Technology has become an indispensable part of running a business. In fact, it can even be the difference between success and failure, since the right types of software can free up time for more productive tasks and help make better decisions.
6 Types of Software Every Business Needs
That’s why 80% of leaders are speeding up the process of task automation and implementing essential tools for making remote work possible.
Today’s tools can completely reshape how a company operates and become the driving force behind the growth for many years to come.
But in order to make the most of what technology has to offer, companies must figure out which software solutions they should prioritize.
With so many options to choose from, the process of narrowing down the list can become overwhelming very quickly.
Expense Management
Employee spending is one of the most critical areas when it comes to a stable and well-managed budget.
Unfortunately, tracking it can be a real hassle, as going through countless checks and the messy reimbursement process takes up a lot of time and resources.
What’s more, without a centralized system, errors are almost unavoidable, which means that it can be very hard to tie up loose ends from even a few months ago.
But all of that can be avoided by using employee expense management software.
This seemingly simple tool can streamline the entire process, from the moment an employee spends money until the receipt is submitted, approved, reimbursed, and analyzed.
The analytics and reporting feature can be especially useful, as it provides a detailed outlook on how employees spend, where the money is going, and how the process could be optimized.
Business Intelligence
Having the right information is a crucial part of gaining an edge over the competition.
And the good news is that business intelligence solutions make it very easy to learn more about your customers and their behaviors.
Solutions like ZoomInfo come with many features such as data enrichment, lead building, segmentation, and reporting.
But since they have upped their prices, you can also consider one of the many ZoomInfo alternatives that can provide just as many advantages but with a more affordable cost.
Over time, as you collect and analyze more data, you can not only make better decisions with each client but can also improve your understanding of the audience you’re dealing with and how to best cater to their needs.
Time Tracking
Time is the most valuable asset that a company has.
But unless there’s a system for maximizing the productivity in the time that employees have each day, it can also become the biggest bottleneck for growth.
Even the most motivated employees can be subjective when evaluating how to best spend their time at work.
They can misjudge how much a task actually takes, prioritize the wrong tasks, or even spend time on things that they should not be working on at all.
That’s why more and more companies are embracing time tracking software as an integral part of how they operate.
Not as a way to control or micromanage employees but rather a way to see the big picture of where the most time is invested and whether that could be improved upon.
With the insights you gain from using the software, you can see the big picture of how the project is progressing, where the most significant bottlenecks are, and how long a type of project might take.
You can also evaluate how different employees accomplish tasks, learning to better assign tasks based on skills and experience, leading to a more productive and happier workplace.
Communication
The global pandemic has forced many companies to embrace remote work on a much larger scale than ever before.
And with that, the importance of effective and simple-to-use communication software became impossible to ignore.
If businesses were to function and continue to operate, they needed a way for teams to communicate and share information instantly, removing as much friction from the process, even when team members were thousands of miles apart.
That’s where tools like Slack, Skype, Google Meet, Zoom, and many others came to the rescue of companies trying to establish new work processes and move forward.
These tools allow video conferencing, calling, chatting, sharing files, and doing most of the essential tasks that would take place in an office environment.
And today, when some companies are able to return to normal work, the convenience and flexibility of these types of tools have made many hesitant about switching back.
The ability to communicate through an app is usually even more convenient, allowing to share information faster and save time, dropping a quick message and resuming work without having to do it in person.
And with tools like Slack adding new features every year, communication software is bound to become even more important in the future.
Project Management
Managing complex projects can be a big challenge.
With so many moving parts and so many people involved, managers face the challenging task of keeping everything organized and ensuring that people know what to do next.
The good news is that today, there are countless project management solutions designed to simplify and streamline the process as much as possible.
Today’s complex projects require both flexibility and the ability to make changes quickly, and that’s precisely what feature-rich leading solutions can offer.
For one thing, it makes collaborating in a team setting a breeze.
Team members can instantly share updates, ask questions, and assign tasks to other team members when it’s their turn to complete a task.
It’s also very easy to work together and make changes to a single document, which can simplify the process of generating ideas and coming up with the best result possible.
At the same time, project management can help spot issues and reallocate resources to where they are most needed.
Having everything in one place, with real-time data, is a true game-changer that can make both large and small teams operate much more effectively.
Customer Relationship Management
Having a good relationship with your customers is an integral part of success.
And that’s why you need a consistent and reliable process for keeping track of who your customers are, what interactions you already had, and what you need to do next in order to provide the best possible service.
With the help of customer relationship management software, you can take complete control of each interaction with your customers, providing your sales team with all the information they need to deliver relevant and timely solutions to clients and prospective customers.
Bottom Line
One of the main goals of any business is to improve efficiency and get more done in the amount of time available. And that’s exactly what modern business tools can offer, providing a range of ways to save time, make better decisions, and put employees in a position to succeed.
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