Financial Tech Tools to Grow your Business as a Woman Entrepreneur

 According to SBA (Small Business Administration) in the U.S.A, there are more than 61.3 million small businesses all over the country and a significant portion of these new businesses are women. 

Furthermore, if a small business is run and owned by a woman there are a plethora of tasks that need to be accomplished on a daily basis such as managing employees, checking emails, balancing books, and organizing projects. Additionally, the small business owner must understand the most effective financial tool to ensure business processes are running smoothly. 

The pandemic 2019 has presented a harsh reality check to business owners. However, many businesses are employing post-pandemic time for recovery and rebuilding their brand. No matter! Your business struggled and survived these uncertain times or you just entered the entrepreneur bandwagon, exceptional financial tech tools for flawless financial planning to keep small women business owners striving for unprecedented success and growth.

Fortunately, there are myriad financial tech tools available in this digital era that abets in solving small businesses' financial issues. Let’s explore the best financial tech tools for women entrepreneurs in taking their small businesses to a whole new next level!

QuickBooks 

QuickBooks is one of the leading accounting tools that has stood the testing time by proffering cost-effective solutions helping business owners manage and organize their business effectively. To add, this perfect platform has comprehensive business features and tools including tax filing, invoicing, bank statements, accounting, inventory, payroll, budgeting, account receivable, account payable, expense management, and employee payment processing. Moreover, QuickBooks proficiently eradicate the mundane tasks of the business as well as swiftly proffer results that business owners can look for and strategies for growth and success!

QuickBooks offers a wide range of functions such as a customized dashboard, customized archive of receipts, data reporting, etc. Initially, QuickBooks can be a complicated platform for non-tech women entrepreneurs but this ultimate powerful platform with versatility makes it a not-to-miss option for every business owner. 

Wave

Wave is a one-stop money management tool helping small business owners effectively combine accounting processes and simplify the experience. This comprehensive platform arrays of functions i.e. from payroll to payments. To add, wave provides streamlined banking and bookkeeping services tailor-made as per your business requirements. Additionally, the user-friendly dashboard gives a complete picture of business financial health and complete peace of mind for entrepreneurs. Not to mention, the wave also has an in-built one-click option where users can set up a consultation to strategize about related financial tools available to grow your business.

Mint

Mint is a renowned platform known for personal planning and budgeting. The platform is quite popular among small businesses as well as non-profit organizations. The one-stop platform has in-built easy-to-use functions such as bill negotiations and credit monitoring. Moreover, mint has a user-friendly interface that is easy to use by women small business owners without any hassle. Finding any information in mint instantly is never a complicated task.

To have a precise and correct view of business finances Mint is the best-fitted tool as it has integration with leading platforms and banking institutes. Furthermore, with mint you can check business financial health on the go; it is conveniently accessible on a tablet, laptop, and smartphone from anywhere in the world. If you think such quality services come at a cost; however, Mint is free of cost with add-on charges for detailed functions.

Gusto

Without a doubt, every business's success and failure significantly depend upon its employees. They are the most vital aspect of any business. Thus, it is essential to have perfect software that permits small businesswomen to effectively manage human resources (HR). Gusto is a leading software that handles myriad tasks such as payroll, accounting, hiring, and employee benefits. This all-in-one platform aims to streamline complex human resource functions by using an extensive algorithm. Additionally, Gusto summarizes the employees standing along with the productivity offered by them. Not to mention, Gusto membership starts at $39 (Three-tiered) and the fourth option permits the business owners to choose the functionality as per business requisites. 

Expensify

Having an exceptional well-designed expense report at convenience is bliss for business. Expensify is an outstanding app for a business owner to easily manage inventory, pay bills, and purchases. This all-in-one platform has API access which integrates accounting, travel, and HR documents to other platforms such as Gusto, offering in-depth tracking management. The platform is fully-secured so managing a bank account and credit card is safe with Expensify. To add, it also offers customized workflow access to employees. Moreover, based on usage Expensify charges the user starting at $5 however, its services start free of cost!

PlanGuru

Setting a financial goal, making better decisions, and accomplishing success help an organization achieve unparalleled success. PlanGuru is a comprehensive software helping small businesses, nonprofits, and entrepreneurs make informed decisions and handle every aspect of business strategically. PlanGuru can import important documents from various software such as Excel, Xero, Gusto, and QuickBooks along with being an active planning system. PlanGuru's outstanding feature includes forecasting the future financial impact for 10 years allowing business owners to make educated decisions. On top of that, the PlanGuru reporting tool easily combines all the imperative data into organized and streamlined documentation that aids businesses get a clear picture of what is working for the business and what is not. There are two options with PlanGuru: Desktop-based and Cloud-based with a $99/month pricing option.

Which One Is Best For Your Business? 

Before investing in any financial tech tool it is best to assess your business needs. Doing research is vital along with checking online reviews, opting for demos and trials, and asking people already using the software. As aforementioned many apps have free versions also however, choosing the paid version is best for your business in the long run, as the business scales up features to help make better decisions.

Lastly, the above-mentioned tools have their pros and cons but which tools you decide to use for business will surely help in increasing productivity, reducing mundane tasks, optimising workflows, and most importantly reducing stress. 

Running a successful corporation is not only about having adequate funds but also effectively managing finances. 

So, why not give these financial tools a try?