Best Software for Small Businesses
Taking a quick trip down history lane and a quick look into the evolution of business and entrepreneurship, one will observe how significantly the way we do business keeps changing rapidly. There are various software solutions available in the market today to help organize and improve your productivity. However, choosing which software is best for your business from the wealth of options available can be challenging. It becomes almost easier when you know why you need software for your small business.
Organizing the Work
To improve the quality of work, reduce business running costs, maximize productivity, and efficiently manage time; business software solutions have become a must-have for small businesses. We highlight below the top five reasons why business software solutions are essential for organizing and improving productivity.
- Simplicity and Ease: If you run a small business or start-up, the odds are you are understaffed, and the few employees are already working at maximum capacity. Software solutions help you simplify and ease the burden on your employees.
- Time Efficiency: Software programs for small businesses help automate complex and time-consuming processes. Time saved can be spent on other work, which would increase the business's output and productivity.
- Manage Finances Better: You can use the best business accounting software for small businesses to help with bookkeeping tasks like invoicing, billing, and accounting. You get paid faster and do not need to bear the burden of reminding your clients when a payment is due or late with the help of automated invoicing software.
- Customer Relationship Management: A business needs to build and manage a good relationship with its customers to ensure continued patronage. This is where CRM software comes in. Customer Relationship Management software helps businesses track and communicate with customers and potential customers.
- Eliminate Human Errors: A fundamental human flaw is the propensity to commit blunders and errors, especially when there is a difficult task to perform. The more the task, the higher the chances of error. This is not the case with software solutions.
Types of Business Software
Depending on the type of business you operate, there are various software tools to match your needs. However, some software are vital for every small business to cater to their business needs.
Best Accounting Software for Small Businesses
Accounting software help you manage your business’ finances more easily and efficiently. It tracks income and expenditure and saves time spent on manually inputting figures. The features can vary depending on the software you settle for, making it imperative to combine multiple accounting software occasionally. However, the fundamental purpose of accounting software is to keep track of your business's financial condition.
Benefits of Using Accounting Software
- Reconcile Bank Statements: Accounting software can be connected to your bank accounts, making it easy to reconcile your bank statements and access your business account from one central location.
- Easier Access: You can access everything about your business’ finances anywhere you go with internet access.
There are many accounting software in the market. Choosing the best software for your business would depend on your business needs, industry type, number of employees, and budget. Intuit's QuickBooks, SlickPie, FreshBooks, Wave, Sage50 are some of the best accounting software solutions available for small businesses.
Best Tax Software for Small Business
These are software programs that help businesses accurately file their tax returns, even with little to no tax knowledge. A tax software is specially designed to help businesses with taxation tasks.
Benefits of Using Tax Software
- No Tax Knowledge Required: Tax software is designed to help business owners and average taxpayers file their taxes even with no knowledge of taxes and accounting.
- Automated Process: With a tax software, small businesses can automate the process of filing their taxes. All you have to do is input relevant tax information into the software, and it calculates how much you owe, and your expected tax refunds.
Some of the best tax software available for small businesses include TurboTax, H&R Block, Tax Slayer, Tax Act, Liberty Tax.
Best Inventory Management Software for Small Businesses
Inventory Management Software helps small businesses track and update products across their sales channels. It can be challenging to keep track of all the products available manually. This is the problem inventory management software solves.
Benefits of Using Inventory Management Software
- Simplified Inventory Management: The process of manually keeping track of your inventory as a business owner costs time and money, but this software make it seamless and easy.
- Better Business Decisions: The data obtained from using inventory management software can be used to make strategic and effective decisions to increase sales,
- Prevent Overselling: If you are into e-commerce or retail, overselling products you do not have in your inventory is not good for your business. Inventory Management Software helps businesses update stock levels on all platforms simultaneously, preventing overselling.
There are different types of inventory software tailored for different types of small businesses. However, Zoho Inventory, Ordoro, Inflow Inventory are our best picks.
Best Invoicing Software for Small Business
Manually preparing invoices for every order can become a tedious chore. However, with the help of invoicing software, the process is more manageable and automated. Invoicing tools can also have payment gateways, creating an effective and secure channel for receiving payment.
