Seasoned entrepreneurs, especially those involved in tech start ups, often keep an eye on the company financials. They usually look at their monthly burn rate, or the net drain on the bank account.
Whenever start ups run low on cash, entrepreneurs usually extend the runway by cutting costs. In other words, they have to find alternatives to achieve the same goal at a lower cost, or in a shorter time. Sometimes the founders may want to cut down bookkeeping/accounting costs by doing it on their own.
Cloud based applications, especially SAAS, can give start ups access to quality enterprise level programs without the up front cost. As an entrepreneur, you cannot avoid applications for accounting, time tracking, productivity, etc., but if you purchase the enterprise edition most turns out to be overkill or unnecessary for a small business. Most cloud-based apps offer a free plan, so try it out before you spend money on the full-fledged version.
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