Small businesses can still compete with large organisations

25th July 2017

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Whether it be in retail, manufacturing or construction, one truism has always held firm; it's difficult to compete with companies that have more capital and a larger market share than yours.

But the big brand looming over your small business isn't impossible to topple. Smaller organisations have more resources than ever to gain firm footing in their industry and build positive year-on-year sales and revenue. The key is utilising the advantages you have in the right ways.

Streamlining operations

While large companies have the financial resources to attract large clients and hire away quality candidates from competitors, the sheer size of their organisations coupled with the volume of work being done can hinder their internal operational agility.

Small businesses have the ability to make quick decisions and act on them just as fast - whether it be a rush order for a new client, or transformational improvements to the company itself. This type of flexibility is harnessed through improving internally with digital upgrades that streamline back-end functions, but makes its impact felt on the warehouse floor.

Digitising key back-end functions like accounting and inventory management can provide an advantage.Digitising key back-end functions like accounting and inventory management can provide an advantage.

The key to it all is investing in a single digital infrastructure that can interconnect previously incommunicable parts of operation - such as inventory with bookkeeping.

Making an impact today

Large companies have an inherent issue; everything is covered in red tape. Whether it be a new product rollout or simply meeting a client's request, there are multiple layers of approval that small businesses don't have to go through.

Take advantage of the absence of red tape by streamlining operations.

By integrating the right small business management software that can break silos by removing the need for manual data entry, organisations can gain an advantage over their more well-known counterparts. Inventory levels, for example, should feed directly into an accounting module that automatically maintains the books. This allows management to focus on gaining market share, improving the marketing message and create more availability for clients.

The key is in an inclusive platform. Having the time sheets on one application and the accounting on another doesn't help improve organisational agility; the staff members responsible for handling the respective tasks will have to log in and out of programs constantly to get the right information.

While your company may not have the capital for national branding campaigns, it can improve its customer service by maintaining a detail-oriented, quick-response operation through streamlining back-end functions. Contact an Advanced Business Manager representative today for more information.