As the digital age has come into full swing since 2020, we’ve seen businesses relying heavily on technology like never before. As they do say, pressure makes diamonds and now that we’ve gotten to a point where technology has been evolving so fast, you can’t really put your business in a position where you aren’t hooping along with the bandwagon, as you could just as easily be left behind.
So to make sure you are remaining competitive in the business world, we have put together 5 of the best fintech apps that you can consider to make managing your money that much easier.
How Exactly Does Fintech Apps Help My Business?
Smart Funding Alternatives
If you are a new business in the game or are thinking about starting your own research, suggest that at least 50% of all businesses need additional funds to help them get through at some point. Fintech has been there to help both start-ups and small businesses with quick and easy loan applications.
They offer a solution for small businesses when they are in need and in today’s climate, this is a great option of support that just isn’t given by banks and other loan companies.
Smart Accounting
You will be surprised at how many businesses still keep records on paper and haven’t transferred them digitally. Whether it’s because they don’t know where to start or because they are intimidated by the options, almost 50% of small businesses don’t have the means to work with an accountant.
These two factors are extremely important, not only to have all your information online in case to help keep a proper record of things but also to have a second opinion from a specialist. A fintech service would be able to manage a lot of the time-consuming day-to-day such as payroll, invoices, expenses and cash flow forecasts that can be time-consuming.
4 Fintech Apps To Help You Manage Money
Mint
This app is perfect for budgeting and cash flow management; it helps you keep track of all the revenue you are bringing in and all the expenses going out. You can create personalised budget plans and help monitor any changes in bills; this could help you flag anything that doesn’t seem right. This way, you can easily spot mistakes or focus on areas where you might need to trim the fat.
Sometimes seeing things on a screen can be much easier than sifting through documents. This will help with creating strategies to increase revenue in the future.
Money Lion
A mobile app that allows you to see exactly how much you are spending daily but at the same time gives you information and support on your finances. This can be reassuring and helpful in making the best decisions with your money.
It’s a two-in-one where they can help with budgeting; they also double up as an investing platform and you can set investing limits on a weekly or monthly basis.
Betterment
This is a robo-adviser that provides an automated investment management system. Essentially, this means it creates a diverse portfolio of investments based on your risk tolerance and financial goals. This is a great option if you want to branch out, increase your revenue or just have a go at investing as an entrepreneur. It can’t hurt to have a robo-advisor as support when you are broadening your financial gain opportunities.
Stripe
A payment processing platform that enables any type of business to accept credit card, debit card, and ACH payments online. As a result, if you run an e-commerce business, you would benefit greatly from an app like Stripe.
They also provide several features to help you manage your finances, such as fraud protection and invoicing. Fraud prevention is critical for any size business, particularly in terms of finances. This is an excellent way to stay safe online. As you can imagine, some businesses are hesitant to go digital. However, this is extremely reassuring for businesses because transitioning digitally protects them from forex scams.
Final Thoughts
When it all boils down to what businesses need, a fintech app can go a long way and is another great way to save money on essentials such as accountants and budgeting. But it is also another way to stay safe and secure from things like broker scams and any loss of funds. We would recommend you find the right ones for your business type and we wish you luck with the next financial year.
