Southwest Airlines’ failure is a lesson in how to think about tech
Technology investment is often perceived as a cost center, with the perception being that it is an expense that a company must bear in order to remain competitive. However, this perception is misguided, as technology investment can actually serve as a profit center for a company. This is exemplified by the failure of Southwest Airlines, which occurred due to the company’s failure to make adequate technology investments. Southwest Airlines was once a pioneer in the airline industry, with its low-cost business model and customer-friendly approach setting it apart from its competitors. However, in recent years, Southwest has struggled to keep up with the rapid pace of technological change, and this failure has had serious consequences for the company. One of the primary reasons for Southwest’s decline was its failure to invest in modern computer systems. Despite being one of the largest airlines in the world, Southwest’s computer systems were outdated and unable to handle the complexity of modern air travel. As a result, the company was plagued by delays and cancellations, which frustrated customers and led to a decline in passenger numbers. In addition to operational problems, Southwest’s outdated computer systems also made it difficult for the company to innovate and introduce new products and services. For example, Southwest was slow to adopt online booking systems and mobile apps, which hindered its ability to compete with newer, more tech-savvy competitors. It is clear that Southwest’s failure to invest in technology was a major contributing factor to its decline. However, the company’s story serves as a cautionary tale for other businesses, as it illustrates the importance of technology investment in today’s fast-paced, tech-driven economy. During times of economic recession, it is natural for businesses of all sizes to focus on cost-cutting measures in order to survive. However, it is important for medium-sized businesses to resist the temptation to view technology investment as a cost center and instead consider it as a profit center. While it may seem counterintuitive to invest in technology during a recession, the reality is that technology can actually help medium-sized businesses to weather economic downturns and emerge stronger. By investing in modern computer systems and other technologies, medium-sized businesses can improve their operations, reduce costs, and increase efficiency, leading to increased profits and a stronger competitive position. Furthermore, technology investment can also help medium-sized businesses to innovate and introduce new products and services, which can drive revenue and market share. For example, companies that invest in e-commerce technologies are able to reach a wider audience and offer their products and services to a global market, even in the midst of a recession. Therefore, while it may be tempting to cut back on technology spending during economic downturns, the long-term benefits of technology investment far outweigh the short-term costs. By making strategic technology investments, medium-sized businesses can position themselves for success in any economic environment. At Brysa, we understand the importance of technology investment for medium-sized businesses. Our team of experts can help you make the right technology investment decisions for your business, ensuring that you are well-equipped to succeed in today’s tech-driven economy. Source: https://www.nytimes.com/2022/12/31/opinion/southwest-airlines-computers.html
As a CFO or FD, what key benefits of Accounting Seed you need to know about?
As finance directors and CFOs, it is essential to have a robust and reliable system in place for managing the financial operations of your organisation. One tool that has the potential to revolutionise the finance function of your organisation is Accounting Seed. Accounting Seed is a cloud-based accounting software cloud-based accounting software that is specifically designed for use in small to medium-sized businesses. It offers a wide range of features that can significantly improve the way your finance team operates. Here are some key benefits of using Accounting Seed (read the detailed comparison between Accounting Seed and its competitors like QuickBooks, Sage and Xero): 1. Streamlined and automated workflows: Accounting Seed automates many of the tedious, time-consuming tasks that are involved in financial management. This frees up your finance team to focus on more high-level tasks, such as analysing data and strategising for the future. Additionally, the software is highly customisable, allowing you to tailor the system to the specific needs of your organisation, streamlining processes and increasing efficiency. 2. Integration with Salesforce (read our case study of how we improved efficiency by almost 30% with seamless integration): If your organisation uses Salesforce, Accounting Seed can easily integrate with the platform, providing a comprehensive view of your financial data within the same system you use for customer relationship management. This can save your finance team time and effort, as they do not need to switch between multiple systems. 3. Real-time financial reporting: Accounting Seed offers real-time financial reporting, allowing you to access up-to-date financial reports anytime, anywhere. This means you can make informed business decisions based on the most current data available. 4. Scalability: Accounting Seed is designed for small to medium-sized businesses, but it is also scalable to meet the needs of growing organisations. As John Ray III, the CEO of FTX, highlighted that FTX used Quickbooks, a tool not suited for multi-billion dollar companies. Quickbooks is a great tool for small businesses, however, fails to accommodate growth. Overall, Accounting Seed is a powerful tool that has the potential to revolutionise the finance function of your organisation. Its ability to streamline and automate workflows, integrate with Salesforce, provide real-time financial reporting, and scale to meet the needs of growing organisations can greatly improve the efficiency and effectiveness of your finance team. If you are a finance director or CFO looking to modernise your organisation’s financial management system, consider giving Accounting Seed a try. Partnering with a knowledgeable and experienced team can greatly improve the implementation process. At Brysa, we are proud to be Accounting Seed partners, offering expert guidance and support to help your organisation get the most out of the platform. Our team has extensive experience with Accounting Seed and can assist with everything from initial setup and configuration to ongoing training and support. We can work with you to customise the system to meet the specific needs of your organisation and ensure a smooth and seamless transition to the new software. By partnering with Brysa for your Accounting Seed implementation, you can trust that you are in good hands. We are committed to helping your organisation realise the full potential of the platform and achieve success with your financial management system. So, if you are considering implementing Accounting Seed, don’t hesitate to reach out to our team for expert guidance and support.
