Jan 15, 2020
Rise of mobile apps for bookkeeping and accounting of Indian SMEs
According to statistics released by Business of Apps, India is the largest Google Play download market in the world.
Do I need to tell you anything more to showcase the domination of the mobile revolution? Plus, it is not showing any signs of slowing down.
Yes, we’ve arrived at a time when there is an app for almost anything.
As more and more people prefer mobile applications to get their work done, developers have to consider a mobile-first approach. Nevertheless, accounting and bookkeeping are no exceptions.
Mobile Accounting: The New Norm
We have moved on from the traditional methods of accounting. Business owners no longer need to go to their store or office to check their accounts or finances. Mobile accounting has enabled them to provide estimates, purchase orders, issue invoices, process payment receipts and more on the go. Therefore, business owners can focus on running their business rather than worrying about the administration of accounting.
You must be wondering why many small business owners are switching to mobile accounting. Isn’t it?
Well, there are numerous reasons...
Mobility
This is the best thing about mobile accounting. You are able to access your accounting information from anywhere, anytime. With tools like Easy Invoice Manager by Gimbooks, you can create and share invoices, quotations, e-way bill, payment receipts and more all through your mobile phone. Imagine you’re on a family holiday or a business tour and suddenly you need to provide a quotation. Then you just need to login to your account through the app and within a few taps your quotation would be ready. How convenient is that, huh?
Immediacy and accuracy
No matter whether you’re running a retail outlet where transactions are entered electronically or you’re handling all the transactions by yourself, a mobile accounting solution keeps all the data entries up-to-date. This allows you to easily find any kind of cash flow gaps.And mobile accounting apps automate all the calculations so that all the financial data you get will be of high accuracy.
That’s not all. There’s more to mobile accounting -
Simple and quick invoicing: You can create neat and stylish invoices, quotations, purchase orders and more.
Inventory management: Some mobile accounting tools like Easy Invoice Manager by Gimbooks provide advanced features like managing and checking your inventory instantly.
Payment reminders: You can send quick payment reminders to your customers to recover your payments on time.
Mobile and cloud-based software are changing the landscape of accounting. According to Software Advice’s survey, in 2017, 64% of respondents said that their vendors provide accounting mobile apps against 38% who don’t.
[Source: https://www.softwareadvice.com/resources/smb-mobile-accounting-trends-2017/]
That is a huge change. And the survey result clearly shows that mobile accounting will continue to grow in years to come. Many vendors are offering mobile accounting apps. However, SME owners should carefully explore their options and invest in the app that aligns best with their business needs.
