Many businesses wait for the “next big thing” in technology before evaluating their existing systems. This approach can result in obtaining what the company thinks it wants, but not necessarily what it needs. It’s usually more productive and cost-effective to assess current systems and explore ways to improve or utilise them more efficiently. By focusing on optimising what you already have and integrating management information and business intelligence, businesses can achieve significant benefits.

Q: Can you explain the concept behind MagnifyB and how it helps businesses?

MagnifyB is a SaaS-based system that my co-founder David Griffiths and I developed from our extensive consultancy experience. The core idea is to integrate all your data seamlessly, combining finance, management information, and business intelligence in one place. This approach allows businesses to move away from reliance on business-critical spreadsheets with multiple authors and reduces the need for endless discussions with accountants and other professionals. With MagnifyB, businesses can understand and utilise their information more effectively, leading to more productive conversations with their advisors.

Q: How does MagnifyB help businesses utilise existing systems more effectively?

Instead of introducing expensive support systems that many SMEs can’t initially afford, MagnifyB leverages what businesses already have in place. Our platform provides extensive learning resources, enabling users to maximise the potential of their current systems. The goal is to enhance productivity and efficiency by using existing tools in smarter ways, rather than making everything else redundant.

Q: What’s the importance of identifying and fixing one problem at a time?

Business owners need to know what specific changes are necessary to embrace improvements effectively. Identifying, brainstorming, and addressing one problem at a time is the most straightforward way to make genuine progress. This method helps business owners better understand their operations and facilitates smoother transitions during changes.

Q: How do change processes differ between large and small organisations?

In large organisations, change processes can be enormous, cumbersome, and often too slow. In contrast, small businesses operate in a completely different environment where agility and the ability to change are fantastic advantages. Small business owners are generally more willing to embrace change, which should be capitalised on to foster growth and improvement. The big, drawn-out change processes seen in large companies are not as relevant anymore; it’s now about agility and combining the new with the old effectively.

Q: What are the financial benefits of using MagnifyB for small businesses?

Multiple system subscriptions can add up to a significant monthly expense for small businesses. MagnifyB aims to support SMEs genuinely by being affordable. Our early adopter offer Is £360 + VAT for a full two years subscription to the platform. That equates to just £15 per month, which is a huge saving against the full price subscription of £47 per month when the system is launched to the market later this year. That’s a saving of £768 When combined with your existing finance and accounting system, this is often all that most small businesses need to get started or to show effective growth.

Q: What is the overall message you want to convey to small businesses regarding technology and change?

The key message is to use what’s already available in a smarter way. Embrace the tools and systems you have, enhance them with the right integrations, and be open to learning and adapting. This approach is not about making everything else redundant but about leveraging existing resources more effectively to drive growth and efficiency.

Optimising existing systems and integrating them effectively can provide significant benefits for businesses. MagnifyB offers a cost-effective solution for small businesses, enabling them to utilise their data efficiently and make informed decisions without the need for expensive new technologies. By embracing change and focusing on continuous improvement, businesses can achieve sustained growth and success.