One of the most challenging elements of running a small business has to be staying on top of the company finances, while also managing day-to-day operations, sales and human resources, along with regulatory and legal admin. This juggling act is a struggle shared by all entrepreneurs.
This is according to Gary Epstein, Managing Director at EasyBiz QuickBooks, who recognised that a number of South African small businesses found themselves in this situation, and with little to no budget to hire a full-time financial expert. "They didn't have a clear solution to help alleviate the financial management pressures associated with running a business," he says.
The opportunity, for Epstein, was to bring an affordable and accessible solution to the doorstep of the country's SMEs. He achieved this by partnering with the world's leading cloud accounting solutions provider, Inuit QuickBooks, and so EasyBiz QuickBooks was born.
"We knew that the QuickBooks easy-to-learn, quick-to-use accounting software solutions could help SMEs take ownership of their finances, success and growth," he says.
Intuit, the developer of QuickBooks Desktop and QuickBooks Online software, was founded in 1983 on the premise that the future of accounting would be accounting software.
The popular QuickBooks desktop solution was launched in South Africa in 1994 and, in 2004, EasyBiz became the exclusive distributor for South and sub-Saharan Africa.
Epstein says: "We had humble beginnings and were a team of 10 operating out of a small office in Sandton. Offering a range of QuickBooks products to fulfil the bookkeeping and accounting needs of start-ups and SMEs, we have grown the local customer base by more than 1 100%.
"Our accounting software packages help small business owners stay on top of their finances and, with this knowledge, enable them to make well-informed business decisions for short- and long-term financial success. Not only are they able to keep an eye on budget adherence, expenses and invoice turnaround from anywhere, at any time, but there is no stress when tax season rolls around, because their books are always in order. As their business grows and becomes more complex, they can look into our more sophisticated software solutions to better suit their needs."
Initially starting out with two accounting software options, EasyBiz QuickBooks now offers eight solutions (covering online, desktop and payroll packages) to choose from, depending on the size and complexity of the organisation, and the list is growing.
Epstein says: "In the coming months, we will be adding exciting new features to our QuickPerks offering."
QuickPerks is the EasyBiz QuickBooks priority support service that keeps customers, and their software, updated.
The QuickPerks Portal will include cloud access, automatic bank imports, a QuickTips section where software efficiency tips and tricks will be published, as well as a loyalty programme, which will enable customers to earn points for their interactions with QuickBooks and exchange these points for discounts on their QuickPerks Portal annual licence renewal fee.
Epstein adds: "Another exciting offering to come is something which our customers and partners have been requesting for a long time, a point of sale solution that integrates with our desktop accounting packages. We have been working hard to make this happen and, in partnership with iVend, are set to launch our plug and play retail point of sale solution, QuickBooks Point of Sale, by August 2018."
Lastly, Epstein notes the latest QuickBooks Desktop version, QuickBooks 2019, is due for release in November 2018. New features are said to include an invoice tracker, improved Institute of International Finance (IIF) import processes, and the option to transfer credits between customer jobs.
"The size of your business should not dictate its likelihood to succeed. South Africa's small businesses face so many obstacles and, while the SME market has the potential to really boost the growth of the South African economy, sadly, most don't make it to their first anniversary.
"We don't think that access to financial management tools should stand in the way of SME success, and now, with the right solutions, it doesn't have to," he concludes.
For more information about EasyBiz QuickBooks, or for a free QuickBooks trial, please visit: https://www.quickbooks.co.za/.
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