Software is something that we use in our daily lives, as it is a network of programs that executes specific tasks. The most commonly used software is installed and constantly updates on our smartphones, but the software is also installed on computers and laptops— which is the case for most business software. Business software can also be installed and accessed on mobile devices. If you’re a business owner looking for a new software system, here are four types of services that you should look for.
#1: Customer/Client Management
While you’re servicing your customers and clients in person, there also has to be some behind-the-scenes work to create customer/client satisfaction. For this reason, it’s important to make sure that your business software includes a customer relationship management (CRM) function. Having this function will allow you to make sure that you’re meeting all of the expectations of your customers or clients— or both.
A CRM software solution allows you to see and understand how you’re interacting with both current and future customers. It keeps track of the sales history and other data of your current customers to help you come up with new marketing campaigns.
#2: Employee Management
If you’ve just started your business, you may not have any employees at the moment— but you may have to hire once you grow, and you’ll need an employee management function as a part of your software. This is also known as Human Resources or HR, and this function of business is one of the most outsourced. Instead of spending money by hiring another company to manage your employees, you can invest in a software system that does this for you.
HR software can take over the onboarding and even training of employees for you, and it can even give employees access to things like requesting a pay raise. Also look for a payroll function that automates the calculations of employee earnings, including bonuses. You’ll also be able to print off employee tax forms.
#3: Financial Management
Speaking of payroll and taxes, many software systems also offer finance-related features to help you run your business. These include bookkeeping, invoices, financial reports, and even currency conversion. If your business serves people across the globe, you’ll need a function that can also support different languages and tax laws. This makes it easier to offer your products/services to a broader audience.
Other aspects of your finances to have automated by the software are planning and budgeting. This software solution will provide everything required to create both budgets and financial projections. Depending on the software company you choose, you may even be able to run trial scenarios to get a better idea of your projections.
#4: Operations Management
Several operations within a business need managing, and many of these operations can be automated by a software system. For example, if your customers can place orders with your business online, an order management function can see your customers’ orders through from placement to shipping, and even returns. Automating this function allows for quicker and more accurate order fulfillment.
Another important operation (particularly for businesses that sell products, as opposed to providing services) in your inventory. A function that manages inventory will give you a real-time view of all of your products as they sell and as more inventory comes in. For businesses that have their own warehouse, a warehouse management system is also helpful. Not only does this keep track of your warehouse inventory, but it also helps streamline order picking and returns.
If you also manufacture your products, you’ll need a manufacturing solution as a part of your software. The GSI team at JD Edwards can help you find the managed services you need from business software.
The bottom line is that to successfully automate all or most of your business functions, you’re going to need a software system with many different functions and capabilities. Not all businesses are the same, and not all software systems are the same, so it’s important to shop around to find the best type of software for your business. Determine which functions will make the most sense for your business now and also what you think you’ll need in the future as your business continues to grow. Having the right software solutions will also help contribute to the growth of your business, so it’s not a bad idea to get more functions than you need at the present moment.