Are you a business owner? If yes, then you must be juggling between the multiple operations required to run a business. To gain control over these dynamic operations, it is vital for you to be aware of the best business management software present in the market that can help you to go digital.
In this competitive business environment, every business owner needs to optimize the business solutions to stay on top of the market. The business management software solutions are designed to assist in the business operations. They help to increase efficiency, helping businesses to improve the performance and profit margins.
The transition of digitizing the company needs to be smooth to ensure there are no interruptions. Besides conducting training, the management needs to follow steps to capitalize on digitizing. This market is likely to grow from the year 2021 to 2028 at a compound annual growth rate of 11.3% .
Business Management – What Is It?
Business Management is the management of the operations that are needed to run a business and the management of the resources that are used to achieve these processes. It is the planning, leading, directing, organizing, and staffing of an organization. The business operations have been divided into departments for better management.
How Does Business Management Software Help?
Digitization of business processes lead to the advent of numerous business management software solutions. Some businesses use free business management software for small businesses that have limited features while large businesses with complex operations often need the paid versions.
The business management software products are designed depending on various factors including business size, industry, and its associated dynamics. While some software solutions are designed for specific departments, for example, software for human resource management or procurement.
Some software solutions are very powerful with complex features, thus it can cover the operations of all departments. In this case, the business can acquire a single software for the entire organization. The market value for business management software products was recorded as USD 389.86 billion in 2020.
Installation & Deployment
The software can be either deployed on premise on the current hardware of the organization or it can be cloud-based. Cloud-based software enables the company to run remotely as the system can be accessed from anywhere. The user interface can be web-based, cloud-based or desktop based depending on the features of each software.
Integration & Transition
Once the software is purchased, a smooth transition is important to avoid any delays in the business operations. The system integration needs to be carried out by an experienced person to streamline all the processes for users.
Installation and integration of the software is followed by employee training. This is to ensure that everyone in the organization knows how the software can be utilized for their tasks.
All Time Best Business Management Software
The market is full of business management software products but every businessowner has to find the right fit between the business requirements and what the software has to offer. Let us move forward to discuss some popular software solutions in the market.
1. PackageX Mailroom
If you are a large organization or residential area management, you must be receiving parcels on daily basis for your residents. PackageX Mailroom is your answer to handling numerous packages, ensuring they are not lost or delayed.
It uses machine learning and computer visioning technology to accept packages from delivery companies and automatically send out notifications to the recipients with a single scan. This technology ensures that the mailroom is no crowded with packages.
The user can take a picture of the package to send to the recipient, making it a zero manual entry software. The recipient can also communicate with the mailroom management to request further instructions about the package, such as holding the package, discarding it, or sending it forward.
The package collection is also contact-free. Another salient feature of the app is that multiple packages can be scanned in one go, followed by a single click notification to the corresponding recipients.
Hub Spot is a set of tools for dealing with sales, marketing, and customer service. The different hubs streamline all the necessary tools for successfully running sales and marketing services by providing the users with engaging tools and necessary data.
These features enable the users to convert potential customers into long-term customers using great sales strategies and lead follow-up. The Hub Spot has 4 different apps: · Marketing Hub · Sales Hub · Service Hub · CMS Hub
The Marketing Hub enables the users to automate the process and generate leads. The process analytics allows the users to study their process and find out the impact of each process. The user can run a complete inbound marketing campaign at scale and efficiently convert visitors to customers by attracting potential customers.
The Sales-Hub has an advanced CRM that automates processes while giving you deeper insights into sales so you can close the deal faster. It is a great sales engagement tool with configure price quote (CPQ). Content Management System lets you create a powerful website with easy-to-use content managing features. You can create personalized pages tailored to the needs of your visitors.
The Service Hub is what gives the users to be proactive in the customer service by having easy access to all the necessary data needed to meet customer queries. This tool enables the users to provide prompt responses to the customers.
3. Zoho One
Zoho is an end-to-end system for digitizing all your business processes through its single operating system. The software has created different applications to meet the operations of each department; however, the Zoho One integrates these applications into a single operating system for an agile business solution.
The features can be customized based on the requirements of each department. The all–in–one solution also prepares the business for flexibility in different circumstances. It can assist in making an organization remote and help in creating a powerful website.
The customer service features can be fine-tuned to create a personal experience. Similarly, the entire sales process can be mapped out to automatically close the deal with steps such as, assigning leads, follow-up tasks, and personalized follow-up.
The Lead to Cash feature allows the sales team to have all the leads in one place with all the relevant information. Additionally, automated follow-up processes can be set up too. Furthermore, the HR feature allows quick on-boarding of new talent, besides assisting in finding new talent.
4. Odoo Inventory
If you are looking for the best inventory management software, Odoo Inventory is the answer. Fully integrated open-source inventory management software for managing warehouses and improving their efficiency. It is the perfect solution to today's warehousing strategies like drop shipping, cross-docking, and multi-warehouse.
