Handling all the aspects of a business can be difficult, and that is where business management software comes in to play its role. This software offers a way to manage different areas of business, such as finances, inventory, customer relations, and more. Not only does it aid in automating busywork, but it can also be scaled to better suit the size of your business.
Business management software is available in different types, each catering to unique needs. Some of the most popular software programs used by businesses are enterprise resource planning (ERP) software, customer relationship management (CRM) software, and human resources (HR) software. Below, we take a closer peek at a piece of these types of business management software.
Enterprise Resource Planning Software
ERP software streamlines and oversees a company’s financials, inventory, and supply chain. ERP software is usually used by bigger businesses because it is a more complex system. However, there are also ERP systems available for small and medium-sized businesses.
The features of ERP systems vary depending on the vendor, but some common ones include financials, accounting, reporting, manufacturing, supply chain management, project management, and human resources.
Customer Relationship Management Software
CRM assists businesses in better understanding and serving their customers. Businesses can use these systems to store and organize customer information, such as contact details, purchase history, and preferences. CRM systems also have features that help businesses automate tasks such as marketing campaigns and sales processes.
The attributes of CRM systems vary from vendor to vendor, but some common ones include contact management, lead tracking, opportunity tracking, quotas and targets, campaign management, and calendars and events.
Human Resources Software
Human resources software helps businesses streamline their employee management by automating and centralizing various HR processes. These systems help businesses track employee information such as contact details, employment history, skill sets, and salaries. It also has features that help businesses automate tasks such as performance reviews and training programs.
Common features of HR software include applicant tracking, onboarding, offboarding, timesheets, payroll, benefits administration, leave management, and expense reimbursement.
Task Management Software
Task management software is a mechanism that businesses use to keep track of and complete their tasks. These systems help businesses manage their tasks and assignments. Task management systems also have features that help businesses automate tasks such as deadlines, reminders, and notifications.
Common features of task management software include task tracking, project management, team collaboration, and file sharing.
Business Intelligence Software
Business intelligence software streamlines the process of making data-driven decisions for businesses. These systems help businesses collect, store, and analyze data. Business intelligence systems also have features that help businesses visualize data, such as charts and graphs.
The features of business intelligence systems vary from vendor to vendor, but some common ones include data warehousing, data mining, data visualization, and reporting. These programs usually come with a hefty price tag but offer a wide range of features and can be tailored to businesses of different sizes.
Travel Expense Management Software
Business travel expense management software helps businesses keep track of their spending while on business trips. Not only do these systems help businesses keep track of their travel expenses, but they can also assist with planning and budgeting for future trips. Travel expense management systems also have features that help businesses automate tasks such as receipts and approvals.
Common features of business travel expense management software include trip tracking, expense tracking, and approvals. If your employees travel frequently, then this software is greatly advantageous for your enterprise.
ERP, CRM, HR, task management, business intelligence, and travel expense management are all types of business software that can help businesses manage their operations. Each type of software has its own unique set of features that can be used to automate various tasks. In other words, you’ll save time and money by investing in optimization software for your business.
With so many business management software platforms available and each with a unique set of capabilities, it can take time to decide which is suitable for your company. However, when you have the right tool in your hand, you can be able to maximize the conceivable growth of the business.