The investment in software should ensure a business experiences a number of cross-company benefits. There are four measurable ways to decipher whether a company is optimising the use of software. These include process efficiency, accelerated growth, data security and cutting costs. The combination of these factors will improve office productivity, streamlining business operations and accounts.
Mundane daily tasks, that take up both time and manpower incurs company costs that could otherwise be avoided. Invoicing, order management and cash collection are all examples of processes that could be automated. By making these systems automated, staff to be redeployed to higher-value activities and investment in new hires who would be managing these tasks can also be avoided. "Why would you do things by hand when a computer can do it for you? For example, your finance team might be maintaining ledgers in an Excel spreadsheet. The business could be feeding data into an accounting system automatically, thereby eliminating the time-consuming, expensive and error-prone manual data entry," says Nick Thompson of DCSL Software.
Effective software can help accelerate company growth. The more efficient running of systems allows room for evolution and development. User-driven innovation is an important factor, as software gives companies the ability to apply practical know-how to tailor apps and processes in a way that enhances performance. The improved visibility will also allow a business to upsell or cross-sell to their existing database, whilst company efficiency appeals to new customers. With an expanding base, company expansion is made possible sooner and accomplished faster.
To instill a privacy conscious work ethic in the workplace, data security is an essential and priority benefit when using company software. Nick Thompson says that, "Data held loosely on spreadsheets, on servers and PCs might be seriously compromising your security obligations to the Data Protection Act, and soon GDPR. A cloud or in-house database keeps data securely (usually encrypted) and only allows for access to authorised people. It also reduces the possibility of it being downloaded in bulk by unscrupulous or disgruntled employees!” Antivirus software is a good place to start, and a cloud or in-house database should be adopted, where data is protected by experts whose job it is to develop systems to combat the latest security threats.
Another main benefit is the cutting of company costs. Less time is wasted on data extraction and information can be accessed more easily. Therefore, more informed decisions can be made, efficiently. These effective systems reduce operational costs and allow employees to make more informed decisions. This in turn will affect the quality of customer service. All in all, benefiting the company financially.
Although there are numerous benefits to company software, these four factors are paramount in assessing the effectivity of the program. By cutting company costs, replacing paper processes and addressing staff productivity by using an effective software, a company can improve communication within the business, with customers and partners. This will also contribute to company development, a decreased expenditure and an increased revenue. Plus, data security will secure private information. Data leaks are therefore less likely, preserving the company's reputation.
By Hannah Richards, Amplified Business Content