Time keeps changing, and moving along with it is obligatory.
Photo by John Schnobrich on Unsplash
The fast-paced world keeps replacing the trends with no time. While you understand a new change, another evolution on it will occur. Changes are all around the globe, say about people, consumer taste, technology, and the economy. Embracing the change and adopting it is necessary to sustain. Technological advancement is rapid, and that leads to many other changes. The organization has to change the way it works with the changing time. The age-old companies have faced and experienced several changes in their business processes multiple times. When business owners see opportunities for growth, it would surely require a small or big change in its current process. Different business models enter the market each day with strategic planning and unique ideas, and to compete with them the existing business needs a revamp. By the end of the article, you will get to know why business revamps are necessary at times and some of their tools.
Why Do Business Processes Need A Change
Here are some of the reasons why a business needs to change its working process at times.
To Sustain And Grow
Growth is the thing businesses strive for. But, sustainability and growth will only occur when the company works with the latest technology and optimize all the operations. To sustain in the market, business needs to stay relevant otherwise, the competitors may take over. So, embracing the change and adopting it as fast as possible will bring opportunities to grow.
To Increase Customer Satisfaction
When new trends enter the market, the preferences and tastes of the customers also change in order to follow the trend. An excellent product or service can be easily replaced by its substitute if it has a better user experience and brings any change that becomes a trend. Therefore, to improve customer experience, the business needs to offer them according to their choice.
To Enter New Markets
If the business owners plan to build a new venture, they will need to implement a new working process according to the type and market condition. Often it is seen that a company’s initial product or service fails, but when they introduce another one, it brings a drastic change and profits. For example, Apple started with selling computers, but today most of its revenue comes from iPhones.
Top 5 Tools To Bring The Change
Listed are the tools that can be used by the organizations to improve the efficiency in the functions and bring the necessary change.
HR Tool
Human resource is the most valuable asset of any company, and their performance is a parameter to calculate companies’ growth so, their management should be the priority. Human resource software available can automate all the functions from recruiting to off-boarding.
The use of the software will not only save HR managers time but also ensure preciseness in the activities. Calculating salaries, documentation, employee engagement, time and attendance tracking all these processes will be carried out in a modernized way. Below are the two HRM software suggested:
factoHR– it is a complete hire-to-retire solution. Its features are payroll processing, onboarding, time and attendance tracking, expense management, performance management, and employee self-service portal.
OPENHRMS– it is an open-source human resource management software. With engaging features like HR metrics, HR reports attendance and leave, payroll, discipline tracking, and loan management.
Marketing Tool
Unique marketing strategies are always tried by the firms to acquire more customers and increase sales. Marketing can be challenging at times and take time to deliver results. To get the desired result, it needs research of the market and different variables together can make a better marketing plan. Using marketing tools will regularise the processes and make tedious processes in less time. Marketing tools can help in timely content creation, social media management, running ad campaigns, and giving real-time insights into the market conditions. Suggest two marketing software below that will ease the marketing process.
HubSpot– marketing software will bring all the marketing tools and data under one roof. It enables social media management, ad campaign tracking, manages SEO, videos, and blog creation. Helps in converting the leads and tracking them with customized report generation.
Marketo– it is one of the widest used marketing software supported with many features like email marketing, digital advertising, lead management, customer relationship management, and measure of marketing programs.
Communicating Tool
Clear communication is extremely important within departments in a business. Miscommunications can create misunderstandings that will not allow companies to obtain the goal. Having a communication tool is one of the most basic needs for any organization as the activities are interrelated and need a constant connection. Communication software systems implementation was always preferred, but its needs have risen with the pandemic and remote working models. The tool should provide a real-time interface, document sharing, video conferencing, employee engagement, and information storage. Listed two easy-to-use communication tools.
GoToConnect– it is a communication and collaboration tool altogether. It offers a cloud-based contact center, video conferencing, virtual events and platforms, remote device access.
RingCentral– one of the global cloud platforms that are supported 24/7. The features are team messaging and collaboration, screen sharing, video conferencing, and real-time analytics.
Accounting Tool
A business has numerous calculations involved on a day-to-day basis. Manually calculating them is an age-old method. Accounting needs accuracy, and when humans carry out the functions, it gets prolonged. Accounting software has existed in the market for a long time and has developed from time to time. The human inputs are reduced, paperwork is eliminated, and changes of errors get reduced. All the statutory laws can be followed easily, and reconciliation is carried out hassle-free. Below mentioned are the two accounting software.
quickbooks– it is one of the widely used accounting software. It offers a real-time view of the cash flow, invoicing, banking, taxes, and expense calculation.
Xero– it is an cloud-based accounting software that offers bank connection, reconciliation, accepting payments, claim expenses, bill payments, and data capturing.
Project And Performance Management Tool
Tracking the employees’ performance and project management is required to track and analyze to see whether it is working in the correct direction. The responsibilities of all the employees should be clear, and the hierarchy levels with the reporting officers should be decided. A small organization can anyhow work without project and performance management tools, but the larger organizations working can not be imagined without them. Therefore, a revamp in the project and performance management tools will indeed have a positive impact on the business. Suggested two software below.
Engagedly is a progressive performance management tool that offers continuous performance evaluation, analytics, workflow planning, employee growth, and development.
Trello– it is the widest used project management software. The features are managing members, OKR based performance management, workflow creation, and sharing of files.
Wrapping It Up
Changing with time and walking along technological advancement are now the basic needs for business growth and sustainability. Changes in technology, customer preferences, the economy will be constant, capturing them is vital. Set a clear objective, plan, strategize, and always prioritize initiatives to implement the changes. Hope this article has helped you know the need for business revamp and their tools. All the best for your future business revamp.