Your Clients Favorite Business Apps Are Part of the Future of Advisory


Small businesses are about more than money. Their days are filled with people, product, social media, and sales. They’re trying to keep track of how many followers they have on Instagram, ordering stock, and finding a fast replacement when one of their staff needs to get a COVID-19 test. Your small business clients care about their financial numbers, too. Of course they do. Making money is part of the reason they run their business, but it's not the only reason. Success for a small business owner is more than just about a positive cash flow value and {insert financial value here}. Business apps help your clients run their businesses, and understanding how they work gives you an edge over the competition. The information these apps automatically generate is a real-time account your clients' daily business activities. Ultimately, this information tells your clients’ business story. This is what your clients do on a daily basis, the choices they make and how they are performing. Advisors need to understand their clients' stories, and be able to tell them what is on the horizon so to help clients have the best next chapter.

Understand how your small business clients use apps

To understand how your clients do business, you need to have a comprehensive understanding about how app technology plays into their everyday lives. Simply put, apps are key to their daily operations. The ability to automate core components of a small business via apps gives your clients have more time to work on growing their business and doing the things they care about. Here, we’ll briefly review some of the main categories of business apps your clients use every day.

Point of Sales Apps

A payment app ensures that your small business clients get paid, regardless as to whether they’re a freelance graphic designer or own a bar. Point of Sales apps link hardware like a cash register or a credit card reader with software that processes payments. They can also handle customer loyalty programmes, help with inventory management, and collect customer information.

People Apps

For many small businesses, managing their staff would be a full time job without the help of people apps. These smart tools make scheduling shifts, finding fast replacements, time sheets and staff communication simple. They also help small business owners accurately reconcile time worked with payment.

Social Media Apps

Many people automatically associate social media apps with distraction, but for many small businesses, these apps are their primary marketing tools. Sharing news about their business and attracting new customers through a strong social media strategy can spell success for a new venture (especially in hospitality or retail). These apps let your clients market to customers, but also helps them track customer behavior and learn about trends in the industry.

Financial Apps

These are the apps accountants and bookkeepers know best. There's a good chance you may have recommended a financial app like Xero to your clients. Managing money is one of the most important and complex components for a small business client, and even with the help of an advisor, they need instant access to their financial numbers. These apps also include payroll apps, and are the tools your clients need for invoicing, expenses, and more.

Good apps mean great information

You want your small business clients to succeed. You know that Xero gives you accurate financial data, which gives you the information you need to guide your clients. Just like Xero produces robust, accurate data, so do all the apps your clients use to run their business. In the background of their point of sales apps is information about what products are selling well and what products are their top income generators. People apps reflect who was working when a client saw a spike in sales. Social media and analytics apps produce data about website visits, customer habits and trends. Because these numbers are based on your clients everyday business activities, they accurately reflect what is happening in your clients’ businesses.

How this makes you a better advisor

Going from bookkeeping or accounting to true advisory requires more than just understanding your clients' financial data. Advisory requires you understand the big picture of each of your client's businesses. Small business owners need advice that makes sense for their unique situation. While a client's financial numbers in Xero can tell you that there is a cashflow issue, unless you have an understanding of what's happening in the client's business, you won't know the why. Advisory requires understanding that why and guiding your clients from that place of knowledge. All that information that your clients' apps are generating is the key to being able to get a full view of your clients' businesses. When you understand the data generated in the background of your clients' daily work, you can advise from a place of knowledge that truly helps your clients survive and then thrive. Accessing that data and information is easy when you use an engagement platform like the Aider Advisory Intelligence Portal. This tool brings all your clients' data and information from their various apps together in one central platform. You can easily and thoroughly keep track of your entire client base and get a full picture of their business without putting in intense amounts of time or sifting through countless emails. The Aider Advisory Intelligence Portal gives you a quick view of who needs extra attention, and (you guessed it) why. We've been talking about how important business apps are for your clients. Well, the truth is that your clients need one more app to get the most out of all the business apps they're already using. Connect them with the Aider Client App for free, and it securely pulls together all the data and information from their daily app-based business activities. Instead of presenting them a wall of numbers, your clients use the Aider App like a digital assistant who knows all the answers to their pressing business questions.

They simply ask (via text message or voice assistant) a query, such as "what was my revenue last week?" and Aider gives an accurate answer. Aider App makes their business lives easier. Most importantly, you also get access to all the data from their apps with the Aider Advisory Intelligence Portal.