Starting a Small Business? Here Are 7 Software Systems To Put in Place
Starting a small business can be immensely rewarding, but it is not easy. In the beginning, you may not be able to hire employees, implement software and have to handle all the day-to-day operations, such as taking payments with your Clover credit card machine, yourself. This is necessary to stay afloat but doesn’t give you much opportunity for strategic planning of your long-term goals, which is necessary to the continued existence of your company.
Fortunately, you can relieve some of the burden by leveraging the power of technology. There are many software systems for small businesses that can handle a lot of the mundane tasks more quickly and efficiently than you could. This frees more time to handle the more complex tasks requiring analytical thinking and planning.
1. OPEX/CAPEX Management Software
Operational expenditure refers to the money that you spend to keep your business going. An example would be credit card processing fees unless you levy a credit card surcharge on your customers. Capital expenditure, on the other hand, is money that you spend before you actually set up your business. Management of both is essential, especially when you are first starting out.
2. Invoice Management Software
Just about anything related to finance in your company requires you to either make or receive invoices. Invoice management software allows you to organize your invoices on an ongoing basis and audit them at the end of the fiscal year.
3. Process Management Software
The success of an organizational structure depends on processes. It is no longer necessary to bog down the processes with a lot of paperwork. Process management software helps streamline the process by moving to a paperless model.
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4. Accounting Software
When you run a business, you may have multiple credit cards and bank accounts to take care of, especially as the company continues to grow. Benefits of accounting software include:
- Identifying cash flow trends through detailed reports
- Keeping track of income and expenses
- Scanning receipts
- Setting up recurring invoices
- Organizing accounts and payments
Accounting software can help you keep your financial records in order. This can make matters a lot easier when it comes to tax time.
5. Marketing and Website Building Software
Many business owners rely primarily on digital marketing techniques to reach customers. Marketing software makes it easy to make effective email advertisements using templates and then send them out to customers. Website building software provides your company with a home on the internet where customers can visit and see what you’re about.
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6. Employee Onboarding Software
Once your business really starts to get off the ground, you can start to hire employees to help you. Employee onboarding software helps to streamline the hiring process by performing automated background checks on candidates and assigning them to teams once hired.
7. Leave Approval Software
Once you have employees, they will occasionally need to ask you for time off from work. Streamlining the process with leave approval software is not only easier for you, but it is also more convenient for your employees, who will appreciate your thoughtfulness and concern for their obligations outside of work.
Putting software systems in place can save you a lot of time, which you can then turn into money by focusing more of your attention on achieving your long-term goals. Find out how you can start taking Clover contactless payment and more.
Are you running a small business? We would love to hear which programmes you use in your business or if the suggestions in this article have inspired you. If you have found this article of any value we would love for you to share it with your friends and family, on social media and beyond!