2020 was characterized by a significant increase in the number of business applications. This trait is not unique to the COVID-19 pandemic. In fact, economic downturns are actually one of the best times to start a business. Even when many businesses were forced to suspend operations, the demand for the goods and services that these businesses provided were practically left for the taking. If you plan on filling the void in the market by establishing your own business, here are some tools that you’re going to need in order to maximize your business’ survivability.
Whether it’s physical or digital, no business can flourish without an online presence. A web hosting service is needed in order to get your website up and running. This also enables you to design your website, install supported apps, as well as set up email functionality.
Shopping Cart Software
Shopping cart software is what enables your website to process and accept a wide variety of payment methods such as PayPal, credit cards, and many others. It’s also capable of calculating shipping costs as well as taxes. The intrinsic value of these types of software is that it takes away the need for manual input, which not only drastically decreases the margin of error, but it also frees up your staff so that they can focus on more important tasks.
A point-of-sale system is as much a measure meant to streamline the checkout process as it is meant to keep track of your sales and your inventory. POS systems, like this POS for restaurant managers often come complete with touch-screen monitors, terminals, and restaurant software. POS systems also make the accounting process much easier because the data is readily printable.
The recent pandemic was characterized by a significant increase in our dependence on the internet. This also means that cybercriminals are keen to capitalize on this increased reliance, especially when you consider that most small businesses don’t take cybersecurity into consideration under the wrong notion that since there are bigger targets, they won’t be vulnerable to attack. Cybercriminals tend to target small businesses for the ease of exploitation over potential rewards.
Credit Card Processing System
Credit card processing systems allow businesses to process varying payment methods which makes transactions convenient and seamless. As more people embrace cashless payments, the more likely they’re going to look for businesses that have flexible payment methods. In fact, according to this article, about 70% of Americans carry a credit card, which is a percentage of customers you don’t want to disregard.
Time Tracking Software
Businesses need to monitor how much work is actually being accomplished so that they’re able to make the necessary adjustments in order to optimize productivity. time tracking software takes account of employee hours, and this helps business owners determine whether there the number of employees and the tasks needed accomplished match. This will also show business owners if they’re overstaffed, which will help them save money by cutting underperforming employees.
While there are many more tools that can help you optimize the way you run your business, these are the barest essentials that will enable you to grow your business. Security, customer service, productivity, and inventory management are the core aspects of every business, and these tools cater to them effectively.