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  • Hemlock Business Solutions

5 Tech Tools to Optimize Your Profits!

Updated: Jun 10, 2023

Running a business is complex. From handling customer relations to ensuring your accounting records are accurate, managing your business can take a toll on your stress levels and consume your life. Is this really the way it should be? We go into business to build a better life for ourselves, not to spend countless hours worrying about when the next problem will pop up. The good news is that technology has come a long way in the past few years. There are several technology tools that can help us work smarter, not harder, while still making our businesses profitable and leaving us with free time. 1: Customer Relations Management Software CRMS is a technology that helps business owners manage relationships with current and prospective customers. Having an effective lead capture and lead nurture is vital to improve the conversion rates in your business. In addition, building accurate proposals, automating contracts, and improving efficiency in payment collection can all be done by using customer relations management software. Think of the time you can save when you don’t have to enter each payment or generate individual leads. 2: Human Resource Information System Software As your business begins to expand, it may be time to bring on some additional help. Although this can be new and exciting, it requires proper human resource management to stay in compliance with laws and regulations. Online onboarding, the compilation of employee data, employee access to pay information, time tracking, and electronic document storage are a few of the benefits of using human resource information system software. 3: Training Management System Software Customizing employee training is beneficial not only to improve productivity but also to remove a time constraint on your part. Using training management system software can provide customized employee training, even before the employee might begin work, ensuring they are ready to hit the ground running. 4: Accounting Software Accurate accounting is important not only for internal financial reporting purposes but also for remitting the proper information to government and regulatory agencies. Errors and mistakes can easily go undetected, making it important to invest in accounting software. An ERP system that can serve as both a CRM and accounting system might be the right fit for your business if you need to track inventory. Regardless, connecting your bank account from seamless integration with accounting software is vital to track income and expenses properly. 5: Project Management Software Keeping all your ideas in one place can seem like an impossible task. However, housing all of your information in one place gives you the ability to track progression and include all team members on one project, reducing silos. Nothing gets neglected when organization is prioritized, from extracting reports to updating client lists. The seemingly impossible task of organization is a little more attainable with project management software. Implementing these tools can take some time, but they can be so beneficial to your business. For some, this may be the first time you are hearing this information. If so, don’t worry! Whether you are a vetted business owner or still struggling to get on your feet, reaching out to a consultant might be what your business needs to free up time in your business schedule and still maintain steady growth. At Hemlock, we pride ourselves on staying on top of the technology that can truly help our clients, offering personalized strategies to help you throughout the implementation process. Reach out today to learn more.

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