Running and managing a successful business in today’s times can be a real challenge to surmount. Fortunately, the very technological developments that have made the marketplace so ruthlessly competitive have also led to solutions to help you in survive and thrive.
However, with so many options out there, choosing the best ones can prove to be another confusing maze in itself. We’ve simplified the decision for you with this rundown on 5 must-have software solutions for business operations.
1. CRM Software
With buyers spending more time in online research and evaluation before initiating any conversation with businesses, customer relationship management (CRM) software can help improve customer satisfaction.
CRM software, like SalesForce, can help your sales team keep track of potential customers and customer touch points, which can help in optimising lead conversions. It also allows you to systematically organise your entire customer database, storing it either individually or dividing it into groups based on demographics. This comprehensive solution allows you to track the complete customer lifecycle.
2. Accounting Software
Many up and coming businesses use simple programmes like Microsoft Excel to maintain their accounts, and many others still do it manually. However, it can often prove to be a mistake in hindsight when you revisit your accounts at the end of a financial year and find an incomprehensible jumble of numbers.
Affordable accounting software can keep your books in order and save you a ton of time – an average of 40 hours per week. Popular accounting software like QuickBooks inventory software can also do a lot more – keep track of revenue, calculate tax liability and track costs and profitability.
Blockchain, the distributed ledger that holds the record of every transaction of the cryptocurrency Bitcoin, has a lot of potential to revolutionise your business operations. Automated transactions via blockchain will be used to make making financial transactions more transparent, efficient and secure.
With giants like Facebook jumping on the crypto bandwagon with the proposed launch of its own currency, Libra, virtual money may well be the future. By integrating blockchain into your operations today, you can make your business future-ready.
Voice Over IP or VoIP – a cloud-based telephony system – has changed the dynamics of business interactions. With the entire communication network on cloud, you get cheaper and more consistent access to phone calls and instant messaging services.
Since the service is hosted and maintained by a third part, the need for capital to set up and maintain communication networks such as PBX becomes redundant. As technology advances, VoIP is also being used to set up virtual meetings with people half-away across the world.
5. Order Processing Software
Order processing system has immense potential in improving the efficiency of any retail process. What’s more, it can be readily customised to suit the specific requirements of a business of any type of size.
With an omni-channel presence fast become non-negotiable, businesses can benefit from using order processing software to manage stock and sales. The scope for scalability also allows the software to keep up with the changing needs of your growing business.
The ‘old school’ way to doing business is no longer a feasible choice. You have to adapt to stay relevant in this dynamic time and these simple yet effective tech solutions are a good start point for that transition.