5 Ways Software Has Changed Business Management in 2019
As a business owner, you know how important it is to establish efficient methods for organizing your daily, monthly, and quarterly activities. If you didn’t have those organization processes in place, your business would be a mess. Companies thrive with the right structure in place and falter under the weight of disorganization. The answer to your business woes? Business management software.
The world of business management software has helped companies all over the world optimize their daily agendas and more. From calendar-organization to hiring, business owners depend on software to keep their companies humming like a well-oiled machine. They’re an essential tool for any business owner who wants an edge on the competition.
Here are some of the revolutionary ways software has changed business management in 2019. Perhaps you’ll find a new type of software in this list you can leverage to help your own business in 2020!
Transportation Management Software
If you rely on transportation for your product shipping, it can be a serious headache trying to figure out how to organize your shipping system. Luckily, TMS software does that for you. TMS lowers your logistics and transportation costs, standardizes shipping processes, improves systems integration, and helps your business be more adaptable to changes on the fly.
One of the toughest parts of owning a business is sorting out your books, especially if you’re not knowledgeable about tax law or accounting. Instead of doing it yourself and simply hoping for the best, you can tap into a vast range of digital resources. There are payroll services specifically designed for small businesses that can automate processes, so your employees are paid on time. After all, happy employees are paid well and interruptions to regular pay can cause serious discontent.
There are also plenty of services that can help you keep track of your reporting. You may always want to hire a tax professional, however, to make sure everything’s above board at the end of the year.
Don’t be one of the one in three businesses that deal with fines and other punishments from the IRS based on payroll issues.
CRM or customer relationship management is essential to businesses who deal with clients and customers. This type of software allows salespeople to track current, past, and potential new customers. It also guides you with ways to convert leads into customers. Many types of CRM software allow you to create in-depth customer profiles so you can develop and maintain a healthy, fruitful relationship with all of your clients. CRM software comes with incredible stats to back up its worth: it can deliver $5 for every $1 you spend. And about three quarters of businesses that use a CRM software saw better customer relations and an increase in profits.
Knowing how much you have is always critical to business success. Business owners need to know what’s coming in, what’s going out, and what future products will come in as well. Inventory software is a great way to organize your inventory so you can cut unnecessary expenses and increase the efficiency of your inventory flow.
Your software can help prevent being both overstocked and out of stock. A typical business will spend between 20% and 35% of its budget on inventory expenses – so it’s crucial that it’s spent wisely.
Did you know that most cybercriminals target small businesses? This is because smaller sized companies don’t normally have robust security systems in place. About 20% of small businesses deal with a cyberattack each year. And one in three businesses dealt with a virus or other kind of malware in the past five years.
Cybercriminals cost companies millions each year through malware, phishing, and DOS attacks. But, if you invest in adequate protection, you can reduce your risk of being the victim of a hacker trying to make a quick buck.
Business owners have a lot on their plates. After all, there are employees to manage and pay, inventory to monitor, and customers to please. But with a suite of business management software, business owners can streamline their processes and increase profits. With these types of digital tools in place, you’ll see growth, security and happy employees everywhere you turn.