Running a business of any size requires its devoted managers to find the most optimal solutions for any potential issues that might arise, as well as productivity-boosting systems that will ensure business growth over time. This is vital for small businesses in particular since they often face fierce competition, their employee retention is as vital as customer retention, and their reputation depends on efficacy and hard work. For those and many other reasons, SMBs rely on a multitude of software solutions that can improve their success in different departments.
Such solutions allow small businesses to collect, analyze, and implement relevant data, boost their customer relationships, transform customer service, sales processes, marketing, all the way to employee communication. The benefits are practically endless, and they allow small businesses to focus on innovation and perfecting their service while they rely on tech to perform these and many other everyday tasks.
Let’s cover several software solutions that any small business will benefit from in the long run and that can be easily implemented no matter the industry in which your company exists.
Cybersecurity software to boost digital safety
SMB managers often assume that their inconspicuous size makes them less of prey in the world of cyberattacks, but numbers tell a different story. Research has shown that in the US alone, 71% of all cyberattacks occurred in businesses with fewer than 100 employees. In 2016, half of all US small businesses have experienced a security breach. Chances are if your own SMB hasn’t yet experienced risk in cybersecurity, you’re about to be unpleasantly surprised in the near future.
With that in mind, more SMBs turn to protective software solutions that specialize in ensuring greater cybersecurity. That often includes antivirus software that keeps your business safe from viruses and malware attacks, implementing encryption policies, and of course, training employees. The very first step and the most pivotal one is getting trusted software to protect your data and your business networks from breaches.
Accounting and payroll automated
You always need trusted employees to handle your financial decisions, but when it comes to implementing different payment solutions, you can rest assured that software helps eliminate human error, and gives you the freedom to automate different processes. It saves you time, money, and energy on menial tasks all around, so you can rely on accounting software tools such as QuickBooks or FreshBooks that are affordable, low-maintenance, and come with various user-friendly features you can use. Cloud-based accounting tools are a trend nowadays and software such as QuickBooks Pro Hosting Services are getting popular among the SMBs and CPA community.
It’s especially useful for SMBs to use such software for the sake of its time-saving capabilities, since you can use it for invoicing customers, tracking expenses that will later help you when it’s time to file your taxes and scheduling payments for your vendors for better cash flow management.
When you’re running a small business that deals with manufacturing and selling goods, it becomes even more vital to ensure timely processes and protect your financial stability.
Instead of risking mistakes in the manufacturing lifecycle, which are very common when you’re relying on employees alone, utilizing a powerful MRP software solution enables you to streamline your operations seamlessly.
From crafting manufacturing work orders, tracking inventory across different warehouses, all the way to tracking various manufacturing projects, the software in question is a true asset. To run a smooth operation, your manufacturing, much like your accounting, customer service, and other internal processes, needs to be managed with reliable tools to avoid errors.
Such solutions also enable you to track and use data to make smarter manufacturing choices in the long run.
Team collaboration with a software twist
Productivity often depends on a single thread in your company, such as your employees’ ability to collaborate effectively with one another, no matter if they work side by side at the office or remotely from the comfort of their home.
To avoid communication lags, missed deadlines, and unfinished projects, there are project management solutions that empower your business every single day. These systems allow you to create tasks, assign them to the right teams and individuals, and to track deadlines and entire project lifecycles.
Most of these PM tools are designed to have a multitude of different features that are built into the software, but they are often flexible and your SMB team can change features and create new capabilities, too. Microsoft Project in Office 365 suite is a perfect PM app used by SMBs as a team collaboration platform. Learn more about it with O365 Migration.
Some tools can be personalized and customized so that each project you’re running can be distinguishable from the rest. All in all, PM software is a key tool in the SMB arsenal to ensure optimal performance and smarter collaboration.
Human resources and payroll optimization
Over the years, HR has evolved with new business trends and has become so much more than the simple act of handling job applications or monitoring employees. Nowadays, effective HR deals with numerous complex processes that are crucial for a growing business, such as employee productivity, health, and mental well-being, team building and training, building a thriving company culture, and more.
This is why introducing specialized HR software to help alleviate some of the pressure from your HR professionals is important, as you want them to shift their focus from the menial tasks over to the people that drive your company forward.
What’s more, it’s also a good idea to expedite and automate the payroll process as early as possible, as you don’t want to waste time, money, or other resources on managing your employees’ salaries manually. As one of the SMBs, If you introduce a payroll card system, for example, you can eliminate the need for paper checks (saving money on bank fees as a result), and provide your employees with faster access to their finances, which will in turn boost happiness and long-term employee satisfaction.
Software solutions are a godsend for any type of business out there, but it’s safe to say that SMBs will yield the greatest rewards from their implementation.
In addition to simplifying a range of procedures, internal as well as external, software solutions help SMBs create a path towards a more successful future, where they can focus on strategic growth while they allow these tech-driven systems to simplify their journey.
Use these tips to make sure your own SMB is on the right path, utilizing software solutions for greater financial stability, smarter savings, and better business all around.