There is a huge range of tools available to help small businesses run smarter. We round up the year’s best below.
Accounting Software
Balancing your books correctly is vital, and using the right tool to do so can save you time, money, and resources. This year has seen the rise of a number of software options to streamline accounting processes. Typically, accounting software can be used either by companies to monitor their finances, prepare and interrogate financial reports, and to ready figures for submission to an accountant, for example. This type of software may also be used by accountants themselves to monitor a business’s performance and to inform the financial advice they offer their clients.
Incorporating accounting software in your small business’ processes can ensure accurate reporting and negate the need to root through boxes of receipts at the end of the financial year, or be anxious about whether you have included every single figure that you needed to in your annual return.
Time Tracking Software
If you run a very small business, then time tracking software could be a useful and affordable way to keep a record of the hours you’ve worked on a job, to record expenses, and track mileage. There are a number of options when it comes to the time tracking software that’s available, with some basic packages being free of charge while others offer a tiered system of charges. What’s right for you will depend on the size of your business and whether or not you currently have any employees.
Point Of Sale Software
A business’ Point Of Sale refers to the point at which your clients make payments for your goods or services; this facility handles all of the transactions that occur throughout the business day. The hardware components of a POS include the cash register and credit card reader, for example. The software element could incorporate a cloud-based system that records every transaction made. Choosing the right POS for your business is important: click to find out more and for the things to watch out for when deciding which one to opt for. Shopping around is important, and it’s a good idea to read as many online reviews as possible regarding the options you’re considering.
Project Management Software
Getting some effective project management software on board in your small business could make a huge difference to productivity and workflow, and you may be surprised at just how much smoother all manner of processes start to run as a result. This type of software typically features plenty of tools that allow for better, more efficient collaboration and, even if your team is a small one, there is still the potential for its use to boost overall efficiency. Examples of the features of project management software include project and task tracking, dynamic calendars, sales tracking, and the facility to allocate assignments and their prioritization.
Human Resources/Payroll Software
This tool could very well free up a huge amount of your time. If you’re running a payroll system, then using a dedicated platform to do this for you will make sure that you’re paying the right level of taxes and that tax updates will be applied automatically. This software also ensures compliance and removes the burden of needing to stay on top of all the legislation that can affect taxes and when these taxes should be paid, as the whole process is undertaken automatically. Best of all, there is no specialized training in payroll necessary to use this type of software, so keeping the system updated with the necessary figures can be delegated to another staff member if required.
Customer Relationship Management Software
This is a powerful tool to have in your arsenal and one which will only increase in usefulness as your business grows. Customer Relationship Management (CRM) software is a way to organize your clients’ information and the interactions your business has had with them to date. One of its main benefits is that it helps you to ensure that your clients have the best experience possible every time they have any kind of interaction with your business.
Good CRM software can help you manage your existing customer list and can also be used in tandem with lead generation. As well as providing statistics on sales and client analytical data, a CRM tool can be used to optimize, for example, your website’s landing page, sales pipelines, and email marketing campaigns and boost your brand awareness.
eCommerce Software
Having an online presence is crucial for all businesses, regardless of size, and being able to sell your goods and services online is where eCommerce software can help. As well as facilitating the taking of payments, this type of software typically also allows businesses to manage their orders and track sales and can also be used alongside marketing campaigns. Some software packages include inventory management, automated dropshipping, and the facility to create labels for bulk shipping. There are many different eCommerce options available, with some tailored to specific industries, so take the time to research the choices available to be sure of picking the best one for your business.