You’d save money and time with business automation. A functional business automation process allows you to automate contracts, invoices, proposals, taxes, and CRM.
Since your business is your passion, sometimes the paperwork related to some business functions tends to derail the best you can do. Below are some business functions that you can automate and turn around the performance of a business for the better.
Business Automation Process
Your business may send contracts to your clients to secure new work. When you want your contracts to convert as much as possible, you need to be honest with your clients. You need to highlight the benefits and values you will provide to your clients, your responsibility and that of your client, and the contract’s termination if necessary.
To make these contracts legally binding, you, of course, need signatory work. Since business space has been modernized, you often find yourself required to sign such contracts online. With a functional business automation process, you can sign online and enable your clients to sign virtual contracts as well.
You must ensure your safety, and that of your client in a contract signed online. Bonsai is such a platform that enables you and your client to sign contracts virtually and make them legally binding.
Signatory works of contracts will make your business even more professional and increase the likelihood of your clients approving contracts. On approval of such contracts, Bonsai also enables you to receive deposits from approved contracts.
If there’s something that is integrated with almost every business function has to be an invoice. You often use invoices to collect payment from your buyers. For a good receivables turnover ratio, sending invoices is your business’s weapon.
A business that does not send effective invoices to customers will often suffer from delayed payments. This is why you need to understand how to structure your invoice, so they are cultivating enough to motivate your buyers to pay you sooner.
Technology has made businesses reach customers far and wide. It’s often to find a small-scale business serving customers within its vicinity and overseas.
So could be your business, and managing invoices for such a diverse customer base can overwhelm you. Let’s be honest; you need a solution that can help you automate the process of creating invoices, sending them to your buyers, and even reminding them if they default to pay on time.
There are many automated tools you can choose from. The suitability of these tools is relative to their cost, features available for your business, and whether or not they support instant payouts. The solution you choose should also support the flexibility of your preferred payment option like Bonsai business automation process does.
Your desire to increase the customer base prompts you to send proposals to potential customers. Sending these proposals can earn a new customer for your business if well done. If your proposal looks professional enough to potential customers, you can bet they will convert in the future.
Of course, your client will look at your proposal and try to project the ease of working with you. It would be best to show the value you are adding to your client’s lives in a proposal. This is possible by highlighting the packages you will offer if the client accepts your proposal.
Your business may send multiple proposals. If you were to draft and manage this proposal through manual paperwork, the success rate of your business proposals to convert might be low.
Your business will likely maintain some proposals as drafts, others as sent, and others as accepted. To maintain a proper workflow of the status of your proposals, Bonsai would be perfect for you. The platform offers responsive proposals management dashboard to streamline proposals workflow for your business.
There is no legitimate business that operates in a vacuum. The tax system is one of the most critical external factors your business must comply with for longevity. Understanding taxation is not, however, a walk in the park. At times it gets complex to understand the taxes a business should pay, common deductions you can take advantage of, among other tax considerations in business.
As an owner of a small business, you probably don’t have a tax expert to help you. Understanding the tax liability in your sole proprietorship business can be daunting. Since you want to comply with the tax system professionally, you need to know how to calculate your self-employment tax.
In the modern world where information is widely available, platforms like Bonsai get you in control of your tax obligations. Using their online tax automation tools, you can estimate payable taxes, track taxes paid, and stay up to date on the upcoming tax deadlines.
As a freelancer in a modern digitalized business environment, being aware of your tax obligations, possible tax deductions, and tax savings is a determinant success factor for your business.
Your business needs responsive client relationship management. A committed CRM helps your business to stay organized in every project and collaboration with other business partners.
For effective CRM, establish a centralized system where you can manage clients, document your projects, manage project tasks, and keep proper track of payments.
Furthermore, you need to establish a centralized system to invite contractors to collaborate with you. Such a centralized system would let you picture every client aspect under one dashboard of your business management.
If you want to establish a committed centralized CRM, you can use the one offered by Bonsai. This one is as responsive and adaptive to your business needs, dependent on the size and nature of your operations.