Essential Technology that Every Small Business Needs
Running a business often entails repetition of tasks and processes that can be optimised with the help of technology. Regardless of the type of business, there are some technologies that every business needs to improve efficiency of processes.
- CRM software
When you’re just starting your business, handling clients and remembering all their details comes naturally. However, as your business begins to grow, the clients increase and managing the same information efficiently becomes more challenging.
A Customer Relationship Management (CRM) software will facilitate centralising customer information and managing customer relationships well to optimise sales and help you reach your goals.
A CRM software is a central and powerful database that consists of all key information about your customers, suppliers, employee and leads. It also allows you to see real-time sales forecasts and key business data.
If you want to stay organised and find all relevant data quickly, a CRM system is the way to go. It’s even more essential because it facilitates other important technologies that are needed by your growing business.
- HR system
Every business, irrespective of the size, requires an HR system in place to handle all the basic HR record-keeping including payroll and employee records. Without an HR program to handle these basic processes, your HR team members will spend most of their productive time doing such repetitive, manual tasks.
Having an HR system in place will not only let your HR team focus on essential projects like employee training programs, recruitment and employee grievances but it will also do away with all discrepancies, making your HR processes extremely efficient and reliable.
- Accounting software
Handling the accounts and finances manually is tedious and time-consuming while using a spreadsheet is inefficient. An accounting software will save you the trouble on both counts and help you manage everything right from your accounts payable and receivable to creating invoices.
Accounting software also allow you to review your financial statements like the balance sheet and income statement, churning critical data and offering valuable insights. This will help you not only in book keeping and filing taxes but also in making key financial decisions.
- Communication tools
Quick and efficient communication with large groups is key for all businesses to make and execute important decisions and grab opportunities. Communicating a new product or discount offer to customers is just as vital as communicating a new office policy to your employees.
There are communication systems that allow you to communicate in a quick and engaging manner with predefined groups. You can see who is reading, sharing and clicking your email, when and where.
Procuring and maintaining such software can take a considerable amount of money, however, it’s essential in order to save you and your team time and money in the long-run.
Apply for a business loan of up to Rs.30 lakh with Bajaj Finserv to help you procure such essential software as well as to help you with maintaining your inventory, meeting your working capital requirements, and more.
The business loan interest rate is attractive and flexi loan facility is available, which allows you to withdraw and repay funds as per your business financials. Bajaj finserv offers business loan that make the process of financing even easier. Fill out a few details to check your pre-approved offer now.