It’s been a few years since Covid-19 shaped how businesses are operated. Mandatory isolation and social distancing protocols have made businesses realize that working remotely benefits more than working in traditional headquarters and office buildings.
If you plan to build a small company this 2023, this article is for you. We have compiled five must-have business software types to run your company anytime and anywhere in the world effectively.
Table of Contents
Accounting Software
Accounting software allows you to record and organize financial transactions, business spending, client invoices, and various accounting and finance functions that are vital to your company’s effectiveness in maximizing resources.
You can check out https://www.portt.com/analytics/spend-analytics/ to see what a typical account software would look like. Effective software brings long-term benefits to your small company, but there are two main advantages that such software can provide:
Syncs All Financial Data
From bank accounts and credit card spendings to other business transactions and payroll services, your financial data can be confusing at most. Accounting software allows you to sync all your data into one place; highly automated, so you don’t need to manually place all data and spend hours validating before making a comprehensive report.
Generates Key Financial Breakdowns And Reports
Accounting and finance take into account all business spending from various channels. With this software, you don’t need hours to pull up monthly reports and do analysis to generate critical reports.
With a click of a button, the software automatically collects your statements, revenue, and cash flows as well as balance sheets and generates critical monthly, quarterly, and annual financial insights. If you also need specific reports or add unique metrics, you can always customize how your reports look by adding extra functions and categories for specific uses to your company.
Marketing Analytics Tool
Marketing makes businesses thrive and promotes growth for success. Marketing analytics tools or software are programs that easily automate most marketing computations and transform your raw data into actionable marketing insights. It encompasses features and tools for planning, managing, and assessing various marketing efforts made by your company in various channels.
What this means for you is you can quickly see a comprehensive view of your marketing data, make sense of the numbers from various channels, and cut the time needed to generate reports, charts, and trends to see how your campaigns have been performing and identify metrics to improve further.
And since this is a software program, you can deploy this to your team members anywhere else and make their contributions at home.
Project Management Tools
Businesses unquestionably handle multiple big or small clients with each of their projects, tasks, plans, and assigned team. A platform where everyone can access, organize and plan projects online is vital for running a small company.
The core purpose of project management tools is to help your management team throughout your client’s project stages. Full-suite programs offer project planning, productivity tracking, and other features like forecasting, pipeline creation, and reporting.
This allows you to supervise your employees remotely and delegate tasks effectively. Suppose everyone has the same platform to work on. In that case, it makes their tasks much easier to complete and able to display accurate information on the productivity, status, and reports of their projects.
HR Software
This software helps your HR team effectively manage various tasks and service deliveries that you would typically see in their offices. Instead of the traditional paper filing of employee and contract information, all these can be migrated to your HR software to quickly search for an employee, check their details, and create requests for various functions.
A typical HR software includes these functionalities:
HRMS (Human Resources Management System)
Allows the HR team to handle employee information, contract and benefits, payroll and administrative tasks, a functional HR online help desk, and employee self-service options.
Workforce Management
Pertains to attendance monitoring, work scheduling, time-offs, and absences. Ability to record and note an employee’s attendance and additional employee self-service functions like the request for leave, early time-off, etc.
Talent Management
Involves talent acquisition functions like recruiting and applicant screening, onboarding, career planning, performance evaluations, learning and development courses, and succession processes. Talent management allows HR teams to identify positions that need to be filled and evaluate employee performance for promotions and career improvement.
Overall, HR software elevates the employee experience, gets on top of the business needs in finding or building new talent, and makes organization and workforce management easier. Other functions of your small company will appreciate this as HR can now effectively assist them with their long-term plans for your company regardless of location.
Employee Productivity Tracking Software
There are new technologies where companies can track and monitor employee performance remotely. As you build your small business, measuring productivity is vital for growth and identifying actions to increase it further.
By tracking your employees, you can identify internal issues you can address effectively; employers can help their employees improve their work and increase productivity. This also gives an avenue for training opportunities for people who may be underperforming.
Final Thoughts:
Building a remote company is a new concept brought about by recent global events. With various studies confirming that remote work is as practical as any traditional business, you must be equipped with the right tools and software to effectively manage projects, promote productivity and make business operations smoother.