Business software is defined as a set of computer programs designed to perform specific tasks for a business. This software package allows for tasks to be done quicker and much more efficiently than if it was done by an individual. In an increasingly digital age, all businesses need software, and there are several different types of software that businesses use. The type(s) of software you’ll need for your business will depend on a variety of things, such as the size of your business, tasks that need to be automated, and your business’s own specific needs. Here are some of the most common types of software that businesses use:
#1: Accounting Software
Accounting is probably one of the most important aspects of a business. Accounting is a task that can be done manually, but it is also very tedious and time-consuming, and there’s also the possibility of human error. Having software that performs all of these tasks (cash flow, tax filing, etc.) can help your business run smoother and allow you and your team to focus on more business-related matters.
#2: Bookkeeping Software
Similar to accounting software, bookkeeping software keeps all of your financial information organized. Bookkeeping software is usually included with accounting software, since the two go hand in hand. This can also be done manually, but having accounting software that also keeps track of your books is very helpful, especially for new business owners.
#3: Communication Software
Communication is a vital part of everyday life, and this is especially true for businesses. As a business owner, you’re constantly communicating with your team, your customers or clients, and also other businesses. Clear and effective communication is essential for your business to thrive, especially as businesses return to in-office work, and there are communication software programs to help you communicate with those you work with when you can’t communicate in person. There are video platforms such as Zoom and also text-based platforms like Slack.
#4: Customer Relationship Management (CRM) Software
A successful business is nothing without its customers or clients, and you want to make sure that your relationship with your customers is in good standing in order to remain successful and grow. CRM software is designed to give business owners a better understanding of how they’re currently interacting with their customers. JDE Software offers CRM, along with several other application modules.
In the same way that you would set up a security system for your physical business, you’ll also need some type of protection for the online part of your business. Also known as cyber security, data protection software prevents the hacking and leaking of sensitive information of your business and customers/clients. Examples include antivirus software, malware, and firewalls.
#6: Payroll Software
If you have employees, then payroll software is a must. When employees are paid accurately, and on time, they’re more likely to keep up with their work performance. This type of software will not only help you keep track of employee wages but also any bonuses. Payroll software can be included in different types of accounting or HR (human resources) software.
#7: Project Management and Time Tracking Software
Part of being a successful business owner is to be able to run your business as efficiently as possible. This means that you’re making the most of your time and resources. Project management and time tracking software will allow you to see where you and your team are putting the majority of your time and where it can be better spent. Project management software helps you break down big projects into more manageable tasks, keeping you organized and efficient.
Again, the specific types of software you’ll need depend on the type of business you have. These are just a few of the main types of software that all businesses can benefit from, and you may need more or less, depending on your specific needs.