Which Software Platforms Have the Greatest Business Impact?

Being a business owner takes patience, hard work, and persistence. Starting and growing a business requires a lot of time. Business owners everywhere put in countless hours working on the operations of the company. In fact, it is estimated that the average entrepreneur spends about 70 percent of the time taking on day-to-day tasks and only about 30 percent of the time on tasks that can help grow their business such as strategic planning. Fortunately, software programs for small businesses and large companies alike, are intended to make operations more efficient by streamlining processes, simplifying work, and helping with day-to-day tasks.

These software platforms are helping with things from asset management to human resources. If utilized correctly, software programs can meet the business needs of owners and can be linked to payments and business profiles, handle accounting and payroll features, and house documents. Software platforms can be the right solution for business owners to spend less time on day-to-day operations and more time building the company. Let’s take a look at some software platforms that have the greatest business impact.

Asset Management

img

One of the things that many business owners spend a significant amount of time on is resource management. From business equipment to sales inventory, keeping up to date records of everything can become very time-consuming. This is complicated even further if this information is housed across multiple spreadsheets in several databases. Fortunately, there are software solutions that make the process of asset management easy for small businesses and large ones alike. Tool tracking software allows businesses to register, track, and manage all equipment.

This will assist project managers and other staff with inventory management to ensure that the tools needed for any job are ready and available. Other iterations of asset management software platforms can perform the same functions for sales inventory and even office supplies. Employing this type of software will address specific needs and make operations run more efficiently.

Human Resources Management

img

Human capital management can be a complex process no matter how many employees a business has. From benefits management to employee information, HRIS software can streamline any human resources department. What are some HRIS systems benefits? A strong human resource management system could help any business with workforce management as human resources are responsible for payroll, benefits administration, employee engagement, and many other time-consuming tasks. To streamline tasks and simplify workflow, an HRIS system brings processes, paperwork, and jobs together in one central location.

Financial Management

img

Perhaps one of the biggest time-consuming tasks for any business owner is financial reconciliation. Financial software platforms can help users integrate multiple bank and credit accounts and set up easy access to track all income and expenses. This type of software solution organizes debts, payments, and invoices and offers robust reports to identify financial trends. Many of these financial management software options utilize a dashboard and even a mobile app to send invoices, scan receipts, track sales taxes, and more. With the right tool for accounting processes, a software platform can eliminate hours of pouring over receipts and transaction data.

Communication Management

img

In the fast-paced business world today, communication is key to success. Business owners need to be able to reach all stakeholders with critical information and updates. Communication software solutions can eliminate the inefficiencies and delays of email communication. Many of these programs allow users to invite stakeholders and create channels that can be organized around a company’s needs. Besides communicating in real-time, this type of software can offer integration opportunities and allow teams to share files, create polls, schedule meetings, and connect to project management resources. They also offer cloud storage and productivity tools. Messaging and collaboration software can make the workplace more efficient by streamlining communications.

Investing in software programs are worth the cost for businesses if they increase efficiency and create more time for owners to focus on tasks that help the business grow. These software solutions can help companies meet long-term revenue and strategic planning goals. Any software that helps with automation in areas such as asset management and communication is well worth the investment.

Rylie Holt