Running a small business can be unnerving and tiring; it takes a lot of hard work and dedication. But equipped with the right tools, you can manage your business with ease.
A bulk of business management is financial management, from daily tracking of sales and expenses transactions to creating, sending and creating invoices, tracking inventory and managing a budget in your business; you get the idea, it's time-consuming.
There are a lot of financial management tools out there for business owners to use, but only a few are equipped with the resources you need to optimise your business. After some research, we concluded that there are two market favourites for many small businesses: MS-Excel and Kippa.
With this article, we will walk you through a very detailed comparison between both products, and then you will decide for yourself which is better for your business.
Manage your money—with ease
Microsoft Excel was an introduction to bookkeeping and accounting using technology. The Long tables and formulas made calculation a breeze and rendered paper no longer required.
MS Excel made it easy for small businesses to manage financial records with a computer over using hefty bookkeeping ledgers for things like balance sheets, cashbooks, etc. But here is the thing, MS Excel was not made solely for financial management.
Although it has a plugin called money, it can't do much for you, especially as a Nigerian, as the plugging fully supports US financial institutions only, making it hard for you to track your sales and income payments made into your bank account.
On the other hand, the Kippa app worked so hard to create features that allow you to get paid quickly and easily. How? Currently, Kippa payments provide your business with a bank account without a hassle to track all income transactions your business gets; you get a secure business bank account to track all business incomes and spending.
Keep track of your sales and expenses.
With the Kippa app, we have made an effort to provide a cashbook for your business; you have this feature to record every sale you make and every expense transaction. An inventory also allows the ease of tracking your product stock and inventory as often as you want.
This is to make it easy for you to ascertain your financial position without any problems whatsoever.
It opens your eyes to how much your business earns from sales and spends on operating expenses, and it gives you a clear picture of what products sell and what products don't.
On the other hand, Excel doesn't have the resources to do all these for your business; it's a software created for data analysis. So, it doesn't have to facilities or capacity to track the products your business sells the most of, nor even though it can in some way provide details on what you earn and spend, it still has to be done manually, which can be one of the most tedious things to do combined with every other part of running a business.
Sending Invoices to customers
Isn't it super convenient to have proof that a sale actually took place? That's what an invoice does for your business. It's a time-stamped document that reminds your customers to pay you; Kippa has made it so easy that you can create your invoice in your app, share it with your customers, and everything reflects in your product inventory.
With Kippa, everything you need to manage your business is in sync, unlike with Ms-Excel, which doesn't even have an invoice generator.
A mobile business tool that suits your business needs
The final argument for closing this case forever is mobility and affordability. The average Nigerian small business owner will not opt to pay for an app that only does a fraction of what they need to manage their business properly. Especially when it only works most efficiently on a PC and not a mobile phone, the majority prefer.
The Kippa app is free, easy to use and accessible on your mobile device. So run your business with ease. A crucial part of what the Kippa app does for your business is analyzing financial reports to help you make better business decisions; help you understand cash flow. And overall, it gives you insights that reveal the bigger picture of how your business progresses.
All the tools you need to start/run/ grow your business, your go-to bookkeeping, accounting and business bank app; Kippa gives your business a way to measure your overall performance. It also provides information to make decisions related to your business and helps you ascertain your revenue and income.