Business Management Software: Just Another App or a Transformative Force?

September 02, 2020
#Software #Technology #Business

Business management software is a large category that encompasses a wide variety of solutions. Let’s look at how it can transform your work routine.

What Is Business Management Software?

Business management software (BMS) is a type of system that improves the operations of your company, streamlines tasks, and automates business processes.

As you can see, this definition is rather broad. However, so is the range of tools and applications that can be called BMS. There are solutions for all manner of different industries, methodologies, and approaches. One unifying factor is that this software helps you manage your business. For that purpose, it often includes various guidelines, advice, and plans for you to maximize the efficiency, performance, and profits of your organization.

Did you know that somewhere between 20% and 30% of revenue is lost simply due to non-optimal processes? To pinpoint what type of BMS would be the most helpful in your situation you first need to get an understanding of their variety.

Do You Really Need Another App?

An independent study called The False Promise of the App Economy aimed to get an insight into how applications affect IT work. The details can be found in the link above. It has shown some interesting results.

First, let’s look at the number of apps regularly in use. 74% of the survey respondents have stated that they have more than five applications running at any particular point in time. That’s five different things to pay attention to. In addition, for 16% the number of apps used on average goes up to fifteen.

However, these numbers by themselves don’t say much. Let’s look at what respondents think about their situation. 60% say that there are too many apps needed to do even simple tasks, and 67% claim that they would prefer if all the important information was available in a single window.

So, wouldn’t adding another software tool in the form of business management software make the situation even worse? Quite the opposite. In fact, it can replace multiple apps by itself providing you with a comprehensive dashboard and a wide range of functions in one place.

BMS: Another App or Transformative Force

Types Of Business Management Software

Not all BMS systems are all-encompassing hubs where you can control the entirety of your company. There are systems like that, they are called ERP (more on them later), but more often than not business management software focuses on one or several related aspects of running a business. That way it can fine-tune and perfect the tasks such a system performs. Also, since each company has different goals and objectives, it’s crucial to choose a software solution that fits.

Below are the major types of business management areas and respective tools and features. As you can see, it corresponds well with the types of enterprise software.

  • Human resources (HR): This type of software is used for performance assessment, hiring/recruiting processes, payroll, and other workforce management tasks. There are tools that track the working time of each employee and analyze their productivity.
  • Finance and accounting: Along with complex financial analytics of income, expenses, and much more, this software manages invoices, bank statements, accounts, and most facets of cash flow.
  • Workflow management: Also known as task management tools, they improve the overall quality and the organization of work tasks. They often allow you to track time for each individual task, set deadlines and schedules, and providing project managers will all necessary tools for their job.
  • Logistics and inventory management: This type of business management software doesn’t just handle your warehouse and stock. With these solutions, you can follow and control the entirety of your supply chain, as well as all shipments coming to and from your organization.
  • Customer relationship management (CRM): A type of system that helps companies keep track of their clients, both current and potential ones. It’s more than just a contact list. It’s an entire database with detailed information about each person and interactions with them.
  • Marketing and sales automation: Along with the described CRM solutions, this area of business has a wide range of business management software tools. From entire eCommerce systems to automated email marketing chains and even point-of-sale software.
  • Social Media Marketing (SMM) and content management: Organizations can host documents, business files, and marketing content. After the setup and configuration, the process of sharing it within and outside of the company can be automated.
  • Business Intelligence (BI) and data analytics: These tools make informed business decisions easier allowing you to base your tactics and strategy on relevant data. You can read more about this type of software in a separate article in more detail.
  • Enterprise Resource Planning (ERP): business management software that encompasses nearly all business activities. 

How Business Management Software Boosts Efficiency

How Business Management Software Boosts Efficiency

It Streamlines Task Management

BMS has all the necessary functionality to make task assignments, progress tracking, and collaboration easy and quick. Project managers can clearly see the bottlenecks and clear up the backlog. A visual task management system right inside your business management software will also reduce the number of apps you have to use on a daily basis.

It Tracks Business Processes and Their Progress

Just like individual tasks, business processes have trackable progress. You can make adjustments and shift the focus of a large number of jobs at the same time. Also, you always see how efficient your company is thanks to the tracking functionality.

It Logs and Documents the Processes and Results

Proper documentation is necessary not only for compliance but also for efficient and adaptable business. By analyzing your previous work you see areas where you can improve. Having documented details of your business processes helps both new hire and experienced employees better optimize and grasp their tasks.

It Cuts Down Expenses

Not only do you don’t need to pay for the software that becomes obsolete after the implementation of BMS, but there are other cost-saving bonuses there too. The finance management this type of software offers can pinpoint other money-saving opportunities as well.

It Improves Relationship Between the Company and Customers

Consistent work of high quality is something that your clients undoubtedly notice. Tools that provide quality control you can maximize the chances of your customers being satisfied with your goods and/or services. Consistent communication channels and task review features make that possible.

It Enables Scalability for Future Growth

Custom software is naturally very scalable. It is developed for your company and grows along with it. Business management software doesn’t just change with you, but also helps you expand without losing productivity or workflow organization.

It Facilitates More Efficient Team Collaboration

BMS systems enable and encourage close collaboration in your day-to-day workflow. This type of software makes it easier for different departments to communicate and exchange ideas. Such input helps you create a sense of community that will only help with the completion of tasks.

Our Take on Business Management Software

You might ask, what makes us qualified to talk about business management software. The answer is quite simple. We have developed our own system from scratch to use within our company. Since it wasn’t originally intended for commercial use, we got to implement the features that would be actually helpful to us at Digital Skynet. We wanted to make sure that the system doesn’t just work, but makes the job of our team easier.

After experiencing the benefits of our BMS system, now called IBISS, we have decided to allow other companies and individuals to try it too. So here is what you can expect from it.

  • Business Intelligence. Comprehensive analytics with detailed data visualization that allows you to make informed strategic and tactical business decisions.
  • Task Management. An efficient organization is a prerequisite of success. With IBISS you’ll always keep sight of the priorities and see your projects to completion.
  • CRM system. Maintaining communication and boosting your customer retention made easy with extensive CRM functionality.
  • Project Management. Managing an IT team is no longer like herding cats. IBISS allows you to plan out, organize, and allocate resources for any of your projects.
  • Employees Management. Engage and get an insight into the productivity of your staff provided by a user-friendly employee monitoring feature.
  • Integration and Flexibility. You don’t need to break your habits for IBISS. The systems you are already using can be integrated into one centralized hub for easy access.

In Conclusion

The introduction of business management software in your workflow is guaranteed to make some changes. Their scope is often hard to predict. Sometimes staff just shifts from several systems to a single one saving some time, and sometimes the efficiency skyrockets getting your company to that next level. If you’re not sure which BMS to choose, try IBISS. That way we’ll always be able to help you if you have any questions. Just shoot us a message.

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