Business software is a set of computer programs that allow businesses to perform their daily tasks more efficiently. All types of businesses can benefit from various types of software, even if it’s a simple phone app (application), no matter what industry they operate in. Here’s a look at four categories of business software that can benefit all businesses.
#1: Customer Relationship Management (CRM) Software
CRM software allows you to get to know your customers better, or more specifically, how they interact with your business and vice versa. Having this type of software will allow you to gain insight into these relationships, which will then help drive sales and increase customer retention— as well as insight into how you’re interacting with potential customers. It’s also helpful to have sales and marketing software if this isn’t included with your CRM software. This will help you analyze your sales and marketing data to make improvements in your efforts, and combining this with understanding your customers will increase your profits.
#2: Finance Software
Finance, or accounting software organizes all of the monetary aspects of your business. This is arguably one of the most important types of software that all businesses can benefit from having because at least one of the goals of every business is to make money. There are many components to a business’s finances, so it’s important to have accounting software that covers various areas.
Taxes
Like individuals, businesses have legal obligations and they can be just as confusing as (if not more than) individual taxes. While hiring an actual accountant can be helpful, having easy-to-navigate tax software can also help keep business integrity.
Payroll
Payroll software is a necessity if you have employees. This type of software will help you process payroll correctly, as well as keep track of employee bonuses, superannuation payments, and many other aspects of payroll.
Bookkeeping
A bookkeeping function is the lifeline of any good accounting software, as it keeps track of everything related to your business’s finances. Not only is it this, but looking back on an organized financial history helps you make better financial decisions for your business. Finance/accounting software that offers bookkeeping, payroll, and tax services will help your business operations run smoothly.
#3: Project Management Software
Project management software can be a big help when it comes to tackling huge business projects. This type of software can help you break down a big project into more manageable tasks for you and your team. Having all of your tasks organized in one central place where everyone can access it can make your projects come together more efficiently.
Time Tracking
Another aspect of project management is time management, and if your project management software doesn’t have some sort of time tracker, you can also get time tracking software. This type of software allows you to see where most of your time is being put and how you can better manage it. Time is just as precious as money— especially for businesses— so you’ll want to make sure your time is being used as efficiently as possible.
Communication
One last aspect of project management is communication. Communication software allows you and your team to communicate with one another, and this is key when it comes to working on a project. Effective communication is how a business runs smoothly, so make sure to have some type of communication software along with your time tracking and project management software.
#4: Security Software
Finally, all businesses need some type of security software when it comes to protecting sensitive information that’s stored on computers and network systems, and this is where a cloud-based security program can be helpful. Cybercriminals are always coming up with new and creative ways to hack into the systems of both online and in-person businesses, so every type of business needs software that can offer this protection. When you hear the term “the cloud”, it refers to everything that is stored on (and can be accessed remotely through) the internet instead of on a hard drive. Putting it this way allows you to see how unprotected information is, and why you need security software to protect it.
Not only does software help your business run more smoothly, but it can also help protect your business from attacks. Buying software for your business is a necessary investment to ensure its safety and also that you’re able to run it as efficiently as possible. Ensuring both of these will greatly help the success of your business.
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news and distribution to create an unparalleled, full digital medium and social business network spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems.
