A Trackeet advisor is an expert who is paid to offer his/her knowledge and expertise about the Trackeet solution to third parties. Trackeet advisors possess a wide knowledge of software programs and computer language. These professionals usually come from an information technology background, sometimes moving into consulting after working closely with diverse business units.
Trackeet advisors often provide the necessary expertise to help businesses make important decisions about their digital, market and online presence. Since software choices often impact ecommerce, Trackeet hire advisors to protect their investments and increase sales.
The paragraphs below shows the impact of a Trackeet Advisor on a business
Mrs. Bassey is the CEO of Bassey Perfumery, and she has requested the services of a Trackeet advisor (Mr. Frank). She is out of the country, but she has two employees who work in her shop. The employees are responsible for sales and receiving payments. They receive payments through Transfer and POS. Cash payment is unavailable as they have no means of getting it to Mrs. Bassey. This payment process is ended with either of the attendants writing an invoice using a paper receipt. There is also no proper documentation of change and credit sales. They give reports on calls at the end of the day and transfer money received using their accounts to Mrs. Bassey. The employees also take stock counts every morning.
Mr. Frank looks to improve this by implementing Trackeet. First, he sets up a Trackeet account for Bassey Perfumery. He then goes on to on-board the business by adding stock items (setting cost and selling prices) and customers. With the items available on the account, he trains the attendants to perform sales to the customers he had added as well as create new ones and generate a bill/ invoice using Trackeet. Using the credit sale and change feature the attendants generate an invoice which reflects amount paid and balance that is given to the debtor/creditor and recorded on the account for reference and record purposes, as this will enable him to track each customers transaction records separately. This invoice creates a sense of transparency for the customers.
The daily store count by the employees is also replaced with the Trackeet inventory module which provides real time information on stock balance.
Mr. Frank advice Mrs. Bassey on which items to give more attention based on sales data and encourages cash payment by introducing Trackeet wallet. Either of the attendants deposits the previous day’s cash as well as accepts transfers into the account provided by the wallet, with this Mrs. Bassey can simply cash out to her bank account.
Mrs. Bassey is also informed about the stock items running low as displayed on The Trackeet account. Mrs. Bassey has now gone from spending hours on call with the employees every day to simply signing into the business account set up by Mr. Frank and access sales record (credit and debit), view new and existing customers’ records, access payment modes and discounts under reports module and view new expenses and cost of items sold.
Mr. Frank in turn exports account statements at the end of the day by navigating the days’ date and opening and closing times. As a result of this new process and training the employees became more professional while attending to new and existing customers.
Trackeet advisors can help small business owners strategize and plan for the future. For example, an advisor might suggest steps to take in order to expand the company through expansion or merger. Or, they could provide advice on improving profit margins based on industry benchmarks and Stocks.
An article by Kittle Meier (2004) suggests that most small businesses fail due to poor business planning, not because there is an absence of ideas. Instead, the author states that entrepreneurs “should avoid trying to do it all themselves and/or ignoring the advice of consultants”. Instead, they should embrace outside sources that can help provide needed expertise.
A Trackeet advisor may suggest ideas about how best to use funds to ensure that the company remains competitive – Trackeet offers features that track external income and expenses.
The right advice early on could save the entrepreneur years of future mistakes. This is especially important for new businesses that may not have the knowledge to make informed decisions about their company. Therefore, hiring a business advisor early on could be the best decision a small business owner makes.
A Trackeet advisor can also offer guidance on becoming profitable. They will ensure that the company is set up to be as successful as possible and has the tools needed to run a profitable business, such as an efficient production process and accurate record-keeping.
You may think you have these areas covered, but I bet the failed businesses did too. If we look at the statistics, the business closure rate in Australia is quite alarming. For example, the Australian Bureau of Statistics found that more than 60% of small businesses shut down within the first three years. Moreover, a 2019 study commissioned by H&R Block cited the biggest struggles Australian small businesses face: cash flow, marketing effectiveness, lack of support, and hiring the right people.
Trackeet advisors can help in each of these areas, providing business strategies and plans to give you a leg up on your competition and a better chance of avoiding failure.
