Almost 20% of all small businesses fail within the first two years of operation. One of the main reasons for failure is that the company owner is unwilling to use business technologies to their advantage.
There are a ton of collaboration tools out there that will make employees more productive. Doing your accounting by yourself can be difficult because there’s a lot of room for human error.
Companies also need software to keep themselves organized and process payments. Without cybersecurity protections in place, businesses risk experiencing a data breach.
These are only a few things to keep in mind when shopping around for tech. Check out these business tips to learn more.
1. Customer Relationship Management
Your small business depends on its customers. Without them, you don’t make a profit. That’s why you need to make customer relationship management software your top priority.
It’s a system that will allow you to collect customer data, analyze it, and use it to give them a better experience. On top of helping you support your existing customers, it can allow you to acquire new ones.
2. Bulk SMS
Over 70% of all people own a smartphone. In fact, you’re probably using your mobile phone to read this article. You can use this statistic to your advantage with bulk SMS.
Bulk SMS is a system that will send your clients texts to remind them about their appointments, let them know when you have deals going on, and more. It’s the best and cheapest way for your to communicate with your customers every day.
3. Project Management Software
When you’ve got multiple projects going on at the same time, it can be difficult for you to balance your tasks. After a while, you’ll begin to lose track of your due dates and activities because all your projects are blurring together.
The best way to keep yourself organized is with project management business technologies. You can use it to set due date reminders for yourself and your staff members.
This software will also let you know what employees are contributing to business projects. You’ll be able to use the program to send everyone messages as well.
4. E-Signature Tools
If your business strategy involves signing contracts of any kind, you’ll need e-signature tools.
All you’ll have to do is upload the documents you want to send over for signing, enter the recipient’s email address, and wait to get it back. If the recipient is a bit slow about signing the document, the software will send them reminders.
You can also set signature due dates, and since the program is paperless, you won’t be destroying any trees. The downside is that e-signature tools can be a bit expensive.
5. Payment Processing System
Having a payment processing system is a given. You can’t make a profit without it.
You want to give your customers multiple ways to buy their goods. If someone can’t use their American Express card, they’ll take their business elsewhere.
Don’t forget about customers that use PayPal and Apple pay as well. They have to buy the things that they need too.
6. Online Data Storage
The time of keeping up with physical paperwork is done. Having to fit a bunch of receipts and customer info in a filing cabinet in your office is too much work.
It’s much easier to use online data storage solutions like Dropbox and Google Drive.
When you use cloud-based systems, all your employees will be able to access the information no matter where they are. That means they can start a project while at the office and take it to their favorite coffee shop.
7. HR System
If your small business is just now starting out, you probably can’t afford to add an HR administrator to your payroll.
HR software is a bit cheaper. It can also take care of everything from your scheduling to your payroll and business announcements.
8. Cybersecurity
The last thing you want is for your company to experience a data breach. You’ll never regain your reputation if you lose valuable customer data. You also can’t afford to start over on expensive business projects.
Depending on how much data the hackers manage to get from you, it could cause you to close your doors for good.
9. Accounting Software
Hiring an accountant can be expensive, and you don’t want to try and take care of it yourself. If you’re not experienced with it, you could end up making a costly mistake.
That’s why you should let a computer do the number crunching for you. It will help you keep track of your payroll, so all your employees get paid on time. It can generate financial reports and streamline your tax filing as well.
10. Collaboration Tools
The last thing you need to invest in is collaboration tools. While phone calls and emails will allow you to communicate with your team, it can be a bit slow.
Most companies turn to Microsoft 365. With it, you’ll be able to check out your employee’s calendars and set up appointments with them. You can also chat with your team members and file share through the software’s email function.
The problem is that 365 won’t back up your data. That means you’ll have to find a third-party program to do it for you.
Business Technologies That Will Take Your Company to the Next Level
As you can see, there are plenty of business technologies out there that will keep your company running.
Using them will make it easier to manage your funds, collaborate with your team, and keep track of your data. Having cybersecurity can protect your company from hackers, and you can’t forget about processing payments. Start shopping around for programs today.
For more tips that will help you keep your doors open, visit the Business section of our blog.
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