Go digital: benefits of fintech for small businesses.
Discover how fintech is making financial systems more efficient for small businesses and some ways you can leverage it in your own business.
Short for financial technology, fintech is helping change the way small businesses operate. One of the biggest impacts this technology has is helping to minimize cash flow challenges many entrepreneurs or small business owners face. Let’s explore some examples of fintech and how you can put it to work for yourself.
Make the most of fintech in your business.
While fintech has been around for a while (think ATMs, wire transfers), it’s a sector that continues to evolve quickly to meet the needs of business owners and consumers alike. Here are some ways you may be able to use it to help your business grow, scale up, and thrive.
- Small business loans. If your business is new, it can be difficult to secure traditional funding without certain documents like tax returns or credit scores. Fintech lenders help solve this by assessing your creditworthiness with AI analysis of multiple data points.
- More ways to pay. Fintech helps keep the cash flowing by allowing your customers to pay in myriad ways — whether it’s through an online platform such as Shopify, card readers like Square, or digital transfers from banking accounts.
- Account management. Accounting platforms have historically been expensive and out of reach for many small business owners. With fintech solutions, you can now manage payroll, pay loans, keep track of your business expenses and taxes, and more. The ability to send and accept e-signatures keeps these documents moving, and may also save a trip to the bank.
- Invoice from anywhere, anytime. Long gone are the days of sending paper invoices and waiting weeks (or months) for a check. With digital invoicing, you can simply add your signature, send from anywhere, and receive payment almost instantly. Plus, it extends that flexibility to your customers as well.
Whether you’re a fintech fan or just exploring options, there are many ways you can use the technology to improve cash flow, automate processes, and better serve your customers. For even more digital solutions, take a moment to discover everything that’s possible with Adobe Acrobat Sign.