Benefits of Using Invoicing Software
- Faster Payments: An invoicing software automatically sends out invoices before due dates, creates gateways that allow customers to send payments via the invoice seamlessly. These translate into timely payments.
- Less Paper Work: One thing you do not want as a small business owner is piles of paperwork. An invoicing software saves you the hassle with seamless digital and online invoice management.
- Saves Time and Money: They say time is money. This is true because the time spent on completing tasks that could be automated reduces your productivity as a business.
InvoiceNinja, FreshBooks, Square, Zoho Invoice, Invoice2Go are some of the best available in the market for small businesses.
Best CRM Software for Small Business
CRM software (customer relationship management software), also referred to as Sales Force Automation (SFA) software, helps small and big businesses track and manage customer interactions. A CRM software is used to engage and build business-customer relationships.
Benefits of Using A CRM.
- Building Trust and Loyalty: Brand trust leads to continued patronage (brand loyalty) because consumers will only pay those they trust to deliver the actual value of their money. A CRM will improve the interaction between small businesses, their customers, and potential customers, leading to increased trust.
- Improved Customer Service: Automated chatbots, for example, can help businesses answer basic questions that customers may have in real-time. This automation increases customer service efficiency.
- Cloud Storage: A cloud-based CRM gives business owners and everyone on their team, access to comprehensive data about the business from anywhere.
Drip, Salesflare, SendInBlue, Constant Contact, HubSpot are some of the best CRM software solutions available for small businesses.
Best Appointment Scheduling Software
These are business software solutions that help small businesses increase efficiency in scheduling and booking appointments.
Benefits of Using Scheduling Software.
- Automatic Reminders: With appointment scheduling software, small businesses can automate email or text message notifications. It can be used to alert customers and employees on appointments.
- Staff Scheduling: Helps business owners monitor staff calendars in real-time.
- Centralized Calendar: You can set up appointments on your calendar and share them with other employees.
Some of the best tax software available for small businesses include Square Appointments, Acuity Scheduling, Appointy, MeetFox, 10 to 8.
The Cost of Business Software.
Although there are tons of free business software solutions for small businesses, you must be willing to invest some money to access the best software for business. Depending on the type of software, size of your business, and the plan you subscribe to, most business software plans range from $5-150$ per month. It is advisable to opt for an all-in-one software that solves multiple business problems. It helps to cut down on costs.
Other Helpful Software.
- Project Management Software: Project management software completes tasks like task distribution, budgeting, resource planning, time tracking, etc. Project Management Software includes Basecamp, Trello, and Monday.
- Editing Software: Content marketing is an effective way for small businesses to generate leads and attract loyal customers. It could be through informative and engaging social media posts or YouTube videos. Whichever method of content marketing you use, you will need editing tools to give your content a professional look. Editing software like Adobe Premier Pro, Adobe Spark Post, and Canva are the most preferred options by most small businesses.
- Presentation Software: Presentations are excellent means of conveying ideas and explaining company progress. They are also useful to explain your business model to potential investors easily. Top presentation software includes Microsoft PowerPoint and Slidebean.
We hope we have provided you with the necessary information you need to choose software to upgrade the quality of your work and grow your business. We guarantee that we will provide you with the best software available in the market to enhance your productivity.
What are business software examples?
There are tons of them, depending on what type of business software you need, which depends on what type of tasks you are trying to carry out. Examples of business software include Microsoft Office, Wave, Zoho, SlickPie, QuickBooks, Adobe Spark Post, etc.
How much does software for small businesses cost?
Although there are free business software solutions, you would need to invest some money into purchasing or subscribing for premium access to the best business software in the market. A paid business software can cost anywhere between $5-$150 per month.
What is the best software for small business?
The best software for your business depends on your business niche, number of employees, business needs, budget, and other factors.
Do I need accounting software for my small business?
Accounting software have become a must-have for small businesses. They help you manage the financial aspects of your business efficiently. Besides helping you save time and money, they also give you an edge over your competition.