5 Types of Software Every Small Business Needs

No matter the shape or size of your business, the right software can make the world of difference and help you to unlock levels of growth that you did not think possible. The global business software market is now worth a staggering $389 billion a year, as companies across all industries seek to accrue the benefits of the best software for small business vendors.

The right software can save you money, increase productivity, keep your company compliant, and so much more. But what are the types of software that all successful businesses should have? Read on to find out.  

1. Tax Software

As a business owner, you are completely liable for your own business taxes and for your employees. Failure to comply with IRS tax codes can be ruinous for a small business, with Uncle Sam levying tens of billions of dollars in fines every year.

Compliance can seem scary, but the right business software can take the stress out of your hands. For example, this software for automatically contesting unemployment insurance claims can ensure that you are not overcharged for this particular obligation.

2. Payroll Software

Much like taxation, getting payroll right the first time is crucially important. It is important that you provide consistent, legally compliant payroll documentation for all employees.

It is also crucial to ensure that all bonuses are paid correctly and that the correct contributions for social security and the like are taken into account. For this, payroll and accounting software is the best small business software you can get.

3. Customer Relationship Management Software

CRM software is designed to help you manage all of your relationships with customers and clients from a central, digital platform. You can track where all of your leads are in the sales process and receive alerts and automated guidance on which customers require special attention. CRM software is one of the fastest-growing services in the IT world, with major players including Salesforce, Hubspot, and SAP.

4. Payments Software

It is also important to consider the different types of software that can benefit your customers. Chief among these is payment gateway software, which all businesses should use to facilitate secure transactions with your business.

You can use online-only solutions such as PayPal or Alipay, or you can partner with major credit card providers such as Visa. What matters is that you have accessible and secure payment software that makes it easier to make purchases from your company.

5. Employee Management Software

Finally, don’t forget about the productivity gains you can enjoy with the right software. This is why employee management software is so important.

This type of software includes performance tracking software, which can also offer incentives and gamification to help push your employees to be the best that they can be. You can also use auditing software to see if there are ways to reduce waste in your workplace, and so on.

Learn More About the Right Types of Software for Your Business

These are the main types of software that all successful businesses need to have to stay competitive and compliant in 2022. To learn more about the software that you can use to level up, we have got you covered. Make sure to consult our dedicated daily software guides to learn more.