Leveraging on Digital Tools to Achieve Better Business Results
In today’s evolving digital era, it is inconceivable for a business to sustain itself without leveraging technology. Digital tools help businesses facilitate and thrive in their industry, innovate products and services, build effective client relationships, and create an inroad for them to dive into new markets.
While businesses can utilize various digital tools to execute their operations more efficiently, they should focus on the core tools that will help grow their foundations since a solid foundation leads to a successful business.
This article guides you through the essential digital tools Singapore businesses should consider and how businesses in Singapore use them to obtain better outcomes.
Key Technology Tools Singapore Businesses Should Use
Here are the essential digital tools companies in Singapore should consider utilising.
Accounting software is essential even for companies that engage with accounting and outsourcing services. This technology helps accountants and bookkeepers record and report the company’s financial transactions and allows the company to analyse and understand their business’ financial standing and health and discern the revenue and losses its business incurs.
Another important usage of accounting software is in creating and maintaining a business budget. It makes accounting calculations easier to understand, perform, and analyse. Moreover, accounting software cuts down the overall operational costs as it requires less office space and does not utilise physical data.
Business owners can choose from many accounting software options. A few popular accounting software tools in Singapore include QuickBooks, FreshBooks, Xero, and Sage. Some Singapore accounting firms like Corporate Services Singapore offer a service package that includes in-house accounting software and works with accounting software specialists.
A calendar system helps businesses to stay productive. As the company grows, it will become harder to organise its activities by memory or through a basic calendar. Schedules will be updated regularly throughout the weeks or even days. Unless the company has a system to keep up with every update, it might overbook itself and miss critical appointments.
One effective way to avoid these difficulties is by using effective planning software to keep the business organised. This tool would act as a secretary to remind every employee of his or her important meetings and assignments. Examples of planning software available on the market include Front Desk, AppointmentPlus and HouseCall Pro.
Time Tracking Software
Time and resources are valuable to any business. Companies should avoid wasting too much time on non-critical activities and focus on revenue-generating activities. A time tracking software will help companies analyse which tasks generate a profit and which tasks are a waste of time. This technology enables business owners to improve, eliminate, or outsource tasks appropriately.
Another crucial function of time tracking software is to record worked hours for payroll or billing. It tracks time spent on allocated tasks to automate client invoicing or payroll. Some well-known time tracking software on the market include Everhour, Toggl, and Timely.
Email Management Tools
Businesses are likely to use multiple email accounts to manage various company operations. Managing these emails from a single platform or tool allows businesses to remain responsive and stay organised with the huge volumes of inbound emails they receive.
Email management software offers these benefits and allows businesses to communicate better with their employees and clients. Examples of email management tools for better email management include Constant Contact, Boomerang and InfusionSoft.
How Singapore Businesses Use Digital Tools and Their Outcome?
A recent survey conducted by GetApp that interviewed more than five-hundred business owners and employees in Singapore found that 73% of local businesses utilise digital tools to increase sales or promotions, while around 55% of them use digital tools to engage in customer dialogues. Businesses and employees also use digital tools to communicate updates about the company policy and hours and address typical customer concerns and questions.
Still, almost 80% of business leaders are having difficulties finding the right software, and over seventy-five per cent are struggling with software implementation.
Moreover, harnessing the full extent of digital tools’ capabilities is challenging. Some of the most significant issues or hurdles are as follows:
- Shifting internal processes online
- Familiarising the staff with new software
- Maintaining collaboration of team and cross-team
Businesses in Singapore should start leveraging digital opportunities to expand their businesses, plan their investments, maximize operational efficiencies, and increase profits. Utilizing the right digital tools allows businesses to better understand their financial health, stay organized, and be more productive. Business owners should start rethinking how each digital tool can efficiently streamline their operations.