Thursday, December 17, 2015

Computer Software for a Small Business

Investing in a good computer software is essential for effectively managing a small business. It not only saves time & money but also brings accuracy to the work. A small business owner who is preoccupied with so much work, a good computer software gives him / her required information & ample time for planning. It also helps him / her in making timely decisions.

Buying an ERP (Enterprise Resource Planning) is one of the best options for a small business. It supports a number of business functions i.e. accounting, sales, procurement, human resource, production, inventory management, CRM (Customer Relation Management) etc. In an ERP different business applications are integrated in one software. Therefore, you do not have to buy different computer programs for different tasks. The data is shared & flowed between different functions this saves data entry operator from feeding same data more than once.

When you decide for an ERP then go for an online cloud based ERP. This will allow you to work from anywhere around the world. Also you will not be depended upon your computer as you will be using cloud data storage and you will be not using your hard disk for storing the software or the data. One more advantage is that  you will be able to access your data by any other device i.e. tablet, smartphone etc.

A cloud based ERP is need of the hour as it is a one of the vital tools to run & manage your small business effectively.

I hope you found the above information helpful. Please feel free to comment.

Tuesday, December 8, 2015

Managing Day-to-day Affairs in Small Business

When we talk about managing small business, our daily actions are very important as they may make or break the business. Taking right actions means, making right decisions and it is only possible when you have true & complete information. Make sure you are always fully aware about everything concerned with your business.

Do not leave this for your employees. In a small business, usually owner has to wear many hats therefore he/she should have sufficient knowledge almost about everything related to the business.

Some of the things which you, as an owner, should always know are:
  • Your current payables & receivables.
  • Your latest bank position & cash in hand.
  • Your expected sales & stock position.
  • Your competitors’ activities.
  • Your product / service cost till the delivery of the product / service.
  • Your production capacity utilized & idle. Also your production efficiency.
  • New market trend.
  • Likeness & dislikeness of your customers.
  • Any change in rates of your inputs.
  • Government rules, regulations & taxes and their updates.
  • Any other news which may affect your business in any way.

The more you are informed more you will be able to make swift & right decisions. Making right decisions at the right time is the key to successfully managing your small business. I hope you found the above helpful. Please feel free to comment.