In addition to providing guidance on how to make the most out of business finances, Trackeet advisors can also provide suggestions about cost-cutting measures. For example, a restaurant owner might reduce the number of waiters in a section of the restaurant to cut overall costs. Business advisors can help with marketing and sales efforts and develop a company brand
- Business advisors, such as Trackeet advisors, can also provide guidance on how to increase sales. For example, they may suggest creating a ten-step marketing plan with goals for increasing sales. They might also recommend the best ways to use online advertising and optimise website content.
- Advisors can also help develop branding strategies or improve existing ones. Businesses that don’t have a brand may want to start one; those with established brands may require help updating them. For example, an advisor might recommend changing the logo’s colour to increase sales or adding a keyword to the company name to rank higher in online searches.
- As well as providing guidance on marketing and branding, advisors can also provide guidance and resources for improving sales. For example, they might work with a clothing store owner to create a marketing strategy to increase summer fashion sales. They might also suggest an advertising campaign that targets customers between Christmas Day and New Year’s Eve.
- They can also provide support in areas such as human resources, operations, and technology.
- Business advisors, such as Trackeet advisors, can also provide support in many other areas. For example, they may suggest hiring a human resources manager to handle the company’s human resources department or creating new operations manual to better manage how employees work and communicate. They might even suggest implementing employee performance reviews and employee of the month programs.
- In addition, advisors can assist with technology. For example, a company might need help updating its accounting software to a cloud-based system or upgrading its website. Trackeet has a team on hand to manage all areas of accounting and bookkeeping, including seamless integration to new accounting solutions. Additionally, an advisor is likely to have a good relationship with a reputable website designer and recommend them as the best choice for the small business owner.
- By working with an advisor, small business owners can gain access to valuable resources and expertise they may not have otherwise
- Business owners may not have access to a full-time expert in all areas of business management, such as accountancy and marketing. And while they could hire someone to do this for them, it would cost thousands of dollars each month. Hiring an advisor allows business owners to get the support they need without hiring extra staff.
- Business advisors also have invaluable resources to help Gold Coast businesses like yours succeed. They include financial tools, marketing resources and technology, and access to a team of qualified professionals in areas such as finance. In addition, they also offer many benefits that can’t be found elsewhere, including unlimited email and telephone support from all the advisors on staff – something not typically seen in the industry.
- A business advisor may also have an extensive background in a specific industry, which can be helpful when putting together a marketing plan. They may also have a better understanding of maximising profits and minimising expenses. For example, a business advisor will know what the most successful companies in an industry are doing that makes them so profitable. This information can help small businesses learn from their peers’ mistakes and become more successful.
- With all these benefits, business owners will find that working with a Trackeet advisor can help drive success and growth, making it easier to reach bigger goals and achieve more than before.
A small business owner who has just entered the market must have a sound understanding of this question - what is a business advisor. It can turn beneficial in establishing his organization and getting him the necessary tips required to run the business. According to available information, a business advisor is a wise strategist who works for the entrepreneur’s company and helps him in multiple departments - business planning, marketing, finances and even business development. He is an expert professional who knows all the streams that are related to business.
It would be very right to say that a business advisor helps entrepreneurs to make their business successful by providing necessary inputs regarding effective strategies and business solutions. He has a sound knowledge of the on-going market trends with his research and uses customer reviews to develop useful and highly effective business strategies. Furthermore, these strategies can play a great role in achieving organisational goals. He assists the companies by stimulating their long-term growth.
A business advisor can be classified into two types. These are -
An internal business advisor works with your organization for a longer period and is an integral part of your organization. These professionals are known to have a stable salary every month and are usually more preferable by the business owners. The reason why these advisors are preferred is they already know a lot about your company as they are involved in almost all the projects.
It means an internal business advisor already accumulated a lot of information about the organization and its work which is essential for making accurate and trustworthy judgments. Also, any department within your company can utilize the advice of this business consultant as needed and might not have to wait for a long time. This proves useful for the business owner and even the organization.
On the other hand, external business advisors are considered to be a good option for start-ups and even for small businesses as they are a cost-effective option. These professionals are usually employed temporarily by employers. They offer their business expertise for a fixed package which is for a limited number of days.
An external business advisor can be hired from external organisations that have numerous professionals in this role. These advisors are known to handle multiple clients at once which make them one of the busiest professionals with a tight schedule as compared to an internal business advisor.
