Knowledge about different fields or tasks is essential if you own or plan to start a business. Although multitasking can be overwhelming, there are plenty of resources you can tap into to help your business run smoothly.
Modern business tools and software facilitate real-time data gathering and reporting, automate repetitive tasks, and much more. With many options in the tech space, where and how do you start choosing the best tools to use?
Here’s a roundup of essential tools for specific business areas.
The Best Tools You’ll Need for Your Business
No two businesses have the same setup, so you must understand your requirements to boost efficiency.
1. Finance and accounting
Accounting and financing tasks are critical for planning and making business decisions. Knowing how to manage business finances allows you to analyze your financial performance, identify growth opportunities, and avoid unnecessary expenses.
However, accounting can be tedious and time-consuming. The good news is you can streamline your data entry, report generation, business financing, and expense tracking processes using tools that let you spend your time and energy on business expansion instead.
Available tools
Xero is a subscription-based application that allows you to send quotes and invoices, enter bills, and generate a business snapshot from anywhere. The app pulls data automatically, saving a lot of hassle. Another option is Quickbooks, an all-in-one platform for inventory management and expense and tax tracking that automatically generates reports.
Both services have a 30-day free trial, so you can test them before committing to subscribe.
For financing concerns, calculator.net can help you compute and track debt, like collateral loans, to keep on top of your repayments.
2. Productivity, task management, and collaboration
Organizing your team members and allowing them to manage their tasks easily is vital to ensuring smooth business operations. Platforms catering to team collaboration and task management enable remote work, simultaneous collaboration, and accurate time assessment.
Available tools
Asana is a highly customizable project management platform for organizing tasks into timelines, boards, and lists, which you can easily create using templates from its database. Meanwhile, Basecamp is a highly streamlined task manager and timekeeper that lets team members track progress effortlessly.
Asana offers free basic services, while Basecamp has a 30-day trial period if you want to see its suitability for your team.
3. Customer relationship management (CRM)
Customers are the lifeblood of your business, making it vital to cater to their needs. As such, you must understand your customers’ actions and habits to optimize business decisions while maximizing conversions, customer loyalty, and brand trust.
CRM tools can help you track spending data, respond more quickly to customer concerns, and organize leads.
Available tools
Hubspot CRM offers a one-stop database for managing all your customers and clients. It automates report generation, email tracking, and pipeline customization. The best part is that its base functions are free. You only need to pay for advanced functions once your business has grown enough to need them.
4. Digital marketing
Marketing gets the attention of people who need your products and services. However, measuring a campaign’s effectiveness can be challenging without tracking software and other marketing tools.
Digital marketing tools can help you track and analyze your performance, identify untapped opportunities, target the correct marketing channels, and measure results more quickly.
Available tools
Semrush helps you find effective keywords, research competitors, and launch pay-per-click (PPC) and social media marketing campaigns from one platform. For its part, Audiense uses social listening tools and artificial intelligence (AI) to track what people say about your brand or business, helping you run focused ad campaigns.
Both services offer a free version with limited access to all features, letting you sample their available tools without spending.
5. Website and content creation tools
You likely maintain a website that consumers use to interact with your business, and it’s in your best interest to make your website ads look good and create an excellent first impression. Thankfully, you don’t need to be a programmer or designer to create eye-catching and effective ads and websites. Tools can help.
Available tools
Canva can help you create stunning visuals for free. Its services include anything from presentations to ad layouts. You only need to pay for access to more templates and resources. Meanwhile, Squarespace is an all-in-one platform for website needs, helping you design, host, and analyze your site. A 14-day trial is available for interested clients.
The Right Tool for the Right Job
Running a business entails choosing the right tools. While this selection highlights only some of your options, it covers the basics of what you might need to start or grow your business.
If you’re considering starting up a business or expanding one you own, consider a business loan from AsiaLink Finance. We are the number one source of online loans in the Philippines, with a wide array of convenient and accessible loans at competitive interest rates.
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