6 Reasons Why Every Business Needs a Software Solution

Do you want to create a business for 21st century people?

Well, you got to do it the 21st century way, through smart technology and solutions.

To stay at the top of the market, you need solutions that are specially created for your business. The software solutions that are tailored to improve your business processes, manage data efficiently and empower you to make data-driven strategic business decisions.

So, if you feel your business is getting outdated and your processes are getting monotonous, you need to invest in software now.

Let’s further understand in detail the importance of software in business.

What is a Software Solution?

A software solution refers to a program that helps businesses or individuals automate time consuming and recurring tasks. Often, a software solution is designed to streamline business functions such as accounting, human resources, marketing, managing customer relations, and more.

No matter if you are a startup, a business enterprise, or a remote team of freelancers, your business needs software.

Why Invest in Software Solution?

• Automate Routine Tasks
• Deliver Better Customer Service
• Get an Edge Over Your Competitors
• Gain Efficiency
• Expand and Scale Your Business
• Generate Reports for Business Strategic Planning

Investing in a software empowers businesses to bring automation and efficiency in their processes. Different types of software solutions also help businesses to deliver better customer service, get ahead of the competition, indulge in strategic planning, and scale their business to new opportunities.

Let’s understand the importance of software and why you should invest in software in detail.

• Automate Routine Tasks

Without software, your team is probably wasting their time and effort in completing repetitive tasks that can be managed easily with technology. Automation can save your resources, and you can delegate them to more meaningful and strategic tasks, which also contribute to their personal growth.

Examples of Task Automation with Software

Without software, your HR team is spending a lot of time manually calculating the payroll of each employee. This includes complex calculations of bonuses, making PF and tax deductions, cross-checking their working and absent days, etc. When done manually, this may lead to a lot of calculation errors.

But if all this is done with HR payroll management software, all these calculations will be automated and will be done absolutely without any errors.

Fact: 86% of employees in a survey by Smartsheet say that automation makes workplace more productive and efficient.

Suggested Read: Best Business Management Software and Key Features for Small Businesses

• Deliver Better Customer Service

Customers want the best-in-class service and they just hate to wait for it. But your employees cannot be available all the time, especially when your organization operates in different time zones. So, here messaging or auto-respondent software can make it easy for you to be available and respond to your customers, even when you are not available. You can assure your customers that their query has been considered, and you will get back to them.

Fact: Gartner estimates that customer-owned bots will automatically raise a billion service tickets

• Get an Edge Over Your Competitors

One of the main advantages of software for small business is to gain efficiency and beat your competitors. Investing in an updated software solution will give you an edge over your competitors in terms of technology and processes. Then, if you offer better customer service, your chances of becoming a market leader in your domain are higher.

Example of Gaining Advantage Over Competitors through Software

Your sales team can use customer relationship management software to get a better understanding of their prospects and their buying behavior. This will help your sales reps to draft a personalized sales pitch or marketing campaign to convert prospects into a client. This is one of those benefits of business software that can take you ahead of your competitors and help acquire more customers in the market.

Suggested Read: Travel & Hospitality Industry Software Solutions | Top 5 Retail POS Billing Software Solutions for Your Business

• Gain Efficiency

By implementing software, you can speed up your business processes and make your teams more efficient and productive.

Example of Gaining Efficiency Using Software

While onboarding new employees in your organization, you can use HR software to intimate other departments such as IT and admin about the new hires. This will quickly initiate the process of setting up designated systems, and other things that the admin needs to issue. Moreover, it will save HR, IT, admin, and the new hires’ time, and they can immediately start their work as soon as they join the organization.

Fact: 80% of employees believe that with software automation they can become more efficient at their jobs.

• Expand and Scale Your Business

Software makes it easy for your business to scale and expand in terms of manpower as well as location. Investing software allows businesses to increase their bandwidth by adding more members, locations, roles, etc. This becomes more important, especially when businesses are moving towards cloud infrastructure, scaling in terms of storing and accessing data has become more convenient.

Example of Scaling Your Business Using Software

For example, if a food chain outlet is implementing restaurant management software, it should look for software that allows them to add more restaurant locations. The software should offer an overview of the combined sales, inventory, orders, etc., from all the locations of the food chain. This will help business owners to manage multiple locations efficiently and eventually expand to more.

Fact: According to Hosting Tribunal, 66% of enterprises are already running on a central cloud team, and this industry is expected to reach 620 billion USD by 2023.

Suggested Read: How Software Has Changed the Modern Business Landscape?

• Generate Reports for Business Strategic Planning

Remembering every tiny detail of your business, especially what happened a few years, months, or even days ago is not possible for anyone. But the software always remembers everything. Therefore, it can instantly generate reports on any given parameters, that can help you in making business strategic decisions based on facts and true numbers.

Example of Generating Reports Using Software

For example, if a CEO wants to know about the employee attrition rate in the organization, he/she/them does not need to personally check with all the managers how many employees have resigned from their team. Rather, the CEO can just use HR software to understand how many employees have left the organization in the past year, from which teams, and during what time of the year. The employee attrition rate will provide the correct numbers with precise detailing.

Fact: 65% of respondents under 35 in a survey say that they use software automation for collecting data.

Quote

“A HR software has helped us in improving our onboarding and off-boarding processes. Now the employees and HR teams can do everything within the software without any paper work or hassle.” HR Manager, Techjockey

Conclusion

There is great importance of software for a business such as automation, gaining efficiency, expanding business, and more. A software ensures that there is optimum utilization of your resources while reducing your cost, time, and efforts. So, businesses must ensure to invest in a software that understands their needs, helps them to grow, and make strategic business decisions.

Related Categories: Attendance Management Software | Sales CRM Software | Asset Management Software

FAQ’s

References: Smartsheet & Hosting Tribunal