lessen the likelihood of these situations taking place in your business. A very popular and competent SaaS application is Microsoft Office 365, because of its reliability and affordable pricing to small businesses. By having a SaaS application, the need to spend money on IT servers, networks and several employees is completely gone. The SaaS application helps businesses save money by providing all the necessary features they need to run smoothly but without the hefty price tag. The Microsoft Office 365 subscription come with a few notable few features such as Microsoft Outlook for easy corporate emailing, One Drive for ample cloud storage and Azure services which provide fortified cyber security for your data in the One Drive.
Having a managed service provider to improve efficiency
Besides subscribing for a SaaS application, hiring a third party managed service provider can also help you achieve a positive cash flow. Instead of sitting through a long process of hiring, training and ensuring your new in-house IT team can acclimatize well to your business workings, an easy way of skipping all these steps would be to hire a third party managed service provider. Managed service providers are already very knowledgeable when it comes to handling SaaS applications since they deal with many different clients. Also, IT professionals that work with these third party service providers are also aware of the latest cyber security protocols that companies should adhere to for their own safety. There is also the fact that managed service providers offer 24 IT support all days of the year. No matter the problem, businesses can rely on them to solve any IT related issue. This is especially beneficial as businesses would never have to face the issue of an unresolved problem due to an in house employee being away on vacation or on sick leave. Managed service providers would enable businesses to be more productive, resolve issues faster and spend less money than it would to train and hire an in house team.
Using all SaaS applications along with a managed service provider will help SMEs save a lot of money in the long run. Employers can invest their time on other tasks like growing their business rather than being stuck paying for expensive IT equipment and finding specialized IT professionals to hire. Business owners can expect to see a positive turn in their cash flow, as well as overall employee productivity overtime when they implement these key services into their business.
