New technologies such as AI are revolutionizing business management through automation. Read how this can help your firm.
The Top 4 Reasons Why Small Businesses and Startups Should Invest in Business Management Software
Whether you’re a growing engineering firm, or an accountant that’s taking on larger clients, you’re entering a critical stage in your business.
Business management software helps improve and automate business processes. For businesses with a lot of moving parts, such as those in service industries, business management software can help ensure the smooth-running of distributed teams and departments. And for small companies and startups that are still figuring out their processes, business management software can provide both clarity and structure.
Whether you’re a growing architecture or engineering firm, a consultant working with freelancers, or an accountant that’s taking on larger clients, you’re entering a critical stage in your business. Nailing down your processes at this juncture is vital for continued growth.
Here are 4 reasons why you should consider business management software while your business is growing.
MAKE INFORMED DECISIONS
Business management software provides you with an overview of your business. BQE CORE allows you to run reports on all aspects of your business, from cash flow through to hours billed per member of your staff or a client.
When growing your company, this information allows you to see exactly what’s working within your business, as well as what’s not. It can also help you to identify high-performing employees, clients that are being undercharged, and ways in which you can save money on expenses.
WORK WITH DISTRIBUTED TEAMS
Whether your team is scattered around the world, works from home, or is out-and-about with clients all day long, business management software can help you manage and oversee their work.
Cloud-based software like BQE CORE makes it easy for distributed teams to track time and submit expenses, wherever they are. This means there’s no need to wait until someone comes to the office to submit a timesheet or a bundle of receipts. As a growing company, this opens up a wealth of opportunity, since hiring the right staff no longer needs to be location dependent.
Business management software makes it easier to establish processes, which in turn, can help fuel scalability. For example, encouraging a handful of employees to track their time and submit timesheets based on a client project is good practice at a small scale, but it's invaluable as your business grows. Similarly, managing the work of a few staff members is easy when your business is small. But when you have a large team, ensuring they are submitting things properly is a necessity.
These types of processes prevent bottlenecks as your business grows. And by implementing workflows via business management software, things will run smoothly, even when there's more to get done.
IMPROVE CUSTOMER SERVICE
It's frustrating for clients to receive haphazard invoices or charges for expenses that lack details. Business management software offers consistency to your clients with invoices that go out on the correct day, and that include all of the information they need. This may include a breakdown of hours worked, expenses, and retainer fees.
You can also run reports, which will help you gain a better understanding of how your clients are being served by different members of your staff. This type of information might tell you that an unhappy client is feeling neglected, so that you can forge a clear solution to improving the service they're receiving.
Business management software is extremely beneficial for small companies and startups. The types of insight it provides as your business grows is vital to ensuring your success in the future. What's more, cloud-based software like BQE CORE gives you the ability to manage your business and staff from anywhere, making it all the more convenient and flexible.
Want to learn more about CORE's features for small businesses? If so, we would be happy to show you around.