The dynamic world of business has changed tremendously in recent years and the key reason behind this transformation is undoubtedly technological advancements. Tech developments have introduced new tools and platforms, which when used adequately, can foster the growth and efficiency of a business. Since there are so many best business platforms and tools available that sometimes it becomes a hassle to decide on one, this article will present some of the key platforms and tools you need for your business, including but not only open-source BI, CRM, project management tools, financial management tools, marketing platforms and so forth.
Table of Contents
Best Business Platforms And Tools: An Overview
Open-Source Business Intelligence Platforms
Open-source business intelligence (BI) platforms are arguably one of the most valuable assets technologies have brought to businesses. Business intelligence platforms make it possible for businesses to present their data visually, and as a result, aid them in making data-driven decisions. To put it simply, such a platform can digest and analyze a large set of data and transform it into analysis and visualization. Then, businesses are equipped to extract dashboards, reports, or any kind of data visualization. Lastly, this helps businesses know what could be improved, what performance a product had, or understand the trends of the business.
An advantage of open-source BI platforms is that they can collect data from different departments and sections of the company, as well as external sources. In the end, all of this data is presented in a unified form, which would be rather time-consuming if it were to be collected and presented by humans. In addition to that, this way data visualization reduces the chance of human errors that might happen when entering all that information at once. Needless to say, the BI tools’ ability to present real-time insights and predictions is another esteemed pro.
Customer Relationship Management (CRM) Tools
Customer Relationship Management (CRM) tools are another integral part of the functionality of the majority of businesses globally. CRM tools are the mediator between a business and its customers. Their functionality is mainly on, but not limited to, customer interaction and customer satisfaction, especially the electronic CRM (e-CRM). Hence, such features as customer support are part of a CRM tool. The operations of a business that does not use CRM tools are rather limited, but also way more time-consuming. That being said, it is understandable why all businesses opt for CRM tools and their latest updates when discussing business efficiency and growth.
CRM tools also offer other features that are beneficial for businesses. Some of those features include the tool’s ability to score leads on its own or send automated follow-ups to the customers. These features specifically are very cost-effective for businesses as they are done automatically, and human labor could be used elsewhere in the business operation. CRM tools also offer detailed analytics for prospects, which again helps the business to make the right decisions based on the analysis.
Also Read: What is CRM: Top 15 CRM Software With Sales & Marketing Automation Capabilities
Project Management Tools
Third on the list, but not of less importance than the previous two, come project management tools. All businesses have some type of project to fulfill, be it short or long-term. To ensure that any process is efficiently completed within the given time, budget, and resources, project management tools are in to save the day. These platforms focus on many things, such as tracking the progress of the project, allocating resources needed adequately, and assigning tasks to the respective contributors. Additionally, project management tools make sure that the project is organized in a way that fits within the project timeline. Amongst many, agile project management seems to be the leading methodology.
Apart from facilitating the whole project management process, project management tools have also been developed to assist the collaboration of team members. Usually, project management tools offer communication channels where the project contributors can communicate, or they offer shared workspaces where everything is accessible from other contributors. As a result, all of the participants in the project are aware of what has already been done, what the bottlenecks are, and what is still to be completed.
Financial Management Tools
Finances are another crucial component of every business. Technological advancements have brought many solutions that help businesses operate more efficiently, among which are financial management tools. Accounting, budgeting, and financial analysis are only some of the main tasks that the financial teams have to take care of for a business. Previously, this was a rather nerve-wracking job to do because of the precision and accuracy that is required when doing any of the financial tasks. However, that experience has changed tremendously for the better ever since financial management tools were introduced.
Some of the best profits a business can get from financial management tools are their ability to generate invoices on their own, track all business expenses in one place, and have the necessary preparation for taxes at the end of the fiscal year. Apart from that, financial management tools offer the possibility to generate real-time reports which can serve as the basis for further analysis, and help businesses make decisions that are based on current data. Furthermore, financial management platforms also possess the so-called “auxiliary tools” which primarily serve the management of the business to make reasonable financial decisions.
Marketing Automation Platforms
Marketing is also one of the highly important departments of every enterprise. Based on recent activity, although traditional forms of marketing such as TV ads, newspaper ads, and the like are still present, the majority of business marketing is being done in the digital world. The reason behind this switch of settings is primarily because people use laptops, phones, computers, and all other devices to stay in touch with almost everything nowadays. Hence, with or without their will, businesses needed to move to the digital world and invest in efficient marketing strategies that could reach the targeted audience.
While there are many advertising and digital marketing tips out there, marketing automation platforms play a huge role when it comes to preparing a marketing strategy and plan. Their main purpose is to automate repeated activity, such as tracking a campaign and reporting on how it is doing on a daily, weekly, or monthly basis or tracking the engagement metrics for anything online. Then, marketing automation platforms also assist with email marketing and offer enhancements when it comes to social media management.