Types of Business Software: How to Choose the Right Solution

PublisherSol Minion Developmenthttps:https://assets.solminion.co/logo.svg?mtime=20200915165531&focal=nonePublishedcustom softwaresoftware developmentproject management

A few years in business and your software has started running you. So many types of business software out there, and most companies end up with a disparate tangle of solutions that tie up their processes and get in the way of their business goals. So, how do you choose the right software solution for your business? First, let’s take a look at the many types of business software out there.

Types of Business Software

There are three essential categories of business software: Financial, Operational, and Sales & Marketing. There are several other types out there, but these are the most commonly used types of business software.

  • Financial
    • Accounting: Creates a platform for bookkeeping and financial reporting.
    • Invoicing: Provides both automated invoices and a means for customers to quickly and easily pay the invoices.
    • Payroll and HR: Manage payroll, benefits, time off, and other HR functions.
  • Operational
    • Asset Management: Actively manage your parts and equipment. Manage maintenance and repairs, and control inventory.
    • Logistics: Inventory management, shipping, and receiving.
    • Productivity: The “Office” suite, including word processing, spreadsheets, presentations, and desktop publishing.
    • Database Management
    • Security
  • Sales and Marketing
    • Customer Relationship Management (CRM): Stay on top of your sales and marketing funnel, process new leads, generate sales reports.
    • Marketing Automation: Automate marketing and growth activities, from email campaigns to new product announcements.
    • Communications: Both internal and external communications, including call routing, call automation, call recording, chatbots, and asynchronous communication like messaging and SMS/text.

The Power of Integration and Custom Software

Your company is likely already using a majority of the software packages listed above. And it’s also likely causing headaches within your offices because the different solutions don’t work together, don’t fit your processes, or aren’t scaling with your growth. That’s where custom software development comes in. There are distinct advantages to developing custom software packages, such as scalability, innovation, adaptation, and a competitive edge.

How to Choose the Right Business Software Solution

Each type of business software will have its own set of criteria in choosing the right solution, or in designing the right custom solution. That said, common considerations to make while designing the right package for your business include:

  1. Size of the Business. How big is your business today, and tomorrow. Your software package will need to scale with your growth.
  2. The Technology Ecosystem. What other software will your solution need to integrate with? You may be able to create a sustainable competitive advantage by linking into your vendors’ and customers’ systems.
  3. Customer Needs. You’re in business for your customers, to help them solve problems. Design your software to help you achieve that and create happy, returning customers who refer their friends and family.
  4. Business Goals and Strategy. Begin with the end in mind. Design a solution that will help you win and meet your key performance indicators.
  5. Security. In a world of “hackings,” you need to protect your data, your intellectual property, and your customers’ privacy.

Conclusion

There are so many types of software out there for business. They can start to eat away at your processes and your cash. That’s why it is so important to design a custom solution that fits your needs and helps your business grow.

Ready to start finding the right solution for your team? Contact us today, and we’ll design the right custom software solution for your business goals.

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