Five types of software every startup needs
Are you looking to make your dreams a reality and start your own business? If so, here are five types of software you may need.
There are many things that come with running a startup – from dealing with customers to paying employees and tracking inventory to bookkeeping.
And it’s hard to be a master in every aspect of business. If you’re a baker at heart, doing finances may not be your strong suit. Or, if your passion is law, creating a marketing plan for your firm may be a struggle.
There’s nothing wrong with asking for help. And the good news is that today, that help can come from software. Investing in the right software for different areas of your business can save you time and money. So let’s take a look at five types of software you may need before you open up shop.
1) Inventory software
Are you opening a business that will have an inventory? Whether you’re starting a running store that stocks hundreds of shoes, or a plumbing service that uses thousands of parts, you’re going to need inventory management software.
Inventory management software allows you to keep track of every moving part of your business, from your raw materials to your finished products.
With inventory management software, you’ll be able to use key metrics to determine which products are fast sellers, and which ones have been taking up space on your shelves.
This will then allow you to make informed decisions on what products you should continue selling, and what products should be cut from your lineup.
2) Fleet management software
Will your business rely on a fleet to transport goods? Or will you have a team of sales representatives out on the road securing new clients? If so, fleet tracking software will allow you to keep track of your assets and your employees.
Fleet tracking has plenty of perks that will help your business grow and flourish, including:
- Safety: Monitor speed, hard braking, service warnings, and cell phone distractions to keep your drivers and vehicles in shape.
- Diagnostics: Vehicles are expensive to maintain. Fleet management software allows you to determine when regular maintenance is required or when an extensive repair needs to be scheduled.
- Tracking: Fleet management software allows drivers to log and tag trips. You, as the employer, are able to monitor their vehicle in real-time. With this, you can send your drivers updates on traffic conditions, new routes if there’s a detour, and nearby gas stations with the cheapest gas.
3) Customer relationship management software
Customer relationship management (CRM) software is essential for building long-lasting relationships with your customers.
CRM tools store customer information, such as their phone number and email address, which you can use to maintain a relationship that draws them back to your store or business.
With a CRM system, you can manage your marketing campaigns, identify new sales opportunities, and record any service issues.
Some benefits of CRM software include:
- Improved customer service
- Increased sales
- Improved customer satisfaction
- Improved customer retention
- The ability to share and distribute data
- Reduced costs
4) Accounting software
Your business needs to make money. And not only do you need to keep track of your cash flow and revenue streams to keep your business afloat, but you also need to be on top of your finances for legal reasons. The last thing you want is Uncle Sam knocking on your door with an audit.
That’s where accounting software comes in. Accounting software can assist you in keeping track of your finances, from completing your balance sheet to maintaining your books. Accounting software can also help you with your taxes, paying your employees, and generating financial reports for your investors.
5) Marketing software
To make your business visible, you need to market it. Marketing can be done in a variety of ways, such as using influencers on Instagram to promote your brand or sending out email campaigns to your loyal customers.
Marketing software can help you with your marketing initiatives, whether using strategic product packaging, running Facebook ads, or implementing a social media campaign.
What software do you need?
Getting a startup off the ground isn’t easy but luckily today we have technology to help us. These five software systems can help you to save time, money and hassle.
From marketing to accounting, investing in solutions like these to help you run your daily operations will make running your business smoother.
Photo by Trent Szmolnik