Have you dismissed the idea of adopting new software into your business because you thought it would be too expensive and time-consuming? In actual fact, digital tools can make it easier for you to run your business by saving you time on back-office tasks such as managing orders and doing the books. They can also save you money in the long-run as you’re only paying for what you need rather than splurging out on maintaining outdated systems which no longer do the job!
Not only that, there are plenty of software options which offer free and trial versions so you can try before you buy.
Here are 7 ways that software can help take the stress out of managing your business and finances:
Accounting and bookkeeping
There are plenty of solutions available to help you with managing your invoices, cash flow, expenses and submitting tax returns. This can not only save you time and effort, but also helps reduce a lot of the anxiety associated with managing your finances!
From April 2022 Making Tax Digital came into force. All UK VAT-registered businesses must now keep digital records and submit VAT returns to HMRC using compatible software.
Payroll software gives you the functionality needed to meet your particular payroll processing and reporting needs. Most services comply with the basics of HMRC.
These can be tailored to meet needs such as specific payment intervals and integration with other business systems, such as compliance with different industry schemes.
Although a Customer Relationship Management (CRM) system is ultimately designed to help you better understand your customers, it is a great tool to help you understand the value they could bring to your business and to make informed decisions about how to communicate with them.
Think of your CRM system as a tool to help boost leads, sales, and profitability as you will be able to better target your customers, at the right time and with the right message.
Electronic Point of Sales systems are essential for businesses working in retail or hospitality sectors. This software manages the checkout operation and is what the customer sees when they make a transaction. EPOS can also be used across your business as part of an IT system, connecting into back-office stock control, ordering and CRM applications.
EPOS systems are another great tool for automating and better understanding what you’re selling, what needs re-ordering and will make sure you’re reducing wasted products and money; meaning greater profit from more targeted selling.
If you’re looking to grow sales, it might be worth considering the payment options you provide to customers. By expanding the payment methods you offer and providing a selection of different card terminals, you will be better placed to take payments in person, online, over the phone or by smartphone.
This could help to boost sales by allowing your customers to pay by the method that best suits them, rather than having to turn away potential customers because you don’t have the capability.
A booking or reservation system is a great tool for businesses looking to streamline and automate how they store customer information and take payment. This is particularly useful for businesses related to travel, hotel, car rental, B&B accommodation, events, and other activities.
You can improve customer accessibility by allowing them to make and manage their bookings or orders by PC, tablet, or smartphone. This ensures the transactions are processed and confirmed online instantly and securely. Some customers prefer immediate bookings and would rather not have to ring up a busy business, so this saves you both time and effort – it’s a win-win situation.
HR management software
If you employ staff, it can be really time-consuming to stay on top of things like holidays, working hours, rotas, and sickness, if you’re doing it manually. HR software can help you centralise all of this in one safe place online. So, if you want to know who’s in work, on holiday or off sick on any particular day, you’ve got easy access at the touch of a button.
There’s a huge range available and what’s best for your particular business depends on what you want your HR tool to do. For example, do you need a system which makes clocking in and out easier, one which allows employees to log in and book leave, or just somewhere to store employee records online?