For instance, you don’t manage client communications in the same way you do personnel issues. While you might need other tools based on your business’s specific needs, overall, every business needs certain core tools.
To better manage your business building blocks, ensure you have solutions in place to help you handle the following six areas.
Did you know that one of the main ways businesses compete is through customer service? In fact, one study found that 89% of businesses use customer service as a competitive edge.
It’s vital for every business to have tools in place to improve client communications. This includes gathering all client data in a single location for faster and more efficient service. The more you do to make your customers happy, the more likely they are to stick with your business. Simply having better client communications management tools to create better customer experiences can lead to as much as an 8% growth in your target market.
Studies have shown that collaboration can boost productivity, project engagement and overall performance. However, many businesses don’t have the proper tools to help with collaboration. As one of the core business building blocks, have solutions in place to make collaboration and teamwork easier. From managing project notes and messages to keeping track of project progress, you’ll find projects get finished faster with the right tools.
Every single business has assets to manage. These include both digital and physical assets. For instance, do you know right now how gloves your warehouse has on hand or when to order more to prevent running out? What about where your digital files are stored and who has access?
All of your assets must be managed. However, doing this with multiple tools can get overwhelming quickly. Instead. Having a single tool to manage all your assets makes it much easier to keep track of everything. Thanks to custom fields and filters, you can instantly see what you have, where it’s at and what action you should take next.
You could take the traditional route and keep all employee files in a filing cabinet or in individual digital files on your HR manager’s computer. Or, you could invest in a tool that makes employee management far more efficient.
Your employees are one of your top business building blocks. Why make it difficult to manage them? Keep personal details, vacation time, overtime, missed days and pretty much anything else in a single location. Now if you need to see which employees are clocking out early and which ones always stay over, it’s simple to generate a report in seconds.
How much do you know about your own business? You could probably rattle off the basics, but do you know in-depth details about customer retention, flaws in your supply chain or employee efficiency?
If you’re scratching your head, you’re not alone. Business insights give you in-depth details into your entire business. You can use these insights to improve customer relations, employee efficiency, process workflows, hardware and so much more.
McKinsey & Company has a detailed breakdown of how business insights provide value to a business. It’s a good way to see just how much data businesses collect and how it can be used to improve your business.
While you don’t have to collect that much data, knowing more about your business is vital to creating a business that thrives and grows no matter what obstacles you face. The key is using a tool that helps you not only gather your data in a single place, but figure out what it all means.
Even if you think you’re doing everything perfectly, there are probably areas where your business could improve. Maybe you’re using outdated equipment that slows down production. Maybe it’s asking employees to use four different tools to complete a single task.
Whatever is slowing you down, you need a tool to help you improve your workflow. Find out where issues are and map out ways to fix them. After all, if your business isn’t improving, it’s not growing.
At KOI, we love the idea of making it easier than ever to manage your business. No matter how big or small, we believe every business should have access to the tools they need to succeed. This is why we created our all-in-one business management software to manage all aspects of your business in a single, affordable tool. Consider partnering with KOI today and find out for yourself why KOI is the best and last Business Management Software you’ll ever need.