When it comes to investing in productivity software the questions on a successful entrepreneur's mind are: "Will it get the proper ROI? Am I choosing the right apps for my business? What issues is this software going to solve?"
Undoubtedly, in the 21st century, running a business without using software is impossible. Even the smallest companies and the simplest startups need programs to achieve their goals.
Scope of apps for business productivity
Off-the-shelf software address different needs of your business, and the scope of offers on the productivity apps on the market ranges from financial-related programs to customer support.
With time, the majority of companies come to a decision to invest in custom software since it helps them optimize the work process and minimize expenses.
What kind of software will surely enhance the productivity of your business and how can software assist in business arrangement? Let’s look at the top 10 ways it can do that and much more.
Financial software: Quotes and invoices
The financial part of your business is always complex. Human error can lead to unfortunate consequences, such as lost money and, in the worst-case-scenario, botched reputation. To avoid it, consider the financial software with a long-standing record of reliability.
What issues are solved: The software can help you create quotes and invoices and attach them to contracts. You can keep track of your invoices and other financial transactions without having to do anything by hand.
The positive outcome: Improved financial organization leads to higher revenue.
Marketing software: Automation tools
Without a proper marketing campaign, your business can’t thrive. Hiring a large marketing team could be costly and unnecessary. Today, numerous marketing automation tools exist to make your campaign better, faster, and more productive.
What issues are solved: From sending reminders by email to purchasing ad space on relevant websites, marketing software can do numerous tasks at a fraction of the price you would pay for manual efforts.
The positive outcome: Time and cost-saving on launching marketing campaigns.
Collaboration software: Remote teamwork
Many companies take advantage of freelance workers and collaborate with employees in different locations. In order to do that quicker and more efficiently, you need special software.
What issues are solved: Such software doesn’t just simplify communication and provide quick video conferencing; it allows different team members to work on a project simultaneously. Such an option speeds up the working process multi-fold.
The positive outcome: The project development is easy to monitor regardless of team location alongside error reduction to a minimum due to eliminating miscommunication.
Time tracking software: Calculating time and money
Long gone are the days when cards were used to calculate the time an employee spent at work.
What issues are solved: In addition to ensuring the accuracy of work time calculations, time-tracking software keeps all the parties involved in projects (i.e., employers, employees, and clients) accountable and productive. Time-tracking software can be accessed by managers, the financial department, and business owners to make decisions about payments, workload, project efficiency, etc.
The positive outcome: The risk of human error is kept to a minimum, reducing the time spent on fixing them and dealing with unhappy employees.
Customer management software: Client database
Building a high-quality customer database doesn’t just simplify your marketing efforts; it helps you increase conversion rates and boost revenue. According to experts at Tricension, special software to create and manage your customer database is an integral tool for large companies with numerous clients.
What issues are solved: For big enterprises, a customer database is an integral tool as it is the only effective way to manage a growing number of clients.
The positive outcome: It tracks personal preferences and purchasing history, helping business owners make the right decisions about keeping the existing customers and attracting new ones. Without customer databases, business analytics would not provide sufficient results.
Scheduling software: Your business calendar
Something as simple as a calendar could make a big difference for your company’s profits.
What issues are solved: With the proper scheduling software, coordinating appointments, scheduling meetings, creating reminders make a vital part of a company’s organization. Depending on how many tasks you need to shuffle, you can invest in calendar software of different complexity.
The positive outcome: It helps avoid such embarrassing problems as overbooking or meetings overlap.
Business analytics software: Feedback on your work results
Business analytics software is probably the most important type of software your company could take advantage of. It tracks your work and helps you make decisions about changes to improve your business.
What issues are solved: Without this software, you may not be able to see the reason for some problems the company is experiencing. Such programs take advantage of all the business data to give you an idea of where the company is going.
The positive outcome: It is invaluable in terms of business forecasting and planning the strategy.
Customer service software: Making a customer happy
Customer service is highly important to the success of any business. Everybody knows that a happy customer equals a loyal customer.
What issues are solved: You do not have to hire a big team of expensive experts. With the right software, such as chatbots, online chats, and interactive websites, you can offer customer service to your clients during the off-hours.
The positive outcome: Such an approach could help you acquire new clients and keep the old ones happy.
Business Security: Keeping Your Data Safe
No matter how much sensitive information you are working with, you have plenty to lose. With the number of hacking software appearing on a daily basis, you can’t afford to live without protection.
What issues are solved: By addressing the data security, you expand on the list of your clients and reduce legal consequences to zero.
The positive outcome: Maintaining the 'health' of your business apps ecosystem.
Work Optimization: Custom Software
Eventually, each business owner concludes that the company needs custom software.
What issues are solved: Such programs consider all the needs of a business, allow excellent flexibility, bring automation to the maximum, and offer utter security.
The positive outcome: Customization as a facilitator of workflows puts your business ahead of competitors and helps you provide service more effectively.
The right software is the key to the success of any business. It’s a tool, which provides fail-proof solutions when you need to:
- optimize the workflow
- keep data secure
- boost conversion rates
- improve customer service
Productivity software for business translates into an impressive ROI making it worth considering by each business owner.
CAN BUSINESS MANAGEMENT SOFTWARE HELP MAKE YOUR BUSINESS MORE PROFITABLE?
Business management software can help manage all aspects of your business and improve overall efficiency. An integrated solution that has order management and inventory control systems working seamlessly as one integrated package will save time, instead of requiring you to spend unnecessary hours putting together reports from a variety of software programs.
Producing detailed and accurate reports will provide insight into your business operations and help you make better decisions to grow your business.
Here’s how an integrated business management solution can help make your business more profitable:
Reducing your costs is one method to increase profitability. For a distribution business, inventory costs can be quite high and a fully integrated business management software can definitely help optimize inventory levels to keep costs down. Without software to keep track of your inventory, you will not know when you need to reorder. Too much inventory can result in increased costs, particularly if it’s not being moved fast enough.
Take Advantage of Volume Discounts
Most suppliers will offer a price break when placing a large order to replenish your inventory. However, it’s important to know what to order, and having detailed inventory reports can help you make this decision.
Inventory Data Analysis
Business management software for retail businesses will allow you to make adjustments to your inventory on a regular basis. Your software will allow you to analyze higher-performing inventory, and keep track of trends. You should be able to track how quickly your vendors ship to you through seasonal variants. Some items may sell better at a certain time of year. Your inventory reports will tell you which inventory is underperforming and give you the insight to keep your higher-performing inventory on store shelves.
Decision Making Will Become Easier
Make better decisions by analyzing sales figures and trends to understand how your business is financially performing. With accurate financial data, making decisions become easier and will deliver results that will positively impact the growth of your business.
Finding the right business management solution can help make your business more profitable. Take advantage of all the benefits of your business management software to better serve your customers, reduce costs and gain visibility to your business operations.