8 Technology Solutions to Help Expand Your Business
Alena Panych

30-Second Summary

Businesses must rely on various software technologies not only to manage their business but to expand it as well.

There are countless software tools businesses can choose from to expand their business.

While this can be an overwhelming task, ensuring your business has the right technology stack to expand is essential.

In today’s digital world, businesses must rely on various software technologies not only to manage their business, but to expand it as well. There are multiple software tools to manage business operations, from accounting, project management, and office communication to sales, customer service, and marketing. While the various tools available can be overwhelming, setting up the right technology can streamline operations and ultimately improve business efficiency.

If your company is exploring digital resources to improve operations further or streamline the delivery of your products and services, consider implementing the following technologies that help drive business growth:

Accounting Software

Accounting software is the foundation of most businesses. A comprehensive accounting system offers many features to streamline accounting processes within your business. From managing basic invoicing and billing, to calculating taxes and project management, accounting software is an essential tool for your business to manage its financial information.

Additionally, accounting software can help manage clients, organize various bank accounts, and provide insight into the financial health of your business.

A good accounting software can help your business grow smoothly and continuously.

Customer Relationship Management Software

Customer relationship management (CRM) software helps manage all your business relationships as well as interactions with your customers and prospects. A CRM system provides an overview of the status of current and potential customer deals, can streamline sales and marketing processes, and will improve profitability.

Some of the features that a CRM can provide are contact management, sales management, sales rep productivity, and more. More importantly, CRMs help manage customer relationships across the entire customer lifecycle and organize marketing processes, sales processes, digital commerce, and customer service interactions.

Project Management Software

Project management software is essential for planning, organizing, and allocating time and resources for managing various projects across departments.

It enables project teams to collaborate with other teams and keeps track of the project’s progress while defining and prioritizing tasks and responsibilities. Project management software allows teams to control costs and time and enables smooth collaboration between other teams and stakeholders.

In order to deliver projects on time, teams must keep tasks and responsibilities organized especially when there are multiple projects going on. Project management software provides a high-level overview of the progress of each project, helps prioritize assignments, and keeps all contributing teams on the same page.

Information Technology Service Management

Information technology service management (ITSM) allows companies to manage how it provides IT services to its customers and employees. ITSM includes order management, hardware and software maintenance, diagnostics and troubleshooting, as well as routine operations. ITSM usually includes automated activities as well as human resources performing complex tasks. Using ITSM optimizes a company's business technology.

Inventory Management Software

Inventory management software provides a clear view into a company’s inventory status and needs. It can help companies identify which and how much stock to order and when. Inventory management software helps track the entire inventory process, from purchase to the sale of goods.

A good inventory management system helps identify and respond to buying trends within your business and ensures there’s always enough stock to fulfill customer orders and proper warning of any potential shortages. Proper inventory management software is vital to a business’s health due to the fact that it ensures there is rarely too much or too little stock on hand, limiting the risk of shortages and inaccurate records.

Human Resource Software

Human resource software allows companies to manage their workforces in an efficient manner. The modern workplace is changing, and in order to meet the needs of your workforce and to attract top talent, companies must invest in the right technology to both improve the employee experience as well as to increase the bottom line.
Human resources software saves valuable time and reduces large amounts of paperwork by automating tasks and managing data. When an HR team has all of the data they need at their fingertips, mistakes are reduced, compliance risks go down and business policies are more consistently enforced within your organization.

By reducing manual tasks and streamlining key HR processes, businesses can improve the role of both managers and employees to be more engaging and strategic. HR software provides employees with high-level views of their tasks, resulting in better planning, better decision making and greater job satisfaction.

Website Builders

In today’s digital world, all businesses need to have a website. While you can hire an experienced coder to build a website, there are easier and less expensive ways to build websites today. Consider using a website builder. Website builders are tools that allow companies to build visually appealing and functional websites without any coding, design expertise, or a web designer.

Instead of having to code a website from scratch, website builders allow your company to build websites using pre-existing features of the website builder. Website builders have done the coding for you, so all your company has to do is pick a template that the website builders offer.

The templates that web builders offer have been pre-designed and coded by web design experts, so the website you create will be up to the latest standards. Website builders are perfect for those that want to create a professional-looking website, but don’t have any existing web design expertise.

Enterprise Resource Planning Software

Many businesses have a handful of business software in place to run their business that can make it overwhelming to keep track of all those systems.

In order to organize all of these software programs, companies use enterprise resource planning (ERP) software. ERP software is a business management system that enables a business to use a suite of integrated business applications. ERP software streamlines and automates key business processes, creating a more accurate and efficient business operation.

ERP systems provide a high-level view into core business processes and can optimize business operations through superior resource tracking and reporting, database management and data sharing and overall improved information systems. More importantly, ERP systems can allow your business to expand without the addition of IT systems or hiring IT staff, cutting down on those costs.