What are the best tools to improve your business? Depending on what type of business you operate will determine those implements that you will use to make a successful business. For example, if you are a Dentist you will need the latest in technologies to run your practice. A digital impression system would be an important item to have in order to experience a higher degree of accuracy for your patients. All industries require certain tools to be sustainable.
Most organizations can’t escape the importance of specific back office tools that will help you grow your business and keep it viable. Here are 4 tools that are absolutely necessary:
- Accounts Payable Automation
- CRM System
- Cyber-Security Protection
Accounts Payable Automation
Modernizing accounts payables seems to be on everybody’s mind these days. From small start-up businesses to larger organizations with a few years under their belts, paper invoicing belongs in the past. CFO’s and Controllers are finding that Electronic Invoicing is truly an important tool for accounts payables and something an organization can’t be without.
One of the added benefits is that E-invoicing tools can be utilized on a tablet, computer or even on a smartphone. And, for one step convenience, many of those tools have become cloud-based as well. Gone are the days of waiting for bookkeepers to handle sending out invoices and no more waiting for payments from customers. Now, those customers can remit payment directly to your company’s AP automation system.
For recurring bills to your company’s regular customers, you can program your Electronic Invoicing solution to generate bills each month on a specific day. In addition, the tools within your E-invoicing program can also generate an alert to keep you on top of any outstanding invoices. All of these tools and features can greatly improve your cash flow while saving time and money that can be wasted by manually processing invoices.
For further convenience, Accounts Payable Automation can have an impact on your bottom line via information that is more accurate and timely. This enables for faster invoice processing, freeing up your employee’s time. AP Automation paired with EIPP is the optimum way for streamlining your company’s financial processes, that can propel your company into the future with a firm grasp on all of your financial processes.
For starters, a CRM program has the capability of helping you with the tracking of just about every single detail of any business happening between your company and your customers. Initially, they were developed for use by large businesses that had huge sales teams. But, the good news for smaller businesses is that CRM systems are no longer out of reach for them. In fact, CRM systems are currently in place in 48% of the companies in North America and are also number one among business tools, based upon usage. According to Forbes Magazine CRM is the leading enterprise software category, as the market is expected to reach $36.5 billion globally by 2017. CRM systems can help businesses to:
- Organize existing contacts
- Organize notes
- Input and manage prospect groups
- Assign customers to sales representatives
- Create tailored proposals
- Close sales
- Help sales reps with tracking incentives and quotas
Cyber Security Protection
Due to the internet, computers, smart devices and other wireless networks (Bluetooth and WI FI), are susceptible to intrusion unless protected with secure software which is absolutely necessary. Just in the past few years there have been an onslaught of attacks on businesses and organizations, making it extremely important to have more scrutiny than ever for their security. Being unprotected, we are susceptible to harm via network access, data and code injection. Other methods of deceitful practices include the malpractice by operators whether intentional, accidental or due to them being tricked into deviating from secure procedures. Having a reliable cyber security system will bring about peace of mind, besides keeping your site safe and secure.