However, the plus point of hiring an external business consultant is these professionals have experience working for multiple businesses. It can turn out to be a boon for a small business owner as they already have vast knowledge from their previous experiences which can be a plus point for your company.
Apart from these, the other classification for these professionals for small businesses can be stated as -
In order to be a successful business advisor, one must have a variety of skills. This study provides definitions for twelve of those skills, including: critical thinking, active listening, problem solving, decision making, emotional intelligence, and more. With these skills, a business advisor can help their clients overcome challenges, make better decisions, and achieve their goals.
The Consulting Skill for Business Advisors is a skill that allows you to advise businesses on how to improve their operations and grow their businesses. This skill is important because it allows you to help businesses achieve their goals and improve their bottom line.
Many businesses fail every year due to poor management and simply not picking up on the problems quickly enough. Business advisors can be brought in to support those overworked entrepreneurs and help them reach their professional goals. These experts could be the difference between a thriving business and a failing one on the brink of closure. They have the knowledge and expertise to identify the areas which need improvement and advice on the appropriate steps to fix them.
Business advisors specialise in the core aspects of business, including marketing, finance, compliance, human resources and even the day to day management of your company. Knowing which consultant is the best fit for your company can take a bit of time, but with some thorough research and time spent talking, you could have someone by your side to take your company to the next level.
Without a business advisor, many companies would find themselves being left behind by the competition. Entrepreneurs are bound to make ill-informed decisions at some point in their business journey and miss out on opportunities that would have benefited their company's future. This is why entrepreneurs need to understand what a business advisor can do to support their goals and vision for their business.
It is clear from the above information given in this study that a business advisor is a crucial asset for your organization. Hence, a business owner must have him in the company for better reach of his business. If you are a small business owner or an entrepreneur who is just stepping into the market, it is natural that you have very less knowledge of what points to check for while recruiting a business advisor. Here are a few key points that an industrialist must ensure while hiring a business advisor for his company -
Trackeet is a popular on premise and cloud-based accounting solution designed specifically for small and medium-sized business owners. It is a fast-rising accounting software for businesses in diverse sectors.
The package has plenty of features – invoicing, expense tracking, date and time tracking, a host of business reports, even an option to take credit payments – but a straightforward interface aimed at non-accountants ensures you'll be up-and running right away.
Despite the simplicity, there's real depth here. You can bill in any currency, save time by offering a hold item feature that allows optimal attention to multiple costumers at once, allow customers to pay via credit card by checking a box, and even automatically bill their credit card to keep life simple for everyone.
If you need more power, the system integrates many modules like: Inventory management, Purchase invoice management, Sales invoicing, Profit and Loss statement, Ready to export account and expedition statement on daily, weekly and monthly basis and many more.
Management hassles are kept to a minimum. You're able to access and use the system from your desktop or its free iOS and Android apps, and because it's a cloud based system there's no need to worry about backups.
It is a key feature on the Trackeet software designed for businesses that engage in retail or customer-facing operations. It provides a seamless and efficient way to process sales transactions, manage customer details, and integrate sales data with the Trackeet system.
Users can generate a wide range of financial reports, sales and payment reports, money report and custom reports tailored to their specific needs. These reports provide deep insights into financial performance, help identify trends and support strategic decision-making.
Users can create and manage customer profiles, including contact information, purchase history and preferences.
This should be a given but it’s so important that it’s worth double-checking. Trackeet by definition handles financial data. It may also handle other people’s personal data, for example, contact details for invoicing. Security is therefore non-negotiable.
In managing the finances of SMEs, Trackeet is used much more by administrative staff than by accountants. With smaller SMEs, these staffs may not even be financial specialists.
With the Trackeet solution, this shouldn’t be a problem. Your regular admin person or team, in-house or freelance, can handle everyday bookkeeping. Your accountant can spot-check or supervise as appropriate and provide more in-depth analysis.
Other than the modules/features mentioned under financial capabilities (see fig 3.2.1), Trackeet offers a wallet module that allows users to receive and send money on their business accounts. Once you enable your wallet on Trackeet, you can begin to receive money using an app generated account number which will bear your company’s name as the account name. This ensures transparency and credibility for your business.
On receiving payments, the cash out feature enables you to withdraw money at any time to your real life account which you must have added under bank settings.
