Finance Tech Shares New Year’s Resolutions for New Business Owners

Starting a business is no easy feat, but its rewards can be fulfilling. A new year is a perfect opportunity for new ventures but if you are looking to start your own business or improve your operations as a business owner, one of the most basic things you have to master is to manage your finances better. Tracking money allows you to plan better and gives you full visibility of your profits in real time.

As the New Year rolls in, Lista PH, a new financial tool for micro, small and medium enterprises (MSMEs), aims to be a partner of more new business owners in growing their business. Here are some tips from Lista PH on business improvements you can do in the coming year.

Digitize your processes
With the increased digitalization push due to the pandemic, business need to adapt to the changing environment to remain competitive. Through various accessible digital tools, migrating processes online can also lessen errors and overall make your daily operations smoother. Whether it is in creating a digital logbook, adding online customer service channels or offering more digital payment options, do not be afraid to look for worthwhile investments that can help your business thrive.

Keep track of your expenses and income efficiently
A lot of businesses, especially those micro and small enterprises, still list transactions manually, which can lessen accuracy and efficiency. Keeping track of money is already a hassle, but Lista PH’s easy tracking feature can help save you from confusion and long nights computing and figuring out your profits. Whether you’re a business owner or just someone who’s trying to save up for their future, Lista PH’s monitoring feature will help you so that you can see your income in real-time.

Get rid of hiya when it comes to debts
Any aspect of debt is challenging, from borrowing the money, to keep track of the money borrowed, to trying to get back the money loaned. The Filipino hiya culture can also be a challenge to overcome when it comes to collecting debt. This is the idea behind Lista PH’s SMS feature, which automatically sends texts to remind debts through the app. No need to rely on the traditional pa-lista and paniningil which sometimes leads to misunderstanding and uncollected debts.

Start organizing your finance records
Keeping detailed records of your transactions allows you to have an overview of your financial state, helping you manage your cash flow and spot potential challenges ahead. One way to properly keep track of records as well as amounts due from clients is through proper invoices. However, new freelancers may not have the right knowledge on proper invoice creation and documentation, leading us to Lista PH’s invoice feature. Through this feature, freelancers can generate a professional-looking invoice directly through the app that is ready for billing to their clients.

MSMEs are the backbone of our economy, and it is important to help these enterprises thrive with the right tools and knowledge. We may not know what is ahead this 2022, but one thing we can be sure of is that with Lista PH, keeping track of all your finances is one less thing you can worry about. Spend less time worrying about your income and more time earning it with its numerous features that will help keep track of your finances easily and efficiently.