How to Be in Control With Business Management Software
BUSINESS MANAGEMENT SOFTWARE helps to manage all the core business processes in one system.
It also helps companies of all sizes to gather information and report on the latest business results.
By managing all business processes from sales to accounting with business management software, you’ll collect all your data into one interactive system that’s accessible anytime and anywhere.
Are you still managing some of these tasks on an error-prone Excel spreadsheet or with a poorly performing online tool? (You shouldn’t)
- project & task management
- time management & calendar
- sales and CRM
- time tracking and work reporting
- budget, invoice, and expense management
- accounting and financial reporting
- product and warehouse management
- operations and logistics management
Instead of managing each business process with a separate tool or on a spreadsheet, use business management software. This way, you’ll be able to manage all business processes and build an information network of all your company’s operating departments.
As a result, the company-wide information exchange becomes incredibly quick and almost invisible.
Let’s have a closer look at the core features and benefits of business management software that can become an exceptionally powerful tool in the hands of smart business leaders.
1. All your business data is accessible in one system
The most remarkable benefit of an integrated business management solution is its ability to track, manage and gather all your company’s data.
Imagine every bit of information about your company’s sales, finances, products and orders, resources, projects, events, and tasks accessible in one centralized database. You’ll always have a perfect overview of your company’s performance and can access relevant business data without struggling to find it.
Business management software provides tools for implementing all important business processes and executive procedures. It includes tools for CRM, team management, time billing, project management, budgeting, executive-level management and more.
Your team can work in one system and integrate other tools they like to use for an automated data flow.
For example, companies can use tools for task and project management while integrating the business management system with their accounting and CRM software.
Central business management software combines the data from all other tools and establishes a quick information exchange between business departments.
As all the important data is collected into a central system, nobody stays in the dark or is required to ask their colleagues for information.
Your business becomes more transparent while user access rights help to control who has access to specific information.
2. Connect all your business processes
Another benefit of managing all business operations within a single system is its ability to build links between various data. It gives you a complete understanding of how certain activities influence your budget or sales results.
For example, link your marketing and customer relationship management and assess data about lead sources while looking at your client list. Or link your completed tasks to projects for efficient invoicing for billable work and project costs.
Business software builds links between multiple business processes, leading to detailed reporting, automated billing and increased sales results.
Whenever you’re making a new data entry, you’ll be presented optional fields to link the information to projects, users, clients, resources, etc.
Software suggestion: Proposal Software
You don’t always have to enter the data manually; some information can be gathered automatically with the help of pre-designed integrations. Also, the information on a client profile is frequently updated to reflect the progress of your sales processes.
Read more about the benefits of business automation.
By creating links between multiple activities and data, you’ll have a complete understanding of how one activity connects to others. Moreover, you can access information more quickly by leveraging an automated information network.
Everything about your business, one click away
3. Remarkable reporting opportunities
The benefits of managing all your business processes and important data in one system do not end here. Business software combines your data into thorough reports and insightful KPIs.
All your information can be transformed into visual reports, charts, and graphs that you can customize to your liking, including the exact data you need. As a result, you’ll have a complete overview of your company’s work, sales, and financial performance.
For example, you can get sales reports about the number of new leads and paying customers, the average customer lifetime value, conversion rates, and expected income/expenses related to recent acquisitions. See the list of sales KPIs that every executive can monitor.
Or how about a report on your company’s budget? Business management software can synchronize data with accounting software, and link it to project costs. In addition to traditional financial reports, you can compare these with sales or marketing results to see what causes decline or growth in your earnings.
By keeping track of everyone’s workflow and tracking the time spent on tasks, you’ll get thorough team reports, showing how much time was spent on certain activities. Moreover, you could categorize all activities to see how much time is spent on marketing, sales, HR, accounting, management, etc.
Building connections and examining the links between multiple business processes creates a whole new awareness of your company’s performance.
4. Know everything in a few clicks
Business management software lets you visualize all the data, KPIs, and reports on multiple dashboards, making all important business metrics accessible on a click of a button.
The leading all-in-one business solutions let you create a countless number of highly customizable metrics for KPI reports. These metrics can be added to a KPI dashboard. By clicking on metrics and widgets, the user will be directed to pages with more information.
By adding metrics, graphs, calendar events and lists of tasks, quotes, invoices, etc. to the dashboard, you can customize it to show exactly the information you need. You can create a sales dashboard with customer acquisition metrics. Or use an executive dashboard that reflects on your company’s long-term growth.
For example, your dashboard could include project KPIs, new leads, current orders, and the amount of work completed in various business departments.
Read more about KPIs and building an informative KPI dashboard.
As the system manages all your company’s data, it updates the metrics and widgets on your dashboard in real time, providing the latest information. You’ll be able to access information more quickly and will notice when something needs closer attention.
Every team member can create their personal KPI dashboard, showing exactly the information that they need to be informed and work efficiently. Managers use executive dashboards to get a quick overview of their department’s performance and make informed decisions.
5. Monitor every aspect of your work
The best small business management software solutions have no restrictions regarding the tools you can use. It completely depends on your company’s needs and preferences to decide what information to collect and which tools to integrate.
Some businesses continuously deliver projects to customers and bill them on a timely basis. For example, in this case, it’s important to track time spent on project tasks.
A B2B company might want to track and manage their leads and create a sales pipeline. Business software provides tools for efficient pipeline management and prospecting.
You can create detailed client profiles that are linked to your calendar, marketing tools, inbox, and budgeting. This way, you have a complete overview of who’s been contacted and when, where they stand in your sales funnel, and what’s the expected revenue from a deal.
It’s up to you to choose which information to collect and how to analyze it. Detailed data can be easily filtered so that you can create reports based on the exact information you need.
The benefit of business management software is to keep track of all your business data and the processes you need to manage. It combines business departments to a well-connected network of information, giving a complete overview of your business performance.
Having all the information accessible in one centralized business management system enhances the way you work and will make a huge difference in your daily business management.
Instead of using multiple tools for sales, marketing, accounting and project management, you can use a single solution. Or integrate your currently used tools to synchronize all relevant information and access it in one system with a remarkable reporting capacity.
How to get started?
Finding the right software that fills all your requirements isn’t always an easy task. You could buy an expensive business suite that includes tools for managing every single business process. If that’s too expensive for your company, try Scoro – business software for managing projects, quotes, and invoices.
As you manage everything from sales to expenses in one system, your data is collected into the very same system. After you’ve used business management software for a few months, you’ll start to notice improved team collaboration and increased productivity across all your business departments.