Depending on the business product or service provided, managing a small business is no small task. If the entrepreneur does not have help from a business manager, the sole responsibility for running the daily operations of a business lies with the business owner. Some of the tasks include human resource (HR) management, accounting, and even information systems functions. Although performing a variety of tasks within these areas seems daunting, managers have some amazing technology based tools available to them that help simplify management tasks.
A growing company eventually requires help managing HR activities; this help often comes in the form of an HR specialist and special information systems tools that help to streamline processes related to hiring and benefits. The applicant tracking system (ATS) is a well-known type of HR management tool that allows HR professionals to quickly share candidate application information with hiring managers. The tool provides a way for hiring managers and HR professionals to analyze, collaborate, and comment within a centralized digital workspace. Also, successful candidates’ application data is easily exported into other HR tools without having to manually enter data twice.
While human resources are arguably a company’s greatest assets, its funding sources make the company a viable organization. Managers who have a thorough understanding of their company’s debited and credited funds are better able to gauge the financial health of the organization. Accounting software tools like QuickBooks and Wave allow managers to make quick assessments and recommendations regarding a company’s investment strategy. While QuickBooks is a leader for accounting software systems for small to mid-sized businesses, it has gone through several iterations and price points. Wave’s accounting software tools are completely free and target small businesses with less than 10 employees.
File Backup and Storage Systems
The data that a company produces has become increasingly important for daily operations as well as future marketing efforts. Business managers need information systems tools that provide a comprehensive, reliable, and affordable way of backing up and storing a company’s data. There are many options available to small businesses when it comes to data management. There are third party data management companies that offer physical, off-site spaces for use by small businesses. Additionally, there are services that offer backup and storage solutions on virtual storage networks or using cloud storage. These virtual storage units operate using strategically placed global data centers. While small businesses do not have much control over which data center is used to process their data, they gain performance and response efficiencies by using the data centers along with other businesses. Small businesses that are responsible for processing sensitive data must make special arrangements to either create a backup and storage system in-house or utilize a third party service provider that agrees to abide by certain terms and conditions regarding the data’s security.