Why you need more than just Notion or Airtable to manage your CRM
The depth and breadth of Salesforce Tools you can use daily seems to grow with each scheduled release. As Lightning has picked up more traction, transitioning from Salesforce Classic to Salesforce Lightning is a “Must-Do” to continue using the Salesforce platform. So what exactly is “Lightning”? The Lightning Component framework is a UI framework for developing single-page applications for mobile and desktop devices. Think of Lightning Components as squares of a quilt with different functionality, sewn together on a “blanket” of a page. For admins or developers starting in Salesforce or for users just transitioning to Lightning recently, this can seem like information overload. How can you possibly get a handle on all that Lightning has to offer? The key is to master a few things at a time, and one of the best ways to do that is to start using bits and pieces of the Lightning component framework as soon as possible. Lightning Components can range from very basic, standard functionality, to customised and complex pieces that can fit a specific need, but may require development. Whether you are just learning Lightning or are a seasoned developer, the following five standard Lightning components provide great functionality with little time or learning required. Let’s dive in! Chatter Feed The Chatter Feed can be a really useful tool on an object or team-based page to show chatter posts that person follows, posts that are directed to them, or posts they’ve bookmarked. Chatter is great for documentation of activities and communications that occur on certain records, and keeping it all in line makes it easy for busy sales reps, for example, to stay on top of what’s going on that day without having to search through hundreds of records that they are associated with. Dashboard Having a dashboard snippet is a great way to show data that is useful at a glance with a visual indicator, such as a bar graph, pie chart, or tabular list. Dashboard pages are great for collecting lots of information in a “one-stop-shop”, however, using the dashboard Lightning component on a page saves clicks and keeps the Salesforce user from navigating away to another tab. These small benefits have a big impact on time! When customizing your Dashboard Lightning component, you can choose the size based on pixels, and choose to hide an error message if something keeps the dashboard from loading on the page, such as a permissions error with your user and the dashboard folder. Lightning App Builder The Lightning App Builder is a highly versatile and user-friendly tool within Salesforce, designed to facilitate the creation of custom pages for both the Salesforce mobile app and Lightning Experience. Through a simple point-and-click interface, users can effortlessly build single-page applications, dashboard-style apps, and customised record pages tailored to their specific needs. This tool allows for the integration of both standard and custom components, enabling the creation of highly responsive and dynamic applications without the necessity for extensive coding knowledge. Its intuitive design ensures that even those with minimal technical expertise can construct efficient, aesthetically pleasing pages that streamline business processes and enhance user engagement (Trailhead | The fun way to learn) (Trailhead | The fun way to learn). Lightning Record Pages Lightning Record Pages are specialised pages within Salesforce that provide users with a detailed view of an individual record’s data. These pages are highly customisable, allowing for the inclusion of various components such as fields, related lists, and custom components that can be arranged to suit specific business requirements. The layout and functionality of Lightning Record Pages can be tailored to enhance the user experience, making it easier for users to access and manage critical information efficiently. By leveraging these pages, businesses can ensure that their users have quick access to the most relevant data, thereby improving productivity and decision-making capabilities (Trailhead | The fun way to learn) (WeLearnSalesforce). Flows Salesforce Flows are powerful automation tools that enable users to build complex business processes with a simple drag-and-drop interface. These flows can be used to automate repetitive tasks, guide users through multistep processes, and ensure data consistency across the organisation. Flows can range from simple field updates to intricate sequences involving multiple objects and logic steps. By leveraging Flows, businesses can significantly reduce manual workloads, increase process accuracy, and ensure that critical business rules are consistently enforced across all user interactions (Trailhead | The fun way to learn) (Trailhead | The fun way to learn). Conclusion Salesforce Lightning is an indispensable tool for modern businesses, offering a suite of customisable and intuitive features that enhance productivity, streamline processes, and improve user experience. With capabilities ranging from the creation of dynamic pages and automation of complex workflows to the customisation of record views and home pages, Salesforce Lightning empowers organisations to tailor their Salesforce environment to their unique needs. This flexibility not only boosts efficiency but also ensures that users have quick access to the information and tools they need, ultimately driving better business outcomes and higher satisfaction levels (Salesforce) (Salesforce Developers).