Other features like sending cash requests, transferring cash, recharging airtime and data subscriptions are all available under Trackeet wallet
Trackeet offers a feature that allows users to record and set schedules for later dates. For instance, a user can simply record a service set for a particular date- this will serve as reminder.
In this day and age, countless numbers of startups are emerging. Some do exceptionally well, giving a hard time to already existing and well-established ones. They are taking their businesses to the next level by adopting technologies and software solutions. Their performance, management skills, products and services, customer support, everything is seamless and top-notch. Seeing their progress, many business owners have walked the same path.
Do you think you can compete with them or surpass them with no software solution? Even if you have the confidence to do so, can you handle all the business processes effectively and efficiently manually?
There is too much to look out for and manage in a business, like a workforce management, finance, sales, customer support, and the list goes on. Can you carry out all day-to-day operations and other obligations, like meetings, seminars, etc., while managing the above aspects? If you can, then for how long
There will come a time when these will become too much to handle. Your productivity slow down, managing your increasing workforce will become a challenge, customer satisfaction will decrease, etc. More than anything, you will strain yourself by supervising everything. So, if you are passionate about your business, want to manage it more efficiently, and desire it to grow tremendously, then the best solution is to hire a development partner, like Trackeet, to develop a process.
Trackeet makes the business journey much easier and takes it to the next level. So, in this study, you will learn about the several ways software solutions help a business grow.
No matter what business you are running, you have your own business process and protocols to be followed by everyone. However, it really gets challenging when you need to on-board everyone and brings them on the same page. You need to convey the same message every time. You must finish recurring tasks every day.
Why engage in such activities if you can automate them? If you can save your time and effort with Trackeet, then it is best to do so. This way, you can simplify most of the processes and run the business more efficiently.
Increasing employee is one thing and managing them is another. You can hire the right employees, but on boarding and supervising them becomes challenging. You must delegate roles and responsibilities, track their performance, guide them, etc. With the right software, you can do all this effectively.
Moreover, Trackeet helps employees to carry out their day-to-day tasks efficiently. They will be able to perform at a more satisfactory level and achieve the business’s goals and objectives. They will be able to do tasks in a short time with more confidence.
You are stuck doing the same tasks repeatedly. If you can save time automating them, then why not? If you can manage your project using project management software, then why not use it? If you can automate boring tasks, like generating invoices, then why not?
Trackeet gives you ample opportunities to boost your business processes in less time and more effectively.
Moreover, you hire experts to enhance your project and processes. But, with the help of software, you can easily manage your project, employees, day-to-day operations, etc. Rather than spending much on professionals, you can easily supervise everything yourself. You may still need to hire people, but not as many as you need before.
89% of customers switch to businesses that offer better user experience and engagement.
93% of customers buy from a brand repeatedly that offers better customer service.
1/3 of customers switch brands because of poor customer service.
Poor customer service is the reason many businesses cannot survive the fierce competition and shut down. If a customer has an issue but had to wait for hours before connecting to the business or an employee, then they would get frustrated. There is a limit to how much they can be patient. So, they switch to a business offering better service.
Now, customers don’t have to wait too much before connecting to a support team. With the help feature, they can easily get the information they want and communicate easily. Trackeet helps provide and enhance better customer service.
By this point, you already know how Trackeet enhances business performance, and processes, and helps manage everything needed for a business to grow. Not only does it help a business sustain itself in the market, but it also helps to gain a competitive advantage.
Thanks to Trackeet, you are providing quality products and customer services. This helps you to build an excellent reputation and image in the market. More and more people will get to know your business and want to buy your products. As a result, the number of customers you have will skyrocket, giving a boost in brand value. Moreover, you will be able to fulfil users’ needs and solve their problems, which your competitors can’t. And this gives you a competitive gain.
There is no way of knowing the number of customers, their behaviours, preferences, employee performance, etc., unless you have the software to track such activities. Manually tracking them is impossible. When you have access to analytics, it becomes your biggest weapon to grow your business. You will have information about your employees, customers, and competitors. Then identifying weaknesses and strengths becomes much easier, which will, eventually, help you devise plans to make everything right and be an unstoppable force in the market. So, everything starts with having custom software and using it for the best.