Small and medium-sized enterprises had a challenging year in 2020, there is no doubt about that. About 100,000 businesses have closed as a result of coronavirus-related measures and uncertainties. Other than restaurants, companies such as professional and home services have fared better in this pandemic economy than retail and manufacturing, which have fared worse.
Advances in software and automation have helped many small enterprises alter their business practices in light of the current market realities. It is only a matter of time before these means of payment become more widespread. By 2021, contactless banking is estimated to handle $161.41 billion in total transaction value. Keep in mind how low-cost technology may help small businesses deal with significant challenges while keeping customers informed.
The 5 Best Small Business Software Tools
There are five software solutions for small businesses that you might want to look into. When it comes to small firms, these solutions have proven themselves time and time as reliable and cost-effective.
Xero: The best accounting software.
As an overview, companies and accountants alike can use it to monitor their finances and working capital as well as verify their customers’ financial records in real-time. You can use financial KPIs to create financial reports that show how well the company is doing in comparison to previous periods, real or predetermined. In addition to credit cards, businesses can accept online payments in a variety of currencies using Stripe and PayPal. It’s easy to send and receive invoices with Xero’s support, and you can even set up automated payment reminders for customers who don’t pay on time!
Shopify: The best ecommerce platform
Using the built-in editor, users can construct pages, sell thanks to regional language support, and leverage marketing tools like metadata, unique URLs, and easy promotion on social media sites such as Facebook, Twitter, and Pinterest. To aid with tasks like inventory management, Shopify offers a wide range of plugins.
Trello: The best project management software
Though planning and invoicing cannot be paired, it is important to emphasise that it works for the majority of projects. Keeping track of tasks, due dates, card covers, and more is easy with this app if you manage a small business. Attachments such as files, photographs, or papers can be included in any program management pipeline.
Toggl: The best time-tracking application.
For the most part, small businesses don’t need or want the features featured in many of the amazing software solutions that are out there. Using Toggl, employees may track time spent on a variety of platforms, including computers, mobile devices, and third-party applications. They only have to click Start once, and the timer will begin running. You can use Toggl for free, but there are premium add-ons available, starting at $9 per month. For the first 30 days, you may try out all of Toggl’s features at no cost.
PayPal: The best online payment solution.
PayPal and Stripe are two options for making a safe online payment. Though PayPal and Stripe both charge an online payment fee of 2.9 percent + $0.30, PayPal is the better option for small businesses and entrepreneurs. Non-technical people can set up and use PayPal, making it a better option for small enterprises than Stripe. PayPal has become one of the most utilised payment methods in the e-commerce industry since it accepts bank cash and credit card payments. When a PayPal button is included, payments can be processed in a matter of seconds with just one or two mouse clicks. For both businesses and consumers, PayPal is one of the most convenient payment options available.
Our higher-tiered plans give firms robust marketing automation tools, beautiful dashboards and analytics, team leadership features, app connections, and sales pipeline management, among other things.
Finally, the cloud is ready to take centre stage! Mobile apps allow you to stay in touch with your clients at all times, so you don’t miss out on any of the fun.