By Hannah Stevenson
With research showing that UK SMEs are cautiously optimistic about the future, but that many are unlikely to invest in new technology in 2020, it’s clear that most small to medium sized businesses face a barrier to growth thanks to their limited investment in new solutions.
It’s understandable that many businesses with limited budgets might feel that technology and software are a luxury they cannot afford, but with strategic investment they could drastically improve their returns and grow their organisation.
To help any SME owners who are unsure of how to approach investment in software, we’ve put together a list of some of the key products you should consider this year.
This might sound obvious, but every business needs to consider cyber security, even if their work doesn’t rely heavily on computers. Any customer data, communications or employee details that you hold on your systems are valuable to hackers, so it’s important that you protect it. A free version of antivirus software won’t cut it anymore; today you need to have a solution with a range of functions to allow you to protect your network and business.
A CRM System
A Customer Relationship Management (CRM) system can gather together all of your customer order information and automate basic functions, such as reminder emails and payment updates. Cutting-edge solutions like intelliO have all the basic functions that any organisation needs, as well as additional features that can swiftly be added to make the software perfect for businesses across the corporate landscape.
Businesses that regularly share digital files should consider investing in a quality document sharing solution that will allow them to safely and securely share files both internally and externally. These solutions allow you to view and edit documents, meaning that you can easily collaborate with clients or team members and run your organisation efficiently.
A POS Solution
SMEs that sell products direct to customers need to invest in a quality Point Of Sale (POS) system. With many customers avoiding carrying cash in favour of using cards and even mobile phones to pay for goods and services, companies need to stay ahead of the market by providing a POS system that is reliable and will deal with every form of payment. As such, it’s important that retail firms consider taking on a POS system to ensure that they’re able to meet the needs of every customer.
Any SME that runs its Human Resources in-house should consider purchasing HR software to ensure that its processes are compliant with relevant laws and that it offers employees the support they need. After all, with numerous different dates, documents and details to remember it can be easy to forget something and miss an important development, so a HR software solution could really make a difference and streamline the process.
Investing in new software can be expensive initially, but it can lead to long-term improvements to your firm’s business practices, customer retention and brand. Explore the solutions on this list that you should be using to drive your business forward towards a bright and prosperous future.