{"id":173,"date":"2022-04-27T17:39:56","date_gmt":"2022-04-27T12:09:56","guid":{"rendered":"https:\/\/www.zikzuk.com\/blog\/?p=173"},"modified":"2023-03-06T17:06:14","modified_gmt":"2023-03-06T11:36:14","slug":"5-ways-how-zikzuk-can-improve-your-business","status":"publish","type":"post","link":"https:\/\/www.zikzuk.com\/blog\/5-ways-how-zikzuk-can-improve-your-business\/","title":{"rendered":"5 Ways How ZikZuk Can Improve Your Business\u00a0"},"content":{"rendered":"\n

Financial management is a crucial part of running a small business. It aids in the monitoring and understanding of business profit, while determining whether the business has good cash flow. It also helps in making decisions on purchasing inventory and assets to enhance business growth. <\/p>\n\n\n\n

Proper financial management enables a business to make better use of its resources to achieve a competitive edge and plan for long-term financial stability, so improving its prospects. <\/p>\n\n\n\n

ZikZuk offers several services that aid in the proper financial management of a business. Here are five of them: <\/p>\n\n\n\n

    \n
  1. Visibility of Business Finances<\/strong> <\/li>\n<\/ol>\n\n\n\n

    Managing business finance can be challenging. The accountant often gets overwhelmed with where to begin, and getting precise financial information and reports becomes more difficult.  <\/p>\n\n\n\n

    ZikZuk’s Business Finance Manager<\/strong> (BFM) integrates with Tally data to provide a holistic view of business finances and real-time insights that enable make smarter business decisions. <\/p>\n\n\n\n

      \n
    1. Automated Payment Reminders<\/strong> <\/li>\n<\/ol>\n\n\n\n

      Over 11% of invoices issued by small businesses are paid late. These delayed payments by customers lead to a lot of time and effort being spent to follow up with them for collection and result in poor cash flows. <\/p>\n\n\n\n

      ZikZuk BFM helps save time on the process and enables consistency in the payment process by automating the reminders to customers when their payment becomes due through SMS, email, and WhatsApp. <\/p>\n\n\n\n

        \n
      1. Cash Flow Management<\/strong> <\/li>\n<\/ol>\n\n\n\n

        According to a US Bank research, poor cash flow management was the cause of the collapse of 82 % of small businesses. Therefore, improper cash flow management is the biggest threat to a business.   <\/p>\n\n\n\n

        The interactive platform of ZikZuk BFM makes it simple to review cash flow performance for each month, anticipate future cashflows, and plan future growth with cashflow projections. <\/p>\n\n\n\n

          \n
        1. Create Sales Entries from Mobile<\/strong> <\/li>\n<\/ol>\n\n\n\n

          When the business gets a new customer from a salesperson on field, there is a significant amount of time before the invoice entries are generated.  Moreover, manual processes are prone to human errors, and improper information can deter customers from making timely payments. <\/p>\n\n\n\n

          When a sale is made, ZikZuk BFM allows your sales team to make invoice entries in <\/strong>tally on mobile<\/strong> <\/a>devices instantly, with no room for error.\u00a0<\/p>\n\n\n\n

            \n
          1. Corporate Lending<\/strong> <\/li>\n<\/ol>\n\n\n\n

            Borrowing money does not mean that the business is struggling. Business loans can be the smart way to push the business into the next stage of growth. However, a recent survey suggests that over 83% of SMEs lack access to business finance.   <\/p>\n\n\n\n

            ZikZuk, an SME neobank<\/strong> offers various credit options to businesses, including term loans, invoice discounting, working capital credit line, and more, which can help get that much-needed capital to boost their business. These are just a few ways ZikZuk helps in improving businesses. To know more about our services and their benefits, contact us today! <\/p>\n\n\n\n

            Source: Sage study “Domino Effect: The Impact of Late Payment” <\/p>\n","protected":false},"excerpt":{"rendered":"

            Financial management is a crucial part of running a small business. It aids in the monitoring and understanding of business profit, while determining whether the business has good cash flow. 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