Business software and Tools

Business software is any software or set of computer programs used by business users to perform various business functions. These business applications are used to increase productivity, to measure productivity and to perform other business functions accurately.

By and large, business software is likely to be developed to meet the needs of a specific business, and therefore is not easily transferable to a different business environment, unless its nature and operation is identical. Some business applications are interactive, i.e., they have a graphical user interface or user interface and users can query/modify/input data and view results instantaneously. They can also run reports instantaneously. Some business applications run in batch mode: they are set up to run based on a predetermined event/time and a business user does not need to initiate them or monitor them.

Many kinds of users are found within the business environment, and can be categorized by using a small, medium and large matrix.

Common types of software used in business are:

  • Word processing programs.
  • Accounts software.
  • Billing software.
  • Payroll software.
  • Database software.
  • Asset management software.
  • Desktop publishing programs.

Business management tools

These are all the systems, applications, controls, calculating solutions, methodologies, etc. used by organizations to be able to cope with changing markets, ensure a competitive position in them and improve business performance.

There are tools related to each organization’s department which can be classified for each aspect of management.For example: planning tools, process tools, records tools, employee related tools, decision making tools, control tools, etc. A classification by function would consider these general aspects:

  • Tools used for data input and validation in any department.
  • Tools used for controlling and improving business processes.
  • Tools used for data consolidation and decision making.

Nowadays, management tools have evolve dramatically in last decade thanks to fast technology advances.

Most Used Tools

In 2013, a survey conducted by Bain & Company showed how business tools are used around the globe. These tools reflect how their outcomes contribute to each region’s needs, considering the downfall and companies’ market situation. The top ten includes:

  • Strategic planning
  • Customer relationship management
  • Employee engagement surveys
  • Benchmarking
  • Balanced scorecard
  • Core competency
  • Outsourcing
  • Change management programs
  • Supply chain management
  • Mission statement and vision statement
  • Market segmentation
  • Total quality management

Advantages Of Business Software And Tools

  • Cut costs by automating routine tasks
  • Improve the efficiency of staff
  • Increase or measure office productivity
  • Streamline business operations and accounts
  • Replace paper processes

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