The software integrates all the processes of warehouses including, purchasing, deliveries, inventory count, and automatic packing. This can be installed on-premises or can be cloud-based. This tool allows warehouse managers to track every move of the stock and send out an automated request for stock. The stock can be traced from the purchase point to the warehouse and then to the endpoint, which is sales.
Using this tool, the inventory can be kept low to reduce overhead cost, while ensuring that there no stock-out.
5. Contract works
This contract management tool is a must-have for your business. Businesses involve many contract agreements taking place with employees, partners, suppliers, and clients. Digitizing contract management makes it accessible for all.
This software also assists in contracts taking place over long-distances. Supporting global businesses, the contracts are exchanged and signed online with digital signatures, thus making the contract management cycle convenient for all.
The software sends out alerts, reminding the team of important milestones that should not be missed. The users can be satisfied with the document security as it has the best security system integrated that keeps the documents access restricted.
Users can also generate reports about specific contracts based on value or contract type. Additionally, Contract Works saves you from missing any upcoming renewals.
This is a visual collaboration tool designed for projects, teams, or any workflows. It keeps everyone on board so they can see the progress on the project, track the workflow and be able to comment or share.
This is a project hub that enables your team to collaborate on the project board. It has more than 100 integrations with powerful software solutions like Google Drive, Jira, Slack, and more.
Besides the Project Board, which serves as a canvas, there are project Lists and Cards that are used to create a workflow. Cards are the fundamental part of the board that are used to record ideas and tasks, and can be moved between the lists until completion. While Lists are used to keep the Cards organized, representing a workflow or a process.
To create a new List, you can simply double click anywhere on the board and name your new List. To create a new Card, you can click on top of the List. The Lists and Cards can be named as required.
The software is very simple and similar to sticky notes. It does not require cumbersome processes, but very simple steps to create a project board and bring on the desired team involved? The software brings transparency into the system.
7. Toggle Track
This is a time tracking app that is crucial for every company that is working remotely these days. A cloud-based app, digitizing traditional timesheets; is a perfect tool for recording flexible hours.
Users can easily generate reports that graphically present the time log through charts. Besides employee performance, it also gives insight into the time spent on each project. The data can also be extracted into an excel sheet.
Moreover, Toggle allows users to generate automatic weekly reports that can also be shared with clients for transparency. System integration facilitates users to generate automatic invoices depending on the time log for payment.
Some salient features for employee time tracking include offline time tracking, billable and non-billable hours, salaried employee tracking, and tracking of browsing history.
Who Uses Business Management Software?
Every business has a digital solution available in the market. Small business owners need to identify what they want to accomplish based on which they can find a relative software solution.
Traditionally, small businesses keep manual records. However, as businesses expand, the number of operations in each department increase as a result of which it is difficult to compile and retrieve the data. Software solutions become crucial at this point.
Let us analyze how each department uses these business management software solutions.
1. Human Resource
The Human Resource department is responsible for all functions related to the employees. The department takes care of employee hiring, onboarding, and attendance. Another important duty of the department is processing vacations and manning the office accordingly to ensure smooth workflow.
In large organizations where there are many employees, HR ensures that accurate records are kept of each employee. This is done to ensure company security. Another important task of HR is to attract the right candidates, which is done through HR systems that scan CVs, thus saving time.
The HR must find business process management software to support in carrying out all the HR processes efficiently.
The sales department uses the Customer Relationship Management (CRM) software to improve sales performance. HubSpot is one of the best examples of CRM software. This software allows the sales representatives to have mobile access to all the tools as they are always on the go, trying to reach out to the customers. Similarly, the app has a lead management tool, allowing the reps to keep a record of the important leads and the relevant information that can be accessed easily.
CRM software automates the sales process, leading to sales forecasts and increased sales. The automation allows the sales rep to send follow-up emails to the customers.
3. Accounting & Finance
Business process management software designed for accounting and finance lets you move beyond your spreadsheets and streamline the accounting and finance operations such as payrolling, billing, budgeting, purchasing, and reporting.
The automation reduces the time needed to get these tasks done besides eliminating human errors in calculations.
4. Admin & Reception
The reception of large organizations is often over-crowded due to multiple requests of visitors. Primary operations of a front desk that can be supported using these apps include self-check-in, security & health screening, and handling packages.
This is where visitor management software like PackageX Mailroom come in handy. The software automates the front desk operations so customer requests are processed quickly. For example, PackagesX handles packages with barcode scanning and automatic notifications to recipients, thus it speeds up the package handling operation.
5. Supply Chain & Logistics
Inventory management software solutions have transformed the operations by keeping track of the stock and sending out automated notifications to suppliers.
It is also used in shipping finished products to customers which are initiated when notifications are received for product demand. Odoo Inventory is a good example of the best inventory management software for small businesses.
Looking at all these unique business management software solutions, we can see the possibility of the transformation of businesses through digitization.
Owners of businesses should promptly analyze their business processes and acquire one or more of the above-mentioned business management software. The results will be outstanding, as the profit margins improve through efficiency and automation. It is important to keep in mind that the software should be chosen depending on requirements of the business.