When looking to improve business profitability, one of the go-to options is to improve business efficiency. In fact, the productivity software market is predicted to hit $96.36 billion, according to Adroit Market Research. Whether it’s scheduling preset shut downtimes for your computers or automating your social media posting, even the tiniest streamlining chance can boost business efficiency. However, with hundreds of new streamlining technologies hitting the market every day, businesses may be confused as to where to start – particularly since some options may require an extensive investment or overhaul of business processes. Regardless of your size, industry or budget, there are a few standard steps you can take to kickstart streamlining within your business – with the help of some of the latest technology on the market.
Start With Time Management And Prioritization
Time management apps seem to be all over the software market right now, and with good reason. Whether it is time management aid for new entrepreneurs and remote workers, or a productivity tool for managers and employers, time management apps can help you (and your employees) experience the benefits of time management. For employees and entrepreneurs, it is optimal productivity, clearer limits and a better calculation of daily rates. For managers, it is higher productivity, improved team communication, and more accurate billing.
When it comes to the best time management apps to get started with, the most popular choices seem to be Asana, Trello and Pomodoro based timers like Focus Booster. Pomodoro based apps have gained popularity thanks to the age-old work-reward formula using a 25-minute time limit. This is similar to the experts’ claims that working in 90-minute blocks is optimal for your body and concentration.
Take Project Management And Team Collaboration Into The Automated Age With Trello And Slack
Project management software is now widely used around the globe by businesses looking to streamline their project management process. By doing so, they can improve their time and cost efficiency, as well as troubleshoot any potential risks before they develop. Also, with the increase of remote working, project management apps like Asana, Trello, and Basecamp can be used on the go, which means communication is continuous,and team collaboration is enhanced across all business functions. Project management software Trello also recently introduced plans to integrate Butler with Slack, which would further boost the software’s chat and development features.
Streamline Your Business Finances With Money Management Apps Offering Real-Time Integrated Budgeting And Spending Analysis
Earlier this month, Microsoft announced its plans to launch Money in Excel, a money management app that allows users (including small business users) to not only sync their credit cards and bank deposits, but pinpoint real-time spending and profitability trends. For businesses, streamlining their financial process enables business growth, cuts unnecessary costs (such as full-time financial staff), and maximizes the efficiency of a key business resource – money. Money management apps that allow real-time reports and integration of all financial functions, such as invoicing, credit collection and expenditures, allows for more informed decision making and less unnecessary spending. It may also further improve your efficiency if you choose to integrate other streamlining software with your financial streamlining apps. According to Journyx, using both can not only give a business insight into their cost breakdown of labor and project costs, but also whether it is sticking to the intended budget. Best of all, the financial streamlining software is being offered as a part of the Microsoft 365 package, which means business owners can pay as little as US$6.99 per month for access.
However, Microsoft is not the first company to introduce money management apps to help small businesses streamline their financial function. There is also Plaid and the consumer-popular Mint. Although aimed at consumers, Mint has become well used by small business owners, mainly thanks to its $0 usage price tag and user-friendly interface.
With the endless releases of new technological software for businesses floating around the market, it is easy to become confused about which ones would be the best to help you improve the efficiency of your business operations. When in doubt, start with the basic principles of improving your business efficiency – with or without technological help. Look to improve your and your employees’ time management with time management apps, automate and integrate business functions with money management software, and lastly, encourage team collaboration and boost productivity with the help of project management software. Do this, and your business will not only operate better; it will operate smarter.