The business world is undergoing two significant transformations.
A negative force pulls in one direction, and an opposing, positive force in the other.
There's a sweet spot in the middle where the winning business will play.
Like a powerful storm, inflation is eroding the profitability of small businesses, making it essential to become more efficient.
Driven by inflation, business competition is at its highest levels.
More businesses are failing, which you can see in the yellow.
Because more people need more money, more people are starting businesses than ever before.
The net effect of this is competition which you see there in red.
If you do nothing, competition will make your life harder.
If you adapt, innovation and efficiency can make your life significantly easier.
Inflation-driven competition means the winning businesses will need to be the most efficient.
They will need to improvise, adapt and overcome.
The winners will be those who can harness the power new processes, tools and technology, including AI, to combat the challenges posed by inflation, becoming more efficient and staying ahead of the competition.
Those who fail to adapt and leverage innovation fall victim to inefficiency, shrinking profitability and increased competition.
Imagine a world where your small business isn't just surviving but thriving.
A world where you've harnessed the power of technology to streamline operations, implement better systems, improve efficiency, and outsmart the competition.
That's the world we envision for you.
AI and other technology offer a beacon of hope to enhance efficiency.
However, it's not just a saviour but also a challenger.
As AI democratises, those who don't adapt could find themselves outmatched by more efficient competitors.
If you're not delivering value efficiently, your customers will be the first to let you know.
If not to your face, certainly with their feet.
They're already experiencing the results of this new technology every day.
They're already expecting more for less.
Efficiency is much more than a nice-to-have.
It's now table stakes, par for the course.
Greater efficiency isn't just about your customer.
Technology and tools, used well, can significantly improve your life, saving many hours each week and helping you do more with less.
These are all benefits accessible to everyone.
The reason... the finance industry has been notoriously slow to innovate and adapt to change.
That enormous gap between cloud and today has created a mess.
Heavy regulation, high cost of change and lack of control and access to your data have led to complexity.
This mess isn't really anyone's fault.
Until now, the technology hasn't existed to do it any other way.
The old way of:
was far from efficient...
These inefficiencies are where we've focused our attention with Thriday.
From running small businesses, we realised that if we could build a single platform, combining all the tools a small business needs to manage their money in one place and give them the ability to easily monitor the health of their business in real-time, without having to call their accountant, we could save them many hours a week and give them a much higher chance of success.
And when we say success, we don't mean grow at all costs. We mean to have the lifestyle they deserve.
Financial admin has changed from one of the most inefficient, hated business tasks to one of the most efficient, even to the point you might enjoy it.
What used to take 6.5 hours each week can now be done in 30 minutes or less.
That's the story.
If you're a small business owner, we get out of bed every day to help businesses like yours succeed.
We'd love for you to join us.