For many business owners, the most important metric is the one right at the bottom of the balance sheet: net income. The question "Is my company making money?" is often followed by "How can it make more?" Clearly, there is no miracle formula for guaranteed profit (and if one does come along, you'll be sure to hear all about it) but there are proven tactics and strategies that can help.
Increasing profit can be a particular challenge for maturing companies; as they grow, they become less flexible as there are more moving parts to keep well oiled. An area in which we've found growing businesses need help is in managing team spend. One answer lies in better delegation; companies with smooth delegating processes make up to 33% more revenue than those where delegation is a problem.
So we've made it easier for SME owners to delegate. How? By making it easier for team managers to keep on top of their own teams' spending. This way, teams appreciate more autonomy, while everyday purchasing is approved faster and more efficiently. Freed of this burden, business owners have more time and focus to spend on strategy, attracting new customers and growing that all-important bottom line.