Anyone who is self-employed and runs their own business knows that it can be hard work and bring its own challenges. In light of this, it is wise to get all the help you can to work smarter and be more productive. Business management software packages are certainly helpful and can improve efficiency. Using the right accounting software in the right way can also enable you to plan for the future and grow organically. When it comes to being a self-employed freelancer or business owner, we all know that time is one of the most important things in our lives, so having software that helps us to streamline our day and workflow, is absolutely essential to maximising our productivity. In this article, we take a look at three business management software’s that every business owner needs in their arsenal.
3 pieces of software self employed business owners should look to invest in
1. Accountancy Software
One of the key areas any business must get right is their accounts seamlessly. Focusing on this will not only keep your business finances in good order but also help you to plan for strategic growth. It is also essential so you can submit any UK tax returns to the Government by the relevant dates. In light of this, investing in accountancy software is a must for all types of organisation.
This sort of software not only makes it much easier to handle daily tasks like invoicing but also comes with reporting functionality to track your finances. It also enables you (or your accountant) to easily access real-time data for tax or VAT returns. If you have set up as a Limited Company, make sure to invest in specialist corporate tax software. This type of accountancy package will make calculating CT600 returns much simpler and do all the hard work for you. As all Limited Companies have to pay this tax on profits, corporate tax software is very useful.
2. Customer Payment Software
The global online shopping industry is thriving, with ecommerce revenue figures for 2020 coming in at just over $4 trillion. This means that secure online payment solutions for customers are essential to many companies now. People would not be able to pay for the goods you offer online otherwise!
Even if you do not sell goods online, people may still expect to pay for your services digitally via your website. This also means it is crucial for most organisations to invest in payment software. But what if you do not operate online and only deal with physical payments from customers? In today’s world, people still expect you to offer digital ways of making payments in person. This also means investing in customer payment software like Stripe is worthwhile.
3. CRM Software
Customer Relationship Management software is also a wise investment when running a business. In simple terms, it enables your company to track, manage and understand customer relationships better. Without this kind of software in place, it can be time-consuming and difficult to accurately do this.
CRM packages though come with easy to use interfaces and outstanding reporting functionality. This makes it easy to drill down into customer engagements and understand what drives their behaviour better. Over time, this can help you to improve your service, see which promotions people respond to best and refine your marketing campaigns. Good examples of CRM software include Zoho and Salesforce.
Software is Central to Running a Modern Business
Technology plays a huge role in all our lives now and this is certainly true for business owners. Running a modern company relies heavily on tech-backed software solutions. Although there are many business areas software can help out with, the ones we have looked at above are the most crucial. It is therefore worth considering investing in software solutions for accounting, customer transactions and CRM.