Avoiding Errors: A Small and Mid-Sized Business Guide to Profitability

Avoiding mistakes in small business.

Avoiding Errors: A Small and Mid-Sized Business Guide to Profitability

Find out how the correct software can prevent costly business mistakes.

 

Slim margins in many industries mean the smallest errors can cost companies greatly.

 

There are few things as disheartening as that regretfully called meeting to “stop the bleeding.” A great employee might have made a mistake or went on vacation, and something catastrophic has taken place at the office. Someone will be reprimanded, possibly fired, and the near future is going to be a struggle to right the ship.

 

These sorts of mistakes strike small and mid-sized businesses hardest. Unfortunately, one mistake at the wrong time could affect a company for several years. Let’s look at a few ways the appropriate software can eliminate chances for failure.

 

Accounting:

 

One of the most important tasks of every small business is also one of its most difficult. Accuracy is paramount, but software is expensive – sometimes restrictively so. 

 

One of the easiest ways to circumvent the pricey and constantly updating software is a cloud-based accounting solution. A cloud-based solution requires less hardware, fewer headaches and greater security for a small or mid-sized business’ financials. Best for smaller businesses, every new upgrade or update to the cloud-based software is included with its low price. A company in this scenario doesn’t have to worry about this year’s tax code changes or reporting standards.

 

Compare this to an older model that requires upfront purchasing of software and server space. Upgrades can be costly but are necessary to ensure compliance. As the company changes, it experiences severe growing pains, and becomes a financial burden itself. Instead of considering this a “necessary evil,” look into the financials packages at SMB Suite. Often, the overhead costs that a cloud-based package replaces pays for the service itself.

 

Distribution:

 

This necessary task has the most moving parts – and that can seem overwhelming. Many small businesses have an old warehouse or inventory program in place, but it sits unused. Many iterations of distribution software weren’t created for real-world application, so many have been abandoned. Need to ship something out? Many small and mid-sized businesses have someone go into the warehouse and physically find it before making any promises.

 

Today this has become a habit, an excuse. Having unusable inventory or warehouse software is a very real issue, but it shouldn’t be. Warehouse management software exists today that works in real-time. It takes out the guess work and eliminates physical monthly or quarterly stock inventory. The correct software can even flag mislabeled or incorrectly placed inventory. 

 

SMB Suite Distribution Software organizes inventory and optimizes the warehouse layout. It is customizable, but even more importantly – it is accurate. The correct software not only reduces man hours in the warehouse, it also reduces stress. It is useful for single locations, but can also integrate many warehouses to create a single, efficient distribution chain.

 

CRM:

 

Internally, software can create the most effective systems to reduce a small or mid-sized business’s bottom line. But the one thing every business needs is customers. No one forgets about their customer, right?

 

Far too often, mid-sized businesses — and, to a degree, small businesses — chase numbers to determine their measure of success. They sometimes forget about the customer behind the number – and that can be the gravest mistake mentioned yet. There is no greater commodity that a growing business can have than customer satisfaction and loyalty. Customer Relationship Management software, or CRM software, is a must-have in today’s market. 

 

CRM software doesn’t mean billing and invoicing or a salesperson’s address book. The correct software will do all of that and assist the business in decision making and predicting future business. With the appropriate CRM software, marketing teams will receive insight into their most profitable customers, companies can easily see where to invest and where to cut unprofitable business. It is one of the greatest tools for every business, and often is a key between success and mediocrity.

 

SMB Suite has solutions for these three missteps found in many small and mid-sized businesses today. Subscribing to one or all of these solutions is more cost-effective than maintaining the systems in-house. Cloud-based systems are protected from break-ins or even natural disasters. Support from SMB Suite means you can worry about running your business, not about how your technology works. Request a product tour, and stop worrying about the next mistake. Let SMB Suite take care of it.

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