The wave of technological advancements made over the course of the last decade are changing the way small businesses compete in modern markets. For many small businesses, technology can help increase business efficiency and even expand operations by giving entrepreneurs the ability to do business from anywhere they choose with increased speed and accuracy.
As technology continues to advance, small companies are enjoying the benefits of increased productivity and profitability — both of which help small businesses become more competitive. Here are a few of the technologies small business owners should consider:
1. Time-Tracking Software
Time is one of the most critical assets in business and if it’s not monitored, it will likely get the best of you and your business very quickly. Time-tracking technologies help small business owners determine which day-to-day tasks result in a profit and which do not. Based on this information, you are then able to determine which tasks can be eliminated or improved for more efficient business practices.
One such time-tracking solution is MavenLink. This tool allows small businesses to track time and expenses, manage project timelines, and better understand their productivity all in one place. This streamlined tool empowers businesses to achieve their productivity potential. What’s the best time-tracking software for your small business? Look here.
2. Scheduling Software
For small businesses, a scheduling system is a must. It’s important for companies to be as organized as possible if they want to streamline operations.
There are many online planning systems that help you keep your calendar organized.
For example, When I Work helps business owners improve communication, boost accountability among staff, track time and attendance, and grow business — all of which can be done on the go from a smartphone. Check out Capterra to find the best scheduling tool for your company.
3. Email Management System
Many entrepreneurs use several email accounts to manage the various aspects of their company. Sorting through accounts to find one specific email can be time-consuming. By consolidating separate email accounts into one account, you could make it easier to stay organized. In turn, you’ll be able to spend your time running your business instead of searching through emails all day.
Collabrate is cloud-based email archiving and collaboration tool that enables small business teams to collaborate and communicate directly within their email. Additionally, users can assign tags to emails based on project, client, location, or product, which allow others in the organization to view the email even if they were not originally included. Browse this list to find the best email management system for your small business.
4. Accounting Software
An efficient accounting software is an important tool for small businesses, whether or not you have your own accountant or bookkeeper. Accounting software allows you to see your profits and losses at a glance, which can help you design and maintain budgets, an integral aspect of remaining competitive.
Additionally, electronic invoicing and payment tools, such as Viewpost, help improve transaction efficiency by eliminating paper and increasing organization.
Whether you’re paying monthly bills or sending a standalone payment, electronic invoicing and payment tools make it easier for business owners to get the job done right from their computer.
Take advantage of the available tools made possible by recent technological advancements. These tools could increase productivity for your small business and set you up for success and growth.