There are many apps and pieces of software that help a business, and some tools that also help save company money where necessary. In a time where everything is rising in cost, can your venture do without these? From project management apps to CRM, here are a few examples.
The Right Payment Processor
There are a few lesser-known but tangible tools that have a major impact on business. One of these is the payment processors you choose for your company. Payment processors provide merchant services that handle transactions. However, they’re not all the same. Some offer lower fees compared to others based on sales volume and even average sale prices. Certain providers also offer features such as digital payments and error checking to save money.
Project Management Apps
Project management is something of a skill that not many people have. However, like everything else, there’s an app for that! Today, project apps are common in many offices and professional spaces, and for good reasons. Not only do they make tracking tasks much easier, but they can contribute to lower costs. With centralized systems, efficiency peaks, and time is used more effectively. However, these apps also offer automation, budget tracking, and error checking.
Save Company Money with Digital Marketing
Digital marketing is one of those things that most modern businesses, if any, can’t ignore. The average marketing budget for a small business is between 5% and 10% of revenue. However, with the right tools and campaign, the money spent offers a pretty remarkable ROI:
- Email marketing has a massive ROI with an average of 3,600%.
- You can expect an ROI ratio of 22:1 (2,200%) with SEO marketing.
- 20% of business state increased lead generation is why they use digital marketing.
Tasks such as implementing email capture marketing are common with digital marketing campaigns. However, targeted ads, low social media entry costs and measurable results combine to save any company potentially a lot of money alongside the massive ROI.
Customer Relationship Management (CRM)
CRM is a standard tool across pretty much any SMB and larger organizations. The tools that come with popular CRM systems such as Apptio and Zoho help teams and management make the most of funding, time, and management. Although these systems cost money, reductions come in the form of efficiency through automation and streamlined processes. However, you can also enjoy enhanced data accuracy for targeted marketing and improved decision-making.
AI-Assisted Apps and Software
Automation has been around since the invention of the wheel. However, AI and automation work together to enhance and streamline many operations at any type of business. For example, an AI algorithm can analyze financial data and suggest changes for cost saving. It can also predict market change and suggest actions to avoid losses. There are powerful and popular AI apps for managing finances and saving such as Cleo, Origin and Rocket Money.
Summary
Using the right payment processor can save company money through lower costs, reduced errors and fewer chargebacks. Digital marketing can also target buyers most likely to buy with an efficient campaign. You can also use AI apps to analyze and manage your finances.
