Published on February 27th, 2019 | by Sunit Nandi0
6 Software Solutions to Transform Your Business this Year
Once you have successfully set up your business, it can be difficult to know which software solutions should be used to keep your business running efficiently. Gone are the days when business owners were forced to manage all aspects of the business manually. Now, a more streamlined process is guaranteed by using specialised software.
On average, it would be recommended that small businesses use a minimum of 3-5 reliable software applications for the day-to-day running of the business. Once your employees have adjusted to the very basics, you may opt to add a few more to your list for further productivity.
To help you select the best software solutions for your business, here are several possibilities you should be taking into account:
1. Collaboration software
It’s not unusual for businesses to invest in collaboration software, which allows employees to work together on tasks and share documents. This has been proven to boost efficiency and time management within the office environment and beyond. Previously, documents would have to be passed between several people, which was not only time-consuming, but important files ran the risk of getting lost. By using dedicated software, team members are now able to pool resources and chat with one another regardless of the device being used and where they are located. This would also be a practical option if you have been thinking about hiring remote workers.
Purchasing collaboration software for your company gives you the opportunity to hire some of the best available talent, regardless of whether they are in commutable distance to the business premises. Freelancers can be employed for a lower rate than paying a full-time in-house employee; therefore, not only is collaboration software productive, but cost-effective too.
Collaboration software isn’t solely in the best interests of your employees either; it’s also an ideal tool for communicating with customers and clients. In many situations, a signature is needed to sign off invoices and purchase orders, as well as being a fundamental factor of legal contracts within the early stages of building client relationships.
2. Accounting software
All businesses need to get their finances in order and any accounting software from Finance-Online’s recommended options (see this list) would be a recommended option for both small and large-scale companies. This type of software can increase the precision of records and abolish any human faults caused during calculations. Investing in accounting software at the start of the tax year means you have the peace of mind that your books have been well-maintained, so when it comes to paying your tax bill, you know that vital errors have already been ruled-out.
Accounting software also means that your finances can be processed at a better speed than if you were to work out calculations manually. Due to this, you can benefit from decreased overall costs within your business expenses, in terms of reducing the amount of staff needed within the accounting department.
3. Security software
All businesses are at risk of security hacks, so if there aren’t currently any preventions installed on all the devices in the workplace, you are highly likely to be targeted by criminals. These criminals are otherwise known as hackers and have the intention of worming their way into your confidential data.
Many people are unaware that their data is being targeted, as hacking scandals can come in the form of a seemingly genuine email which may convince the user to click on a link, which is known to be a prime example.
With the correct security software installed, there is a much greater chance of keeping your PC and business devices well protected from the likes of phishing scams, viruses, malware and ransomware, to name just a few, as well as keeping your devices safe from any new hacks.
4. Inventory management software
This one has to be one of the most commonly used software solutions for large-scale businesses. It is often the case that businesses lose track of the amount of stock they are holding in the warehouse. It isn’t uncommon that businesses overspend in the panic that they are dramatically running out of stock, when in many instances, this just isn’t the case.
Similarly, you may be spending unnecessary cash on hiring an individual to stock count, which isn’t the most practical or accurate option. Instead, it would be worth investing in inventory management software which will instantly inform you on the amount of stock you have left. This is even more important if you experience a high number of visitors on your website per day; after all – there is nothing more embarrassing than taking a payment from a customer, before having to confess that you have actually run out of stock.
5. Social media monitoring software
As more and more businesses are now choosing to use social media as part of their marketing campaigns, it would be worthwhile to use a social media monitoring software to view insights and gain feedback from your target audience to learn what they are responding to. If you aren’t too clued up on how to use social media, or the benefits it can provide your business, this recent post from Max Your Web is a good place to start. Although the individual channels do provide insights to engagement and potential reach, additional management software can provide further detail and more in-depth statistic for targeted campaigns.
Some social media software also offers a tool for scheduling posts in the days and weeks ahead, which is beneficial if there are many other tasks that need instant attention in the marketing sector.
6. Reservation software
Essential for B2C businesses in hospitality sectors, reservation software allows users to check on availability when it comes to making a booking at your venue. Over the past few years, it has become much more common for businesses to include a reservation option on their website, which is managed through an efficient booking system software. This has given rise to many different companies providing the software – and you can see Software Advice’s comparison page here.
Without being able to check dates and making reservations online, some customers may be inclined to find another hotel or restaurant nearby that offers a much more convenient booking method. Similar to inventory management software, it should reduce mistakes being made in terms of over-booking, which is a possibility if the situation was assessed manually.