Innovative and powerful solutions are emerging to serve businesses of all sizes, and mobile devices and the cloud are making it easier than ever for companies to operate on a global scale. What used to be only available to the largest organizations can now be achieved by SMBs – small and mid-sized businesses – with the help of clever software developers.
To follow suit, business owners must understand what is possible and how to best utilize the tools made available to them. In this article, we will discuss seven innovative and powerful solutions that can help SMBs operate effectively and efficiently in today’s global business environment. Visit our site:https://wezom.com/services
For years, businesses have tried and tested various methods of conducting business on the go. Some companies were even equipped with mobile phones and tablets so that executives could carry out company business in the field as well as from the comfort of their desks. Now, with the rise of the hybrid workforce, these devices have become even more valuable. Mobile CRM solutions aim to bring the power of a traditional CRM to the palm of your hand. This type of software syncs contacts, activities, and tasks across both mobile devices and the web, making collaboration simple and transparent.
A mobile CRM runs on your smartphone or tablet, so you can pull up customer records and stay in touch with clients and prospects anywhere, anytime. You can use this type of software to manage your sales team, take orders, and follow up with customers. Thanks to features like offline synchronization and push notifications, you will never be overwhelmed by email again. Furthermore, since mobile CRMs often integrate with other systems like Google Maps and Siri, you can access business data and details about customers wherever you go.
With the growth of cryptocurrency and the increasing use of online payment platforms like PayPal and Square, businesses have the opportunity to expand their customer base and bring in more revenue without having to set up large business bank accounts. Square has been a game changer in this regard, providing SMBs with the capability to process more transactions than they could ever need thanks to their mobile phone camera and software.
With Square’s business account, you have access to several tools that can help you in your daily operations. You can accept payments in Bitcoin, send invoices, issue receipts through email, and much more. What’s more is that since their main audience is SMBs, all of Square’s products are designed with these individuals in mind. This specialization makes their products more cost-effective and simpler to use than traditional banking solutions. With mobile payments, businesses can gain an edge in a world where everyone and everything is moving online.
Customer Relationship Management (CRM)
Customer relationship management (CRM) is a business tool that helps businesses to manage their interactions with customers from beginning to end. Basically, this type of software helps companies to follow up with customers, provide support, and develop strong relationships with existing and potential clients. Many businesses struggle with retaining customers due to a lack of CRM. For instance, many companies don’t follow up with customers after the sale because they do not have a system in place that tracks these important accounts.
A business who uses CRM knows that customer retention is vital in today’s world. According to HubSpot Blogs research, 86% of businesses report that customer retention is important, but only 42% use any sort of CRM software to accomplish this. Fortunately for these businesses, there are innovative solutions that can help. CRM tools like Salesforce and Netsuite make it easy for businesses to keep track of customer information and develop a database of leads that can be accessed from anywhere. Moreover, thanks to the development of online CRM platforms, like Hootsuite, businesses can keep in touch with customers even when they are not physically in the same place.
Product Management Platform
Product management is a broad term that can refer to the entire lifecycle of a product, from conception to marketing and sales, and all the adjustments that need to be made along the way. Essentially, a product management platform is a type of software that helps to coordinate the efforts of different groups within an organization. This type of platform can also help businesses track the progress of initiatives, measure the success of certain strategies, and identify areas where additional effort is required. A product management platform is an essential tool for any business that builds and sells products to consumers.
According to GAP Analysis, by 2020 the global market for product management solutions will be worth US$22.9 billion, rising from an estimated US$15.5 billion in 2019. This represents a CAGR of 12.5%.
Extended resource planning, or ERP for short, is a tool for large businesses that helps to coordinate the efforts of different groups within the organization. ERP is a type of software that consolidates financials, manufacturing, and distribution into one system, making it much easier for companies to manage the entire lifecycle of a product.
Closely related to ERP is customer relationship management (CRM) and supply chain management (SCM), which are business tools that help businesses to maintain customer relationships and track the movement of materials and products across different teams and departments in the organization. Together, these tools form a strong foundation for any business, enabling them to operate effectively across multiple locations and markets. In the last few years, the growth of multiple locations and scalability have made it easier than ever for businesses to operate on a global scale.
In 2020, the global market for ERP/CRM/SCM solutions will be worth US$24.6 billion, rising from an estimated US$13.7 billion in 2019. This represents a CAGR of 21.9%.
Supply Chain Optimization
Supply chain optimization is a business tool that helps companies to cut costs while increasing productivity and reliability. To achieve this, the software aims to identify inefficiencies across the whole supply chain, from raw materials to wholesalers and retailers. For example, if one link in the chain is performing poorly due to overproduction or lack of inventory, the entire chain could become unstable due to delays or out of stock situations. This can have a serious impact on the bottom line, especially if the company’s products are perishable or sold on a consignment basis.
When used correctly, supply chain optimization can help businesses to cut unnecessary costs and gain a competitive edge in a world where business leaders have more than enough incentive to optimize their supply chains.
Operations management is a form of software that helps businesses to plan, control, and organize their everyday operations. It provides employees with the necessary tools to effectively and efficiently carry out day-to-day tasks, and it ensures that these tasks are consistent and reliable. In 2020, the global market for operations management solutions will be worth US$6.8 billion, rising from an estimated US$4.1 billion in 2019. This represents a CAGR of 18.8%.
Human resources (HR) is a broad term that refers to the people within an organization, including personnel (such as managers, supervisors, and employees), payroll, and benefits. For an HR department, it can be a challenging task to keep up with the growing needs of an organization while also ensuring that employees remain satisfied. To achieve this, many businesses turn to HR operations/management software to take the drudgery out of HR tasks and make them more streamlined. This type of software can help HR to achieve their objectives, while also allowing employees to express their needs and concerns through their smartphone.
When used correctly, HR operations/management software can help businesses to manage their employee engagement levels, identify areas of low productivity, and provide guidance on how to improve processes and become more efficient. Furthermore, thanks to features like mobile access and notifications, this type of software is always available to those who need it, regardless of where they are or what they need to do.
Increasingly businesses are relying on the cloud for their storage requirements, especially as they grow and need to store larger and larger quantities of data. Storing data in the cloud not only makes it accessible to those who need it, but it also allows for easy collaboration, cutting down on the number of emails that end up floating around in cyberspace. Moreover, since the data is stored remotely, businesses can prevent downtime and outages, as well as gain improved disaster recovery capabilities.
According to GAP Analysis, the worldwide market for public and private cloud computing will be worth US$23.6 billion in 2020, rising from an estimated US$11.3 billion in 2019. This represents a CAGR of 28.7%.