5 Types of Business Technology Every Entrepreneur Should be Using

5 Types of Business Technology Every Entrepreneur Should be Using

Running a small business can be difficult; you have to do multiple things simultaneously – and sometimes it’s not enough. However, technology proves to be handy when it comes to streamlining things and helping you save money and time.

In fact, most successful companies depend on technology for almost every aspect of their businesses. And while there are many types of technology available, choosing to go digital does not have to be a headache.

The following are some common types of business technologies you should know:

Productivity software and tools

Every successful organization excels on a simplified workflow to meet vital timelines. Productivity tools like Microsoft Calendar and Google sheets can be of great help. Google sheets is an online collaborative spreadsheet used by business owners to organize sales, financial plans, customer lists, and other business data with their team.

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Google Hangouts is an excellent productivity tool that can help you start a video call or even text your colleagues at any time. This will, in turn, save you money and time in gathering everyone in one place.

Customer Relationship Management System (CRMS)

Part of a business’s successful business strategy is understanding consumers’ behaviors and using the data collected. This is where a customer relationships management system comes in.

Typically, CRM enhances your business performance by boosting up-sell and cross-sell chances. Cross-selling is when a customer is offered a free product almost similar to the product they buy.

On the other hand, up-selling is when you offer a customer a premium product related to those they buy. CRM allows you to perform these strategies with ease. You will know what your customers want and their pattern of purchase. Your sales team can then use this information to identify the appropriate time to promote specific products.

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Financial accounting system

Like manual bookkeeping, a financial accounting system allows business owners to manage their revenues and expenditures online. This said, the right system will depend on the needs and size of your business.

QuickBooks will be the best if you are running a small business as it is easy to set up and retain. On the other hand, accounting systems like Sage Accpac and SAP Business One will be best for you if you are running a big business. This software provides you with more integrations and customization with other systems.

Inventory control system

Modern entrepreneurs use the inventory control system to handle all inventory. This system tracks product supplies digitally. For example, the system automatically updates every time new inventory arrives or whenever a product is sold. So, by having such a system in place, your company can keep correct records when managing inventory and have the right amount of supplies in your store, depending on your company’s financial plan and sales prediction.

Social media scheduling tools

Small business owners know the significance of social media to connect with their potential clients. However, being on social media can be time-consuming. Most people go to their social media apps, only to snap out of it some minutes later. The good news is that social media scheduling tools allow you to schedule when you want your posts to go out public without getting into the social media accounts. The best part is that you can write your content early and start your promotion when you want to grow your business without spending a lot of time on social media.

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Bottom line

There are many choices regarding technology, tools, and platforms that can help you grow your business. Once you have identified what you want to accomplish, set aside some time and research the suitable option for your business. Some of these tools can even eliminate the need for additional employees and keep your overhead cost down.

Larry Alton
Larry is an independent business consultant specializing in tech, social media trends, business, and entrepreneurship. Follow him on Twitter and LinkedIn.