You’ve done the hard part: You’ve started your business, filed for incorporation, and acquired the startup capital required to put your idea out into the world. Now comes one of the fun parts: Choosing the technologies and tools you’re going to rely on to support an efficient, profitable, and successful venture, including email analytics, finance and payroll, cybersecurity, inventory control, and data governance.
There’s no doubt that some technologies and software tools pay for themselves, but how do you choose the right ones? Cpa-Planner.com presents this non-exhaustive list of some tools you won’t regret investing in.
1. Email analytics tools
Are you ready to take your business from “good” to “phenomenal?” Look into an email analytics application such as Sortd and ActiveInbox. These comprehensive platforms measure your team’s email reply times so that you can use that data to boost the service they’re providing to your customers, along with other features like tracking how many emails are being sent and received in various folders. A lot of valuable data can be derived from email analytics, such as your customers’ behavior patterns, and the strong and weak points of your content.
2. Updated accounting and payroll platform
Your growing business will require efficient and accurate accounting practices. Choosing a platform that allows for batch invoicing and batch expensing as well as time tracking and payroll functionalities could be one of the best investments you’ll ever make. These kinds of platforms can keep you more organized, help you file taxes easier when it comes time for that, and save you time by using automated features.
3. Antivirus software
Recent statistics cited in Cybercrime Magazine show that 60 percent of small businesses shut their doors within six months of suffering a cyberattack. Criminals don’t care who you are or what kind of business you run; they are just interested in your money, and a lot of small businesses fall victim to their antics. Having antivirus software on your computers and mobile devices can make a difference. Viruses, ransomware, and other kinds of malicious programs can be guarded against if you use antivirus software. This means you can protect against data and money lost.
4. Inventory management system
This particular kind of tool speaks for itself. By investing in an inventory management system, MYTECHMAG points out that you can keep track of what products you have on hand, which you need to order, and where items are through various stages of the supply chain. As your business grows, you may need to have full visibility into multiple sales channels, warehouse management tools, and integration with enterprise resource planning tools — all of which inventory management software can deliver. These tools are much like the payroll tools mentioned above, as well, in terms of providing a way that your company can remain organized and keep better books.
5. Project management software
Project management tools help you keep track of what’s in the pipeline. No matter what kind of business you run, there will always be tasks to complete, and keeping an organized list is critical. One of the biggest benefits of these kinds of tools is the fact that you can keep everyone in your organization on the same page, and the dynamic functionality of some project management software allows you to keep track of what has been accomplished so far in each task.
6. Data governance software
Data governance is an essential key for businesses to manage data accessibility, security and usability. Having set data management parameters, a company is able to resolve data issues when they arise as well as help make decisions with high-quality data. Data governance is a continual, round-the-clock activity with a big scope, as it deals with everything data-related including warehousing, integration and business intelligence. Look for software that features simplified data access control, automated auditing and reporting, and enhanced data privacy.
With these essential software packages you can ensure your business will run more efficiently and safely. Most can be downloaded from the cloud, and some are even free for use, so you can be using these tools in no time.