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What software tools should I use to run my business?
Whether you’re launching a new venture or managing an existing
business, re-evaluating systems and processes is always a positive
move in ensuring that your business is being run to its fullest
potential. Implementing change can often be an intimidating
prospect; but technology is revolutionising companies of all sizes,
driving significant growth at often minimal investment.
With 91 percent of small businesses still using spreadsheets, pens
and paper to manage their workforce, now could be the perfect time
to introduce software tools and solutions to your business.
Evaluating client needs, monitoring employee attendance and time,
keeping paperwork in order, measuring success and maintaining open
communication all benefit from the use of dedicated software
The time spent managing expenses can also be reduced by utilising
software solutions such as those provided by Soldo. The process of
sorting and submitting payments takes hours of valuable employee
time, which could be spent more productively in driving the
business forward. Verifying expenses and wading through receipts
also takes up your finance team’s valuable time. With the Soldo
app, employee reports are automated, with the ability to integrate
directly with existing accounting software.
Here are some of the areas where software can help streamline your
Finances are at the heart of running any business, regardless as to
industry, and payroll processing is often challenging. Inaccuracies
and errors can quickly snowball into a nightmare, affecting cash
flow, productivity and stability. Payroll software, however, allows
you to review deductions and address any errors before submission.
Taxes can even be filed automatically, saving your business hours
in completing paperwork.
Business analytics software was considered too costly for small
businesses until recently. However, it has now become far more
affordable and easier to implement. It is rare in this digital age
for a company to not have a website generating leads, selling
merchandise or creating awareness of its service or products.
However, having a website is not enough; the success of the site
must be tracked and adjustments made on the basis of on-going
analysis. There are a variety of free tools available, such as
Google Analytics, which monitor website analytics, visitor
geography, average duration and traffic percentage on each page.
These insights allow you to refine the website and your search
engine optimisation efforts accordingly.
File sharing and collaboration software
Organisation is vital to running a successful business, with a
range of zero cost solutions now available to manage documents and
files which can be accessed at any time from any location. As your
business grows, so will your team of contractors, service providers
and employees. Collaboration and communication tools help
streamline processes and share information among workers.
Utilising tools such as Dropbox or Google Docs allows you to share
and store files of any size. Documents, images and videos stored in
the cloud can enable easy access for nominated team members.
Human resources software
There is a common misconception that software for human resource
management is only for companies with a larger headcount. However,
HR solutions can add value for companies of any size. Employees can
submit a range of documents and manage holiday entitlement in
collaboration with the HR department (or business owners in smaller
Expense management software
Traditionally, employees pay business expenses from their own
pockets and have to wait to be reimbursed, which can adversely
affect morale and leave low-income employees and graduates in a
tight financial spot. With a prepaid business card such as that
provided by Soldo, employees no longer have to pay for expenses
themselves, with our app enabling the on-the-go electronic capture
and submission of receipts, eliminating the risk of losing proof of
Excessive company spending can also put your business at risk. With
the ability to define limits and rules for each employee on a
prepaid card, you can regain control of company expenditure and
avoid unpleasant surprises at the end of the month. Our dashboard
allows transactions to be viewed real-time and integrates with
major expense management applications including Sage, Quickbooks
and Xero, further reducing the time taken to input data.
Customer relationship management software
CRM (Customer Relationship Management) software is used for track