Is Business Management Software Worth It for Startups?

Launching a startup in today’s economy is not easy, to say the least. With labor and operation costs going up, business owners face greater pressure on budget management. It is not out of the ordinary that they are more skeptical about spending money on once-perceived discretionary expenses, such as business management software. If you are a new business owner who relates to this and is wondering whether business management software is worth it for startups or not in today’s business landscape, this post is for you. 

In this blog post, we’ll be covering what business management software is and examining how it can benefit startups in today's competitive business world.

What Is a Startup?

In its simplest definition, a startup is a newly established business. It is typically owned and run by one or more entrepreneurs and often encounters a high risk of failure. Nevertheless, they can be unique and rewarding workplaces where one finds an opportunity to grow their knowledge and skills. 

What Is Business Management Software?

Business management software is exactly what its name sounds like. They are applications created to help manage a business by automating tasks and streamlining operations. Depending on the business management software's features and tools, they can improve various aspects of business operations, such as time tracking, workflow management, customer relations, payroll, and data collection. Ultimately, they can help boost productivity, reduce work time, as well as save operational and labor costs. 

Common Features of Business Management Software

While business management software are all created to aid in workflow management, they are not built equally. This means that the features of one software may not be available on the other. Nonetheless, there are multiple common features that these software typically share. Below are some of them. 

1. Project or Event Management
2. Customization
3. Integration Capabilities
4. Task and Calendar Management
5. Centralized Database
6. Payroll Management
7. Staff Management
8. Data and Analytics
9. Workflow Automation
10. Communication and Collaboration functionalities 

Why Startups Should Invest in Business Management Software 

If you are running a startup for the first time, it may be hard to decide whether business management software is valuable for your operations or not. After all, this software does not always come free of charge. Regardless, these five reasons why startups should invest in business management software are still worth knowing. 

1. Support Remote Mode of Operation

Unless you're living in a rock, you are probably already aware that many workers today are favoring remote work. As per a report from Forbes, 65% of workers desire to work remotely full-time. Given this, it is no surprise that 70% of startups offer remote work options nowadays. If your startup is a part of this majority, then a business management platform could come in handy in managing your processes and staff. 

A business management platform works on any devices that are connected to the internet, making it a suitable tool in remote modes of operation. It can help track work time and enables workers to submit their outputs from anywhere. Additionally, it is equipped with communication features to help businesses address issues promptly, manage their teams, and keep everyone on the same page. Business management software also features integration capabilities, allowing workers to use all their essential tools in one place. This can help enhance workflow efficiency, save time, and improve results. 

2. Save Time and Resources 

Small business owners are some of the most overworked people in the corporate world. Believe it or not, the majority of small-business owners state they work at least 50 hours per week. This is more than the average work hours of U.S. employees, which is 34.7 hours a week. 

Embarking on a new business venture requires a lot of your time and energy. From writing a business plan to finding investors, it’s clear that you could benefit from some extra help to manage everything. This is where business management software can help. 

Using business management software can be a great time-saver. With its automation and streamlining functionalities, you can check off time-consuming routine tasks like sending payments and emails from your to-do lists faster. This frees up your time so you can focus on the tasks that require a higher level of skills and are more crucial to driving your business forward. Besides saving time, management tools can also help you save money. By automating repetitive processes and centralizing data, you can reduce manual labor, leading to lower labor and operation costs. 

3. Support Scalability 

We can all agree that the corporate world is ever-changing. Hence, it is just practical to invest in tools that can continue to bring value and support the growth of your business, no matter the changes. 

Business management platforms provide the flexibility to accommodate changes in your processes and support increased workloads and workforce. They feature tools that enable easy and fast onboarding, automate multiple tasks, and streamline a number of processes. Ultimately, they do not just offer efficient solutions but also support sustainable growth for businesses in many industries. 

4. Improve Customer Service 

Did you know that enhancing customer experience can increase sales? According to McKinsey research, improving customer experience can boost sales revenues by 2 to 7% and profitability by 1 to 2%. Adhering to this finding, it is safe to say that customer experience really matters. 

The customer service of your business can be directly affected by your operations and overall workflow. When your business is disorganized, your staff can become more likely to be stressed and perform poorly, affecting the services in your business. While it is not always guaranteed that business management software can stop issues in your business, it can certainly help you avoid them. By improving workflow efficiency, you are not just boosting overall productivity but also keeping your staff healthy mentally and physically. This enables them to address your customer’s needs faster and prevent further issues from arising. 

5. Digitize Business Processes

If you want to stay relevant in today’s dynamic business landscape, you may want to take a moment to consider digitalizing your operations as early as possible. Digitalization is the process of converting processes into digital technologies. According to Gartner, the majority of businesses, exactly 91%, are engaged in some form of digital initiative. Meanwhile, the same report states that 87% of senior business leaders say digitalization is a priority. 

Business management software is just one of the many applications that assist in the digitalization efforts of many organizations today. Besides streamlining operations and automation, business management software can integrate tools that can improve your processes, such as scheduling, staff management, and more.

Grow and Thrive in Today’s Competitive Business Landscape With StaffConnect

When looking for business management software that suits startups, it is critical to look for one that is scalable, customizable, and easy to integrate. If these are the qualities you are looking for in business management software, StaffConnect could be the suitable choice for you. 

StaffConnect is a business management software engineered to help both small businesses and large corporations. It features practical tools and functionalities that help in managing staff and improving business operations. Some of its valuable features include Whitelabel custom branding, GPS Check-In and Out, Calendar Integration, unlimited email, automatic reminders, data collection functionality, and a survey maker. 

StaffConnect is your all-in-one powerful hub that streamlines your processes and automates tasks, enabling you to save time and money. If you are still uncertain whether our app can help your startup grow and thrive in today’s competitive business world, you may book a free demo today and experience StaffConnect yourself first.