Knowledge is power, the saying goes; and data is just another kind of knowledge. That makes keeping track of data important for businesses of all sizes and types.
To help with the problem, Barclays bank has developed a new tool for small and medium businesses to track and view all of their banking data and business information in one place, in real-time. It is available now, for free, to all of the bank's estimated half a million business customers.
Barclays worked with third party app providers, including Office 365, SageOne and Google Analytics, to build SmartBusiness Dashboard. Information from these providers can be imported and viewed on a single site.
As well as imports, businesses can use Dashboard's APIs to download new services from various providers. These include analytics, workforce management and bookkeeping.
Ian Rand, CEO for Barclays Business Banking, said that the new tool would boost productivity while also helping SMBs to manage their cashflow, compare data and make other internal improvements to their services.
"Busy business owners shouldn't have to spend time sorting through different spreadsheets, reports or switching between apps - we've created a tool to give businesses time back - and this is an efficient way to run and grow their business," he said.
The early response to Barclays' new tool has been positive. James Gage, founder of Natural Tile, a Norfolk-based SMB, said: "I'm able to see all my business data in one place, including accounting and website traffic, alongside my bank information. Not only does this give me a better picture of my business performance and help me to manage my cashflow…it also frees up my time to focus on running the business. I used to spend 20 minutes reviewing my business data and finances each morning - it now takes five seconds."
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