Does Small Business Software Actually Work for Saving Time & Money?

The success of any business highly depends upon the management of resources and the business’s operational time. The resources can be human, equipment and technical tools. Business software specifically designed to cater to the needs of a small business is one of the major resources. They are being adopted amongst almost every business so that they could save the operational time of business and save money for the better investments.

By exploring the major categories of small business software, we can see if they really live up to their promises.

HR Software

The major tasks of an HR are repetitive in nature. The HR department is responsible for maintaining employee records, their departments & designation information, their personal & professional experiences, and many more. If all these are maintained by a single (or group of integrated software) instead of plain files and folders and sub-folders on the computer drive, it will be easier to access them. Also, when higher management asks for relevant reports at the last minute of the meeting, the HR software is sophisticated enough to display the customized employee reports.

Payroll & Accounting Software

The payroll management involves heavy concentration and complex calculations. It is also a repetitive work to be done every week or month. With all the new technology in the market in form of sophisticated payroll software, it is not wise to still maintain numerous excel sheets for the payroll record. The advance accounting software provides much more than just preparing payslips; they can be customized to accommodate your business accounting logics, maintain payroll history, automatically generate payslip for fixed attributes, maintain logs for loan and advance salaries, etc. There are simpler cloud options available too. An online check stub maker gives a one form paycheck facility that can be saved on your local drive, thus saving a lot of time.

Web & Email campaign software

Blind marketing is never an option. You should even know how your cold marketing through emails is working out; whether it is relevant enough to invest into it further or something needs to be altered. The Email and web campaigning software can be helpful in this regard and can raise the conversion rates by 50%. They help the marketing team with ready-to-analyze reports to understand the behavior of their prospective clients.

Customer Relationship Management Software

The management of records about the interaction with current and potential business customers is required to improve business relationships with them and specifically focus on their retention for driving sales growth. A CRM or Customer Relation Management Software is an interactive & integrated platform which compiles data from different communication channels ( company’s website, telephone, Email, online forms, live chat, social media). Such systems are highly useful when one employee needs to hand over all the customer interaction records to the new one to manage thereafter. This reduces the time spent on the training and data overtaking. They also save data recording time, thus saving a bit for other important functions, like strategizing and decision making.

Inventory Management

Inventory and its management is a lifeline for certain businesses. The other functions of such businesses like sales and purchase are coherently dependent on the continuous & timely reports from the inventory. The online market is full of standalone and cloud inventory management software. They not only keep the list of items in your warehouse or retail shops, but they are made smart enough to handle processes like preparing sales & purchase orders, generating automatic invoices, sending reminders to the owner about items having low inventory, track the itinerary for the dispatches. These functions could save a lot of time that may go waste in making the recording sheets. Also, all the reminders at the right moment can help the management timely in decision making.

Project Management

The success of any project is its optimized used of resources and proper time management. Before implementing the project, the manager must have information about the number of resources, the expected time for completing the project, sub-division of a bigger project into smaller independent modules and the availability of skills for completing the tasks on time. All these can be done by an advanced project management software. The manager feeds data into the software, and its automated functions would develop charts and reports about the progress of the project. For all future needs, the software can be a reference point and thus, this would save a lot of precious time for the company. And deployment of the correct number of skilled resources would also help in saving some bucks.

Hope this list would help you in deciding whether to rely on the small business software for saving time and money. Try them one by one and see the difference yourself.

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