Your business' data….asset or not?

I often ask SME owners this question, and I have noted that many do not really see their business data as an asset.

Most see business data as only financial transactions. Put in other words, business data is only money that flows.

This is a common misconception of SME's. I made this very mistake for many years.

Think of it, we do not buy from Woolworths because they have the ability to take our money. As Vusi Thembekwayo puts it, we buy from them because they have built a value chain.

Money is always the end result of a transaction, it is not your business. So how much of your business data are you capturing in your ERP system? The non-money data.

From my experience, the businesses that thrive, care about their business data and the value chain more than they do about money. Money will come if value is given.

At MyBI we build Apps for Pastel Partner and Pastel Xpress to help SME's see their data as big businesses do.

Your Data • Your Asset