- May 07, 2018
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Check out these Softwares that made Business Easier
The customer relationship management (CRM) software is a software used for sales and marketing functions by companies. This software allows customers to place orders, make payments and access product catalogues on the web. The CRM software is mainly used across sales, marketing and customer service departments. It manages information about customers and their respective transactions with a company.
Customer Relationship Management (CRM) software
CRM software help to design new products based on customer experiences. The sales department use the software to track the sales process from initial contact through the final purchase.
It helps a customer support organization to track ongoing correspondence with customers. Cloud computing – based sales force CRM is the world’s most widely used sales force automation solution. This software meets the needs of companies ranging from small organizations to large international enterprise.
The Enterprise Resource Planning (ERP) software provides centralized integrated software application to help manage and coordinate the ongoing activities of the functional units of an enterprise. These functional units include sales, marketing, accounting, finance, customer support and human resource units.
ERP softwares are customized to meet all the company’s requirements. This software has been a great asset to companies. It integrates information systems across departments by implementing databases. It helps project management and makes customer service better. It also helps to provide better management for the global network of companies.
This provides an integrated system that run in real time without relying on periodic updates. It has a common database which supports all applications. It has a consistent look and feel through each module. The software is installed without elaborate application or data integration by the information technology department.
This is a software responsible for monitoring sales activities, debit and credit accounts. It keeps tab on the goods that have been paid for and those yet to be paid for. It is a useful business tool that helps organizations to monitor efficient customers. It is one of the software modules that make up the Maxton business system. The software works well with a record of about 12,000 customers.
The sales ledger displays the statements of account via email as softcopy. This helps customers to identify the items they have not paid for.
It displays management reports which include outstanding invoice reports, slow payers report, customer transaction analysis, debtor’s letters, credit limits and turnovers.
It allows self-audit and status report on the constituency. It holds invoice archive and receipt book archive for any number of years. It holds an optional note page for each customer a well as all the normal contact details. It allows integration with point of sale invoicing, stock control, job-costing, sales order processing, contracts ledger and general ledger.
It displays payment performance reports by customer. This shows payment dates for each customer.
The sales ledger has been very useful to organizations involved in wholesale and retail of different products. It has reduced paper work and made transaction recording faster.
THE PRODUCTION FUNCTION
The production function is a software used by organizations to relate the output statistics to the amount of inputs; capital and labour. This is software that helps organizations to maximize profits. The production function is the functional relationship that exists between physical inputs and physical outputs in an organization.
The function is an assumed technological relationship based on the current state of engineering knowledge. This software is designed to address allocation efficiency. This is done by subsequently monitoring production flaws and covering up the loop holes to increase the output of an organization.
THE PURCHASE LEDGER
The purchase ledger is a software used in accounting departments of firms to record and monitor creditors. The ledger contains information about customers who made purchases on credit. It states a periodic balance of account, showing amount owed by a customer.
This software helps to prevent organizations from being liquidated. Paper work is slower and insecure. The account details will remain inaccessible if the documented records are displaced or destroyed. This will be leverage for the owing customer to deny any debts. A re-occurrence of this can subject an organization to depreciating output. This will eventually lead to the fall of such a business.
This is a software used to evaluate how much stock is used. This system is useful for monitoring raw materials in reserve. It verifies how much more materials will be needed for production. The software helps to identify finished products waiting to be supplied or yet to be ordered for.
This system allows integration with accounting and invoicing systems. Sales order processing and purchase order processing are wired together to ensure that stock balances and statistics are automatically updated as orders are processed. The system triggers orders when the re-order level is signified. It helps to identify the cheapest and fastest supplier of a product.
It works with bar coding systems which speed up processing and recording operations. This is done when the software prints and read bar codes from an integrated database on the computer. The software incorporates a radio frequency identification option which enables individual products to be tracked throughout the supply chain.
The payroll software is accounting software that analyzes and display financial records, employee salaries, wages, bonuses and deductions. It ensures that due benefits are paid to different workers of an organization without mistakes. This software helps to speedup payments and ensures accuracy in disbursing of wages.
The nominal ledger is a record holding an account of current assets, fixed assets, liabilities, revenue & expenses, items, gains and losses in an organization. The general ledger is divided into the debit and credit sections. The left side holds the debit transactions and the right side holds the credit transactions.
The general ledger consists of the balance sheet and the income statement.
The account equation is the mathematical structure of the balance sheet. Auditing accounts takes hours or days to complete due to paper works. Softwares have been designed today to checkmate these flaws. Application accounting software has been developed to secure transaction records and balance accounts faster and accurately. This is operated by incorporating relational database management systems like structural query language and enterprise Java beans.
Some current software that address this issues are Axapta by Microsoft, epicor, oracle financials, people soft, one world and Lawson enterprises 400 software.
A budget is a financial plan that help people and organizations make the best use of their money. It identifies sources of income and assists in planning expenditures. Budgets help organization to set a goal and achieve it within specific time frame.
A budget software helps small and large organizations to control costs effectively. It shows the profits expected from various activities in an organization. It helps them decide which projects are most important.
Budgeting involves estimation of income, estimate of expenditures and keeping financial records.
Budgeting software have been developed to help individuals, organizations and governments manage their resources effectively. It ensures that lists of anticipated projects are monitored closely and funds are disbursed accordingly.