There is more data now than ever, and with it, there has been an unprecedented increase in the number of invoices, receipts, and overall money to track in the world! This is why there is a more urgent requirement now for bookkeeping software as well as for nuanced features that are particular to certain industries. Considering that entirely new industries themselves have emerged, owing to the massive technological growth that has happened in the last few decades, it should not be a surprise that there are various UK bookkeeping software companies that cater to specific industries.
If you’re not entirely sure whether you should use the UK bookkeeping software for your business, then this article should provide you with some clarity on the matter. Ultimately, there is no right decision here, and once you have gone through the facts, you will be able to make an informed decision that will serve your business needs in the near and far future.
- Service Industry
Since the mass adoption of software as a service (SaaS), there are now endless companies that are technically in the service industry even though they have a product. To add to this, there are more typical service companies – such as those in marketing or advertising like saas content marketing agencies – who could also benefit from having all their records in one place, especially considering the many problems that come with accounts receivables.
- Hospitality Industry
The hospitality industry has taken a massive hit recently due to the COVID pandemic that nearly brought the world to a halt and caused a lot of disruption to life around us. Looking at some of the features that the hospitality industry could incorporate to make lives easier for their customers, the first one is to make all their invoicing online to reduce touchpoints of interaction, and thereby decrease the risk of possibly spreading the virus. Thus, the hospitality industry could greatly benefit from online bookkeeping software.
- Manufacturing Industry
The manufacturing industry has always relied on a lot of different systems to make things happen – there are many moving parts, and to keep a track of each of them, there is software that needs to be used. While there are already many Enterprise Resource Planning systems (ERP) that need to be used to make sure that all the information flows at the right time to the right place, this industry could greatly benefit from the added flexibility and increased functionality that UK bookkeeping software can provide.
- Healthcare Industry
Healthcare has always been a tough industry in terms of tracking – whether it comes to notifying the insurance provider or contacting the family members of the sick individuals at a hospital, there is always a lot of information to account for at any given point in time. One of the features of the UK bookkeeping software is that it becomes very easy to track these details across thousands of people, and retrieving this information becomes just as simple and can happen with the click of a button.
- Music Industry
The music industry is currently undergoing rapid expansion at every moment. With online platforms like Spotify and Apple music opening up to a bevvy of performers – both at home and on the stage – there is no dearth of musicians. And each musician gets paid, whatever be the amount! This is why the music industry should leverage the power of the UK bookkeeping software to ensure that they can do justice to all their performers and to be able to keep accurate records of their payouts. In addition, the collaborative functionality in the UK bookkeeping software can help musicians split their payments among their band members as well, thereby helping not just the big platforms but also the independent musicians who put up the music on these platforms.
- The F&B industry
Food and beverages have always occupied a central place in the hearts of consumers. With the post-COVID landscape opening up a wide variety of possibilities about experimenting with “exotic” foods as well as other varieties, there is more demand now than ever for the best culinary experience possible. By using the capabilities of the UK bookkeeping software, the F&B industry can ensure that there is a wonderful experience provided to all customers – especially as more companies are going the direct-to-customer (D2C) route now.
There are many industries right now that can massively impact their speed of growth if they implement the right UK bookkeeping software. After all, it not only allows them to keep a track of their transaction and provides them greater insight into their cash flows, but it facilitates collaboration and ensures that all the data created is completely accurate and secure. If you’re interested in purchasing the UK bookkeeping software for your business, take a look at https://dext.com/uk.