4 key management tools for SMEs

If you want to expand your SME and have greater internal control of it, it is important that you rely on management tools that help you make better decisions and boost your growth.

Nowadays, replacing evaluations, procedures and manual tasks with automated systems and data collection is a necessity for businessmen and entrepreneurs who dream of growing their businesses in an organized way.

By doing so, company operations become more effective and, especially, the management team and business owners have the necessary information to optimize their decision making.

Therefore, here are 4 management tools that are key for SMEs to grow and achieve success.

1. Human resources management system

Have you ever wondered how to improve labor productivity in an SME? If so, this kind of software will be of great help to you.

A human resources management system integrates different processes that affect workers and organizations as a whole.

This means that it allows you to optimize and centralize key processes related to your employees, such as:
  • Personnel selection
  • Training programs
  • Performance analysis and compensation
  • Contract management and labor clauses
These systems boost the labor productivity of your business by facilitating the tracking of workers' performance and the tasks they perform.

This way, as an employer, you will have access to real-time information related to the performance of your employees and, consequently, you will be able to make decisions.

2. Social Network Manager

Even if you are a traditional entrepreneur who started your business journey before the rise of social networks, it is important that you understand the usefulness of social networks.

Through these platforms you can connect with a large community of users and even market your products and services directly.

According to an article in Expansión, social networks are a powerful sales force that increases by 50% the conversion rate of institutions, i.e. the percentage of users who make purchases, bookings, registrations or downloads.

Thanks to social media managers, you can have a strong presence on these platforms and, consequently, become a more attractive brand to Internet users.

This tool helps you schedule, organize and plan the publications you plan, so your company will always be active in the 2.0 world.

It also generates automatic responses to users and facilitates access to information on interaction, clicks and traffic.

3. CRM Software

Customer Relationship Management or CRM systems are management tools that help you give the right follow-up to your buyers.

In addition to tracking interaction with customers, both current and future, this system collects information about users that will allow you to develop links and direct contact with them, such as phone numbers, social networks and emails.

This kind of data, stored in a centralized database, is especially useful for the sales team, the support and customer service department, and marketers.

This feature makes CRM software, like social media managers, human resources software and especially ERP software, ideal management tools for SMEs. Which brings us to the next tool.

4. ERP system

Enterprise resource planning systems, or ERP for short, contribute greatly to the growth and optimization of SMEs.

This is because they have a wide scope by centralizing all the relevant information of your company and, therefore, making multiple areas and operations more efficient.

Do you want to know 3 benefits that an ERP system should provide you with? Then read on!

I. Simplifies accounting

When talking about the advantages of an ERP in your business, this cannot be left out.

Thanks to this tool you will get instant financial reports and, consequently, compliance with the fiscal obligations of your institution will be much easier.

In addition, when you access the system, you will have updated reports at hand that will show you all the accounting and administrative information you need to make decisions.

Among other things, you will be able to see the total income, costs and expenses, as well as the details of each of these variables.

Another excellent feature is the possibility of issuing and stamping digital tax receipts from the same platform that keeps track of income and expenses.

II. Control inventories

Do you want your SME to grow? If so, you need to worry about saying goodbye to inventory losses and ant theft.

These types of problems threaten the financial stability of your organization and can also cause operational problems.

Fortunately, these setbacks can be left behind thanks to the implementation of an ERP system.

Another of the functionalities of this type of management tool is inventory control.

Thanks to its specialized module, you will be able to visualize, in real time, the stock of your products in all the branches where they are located.

Likewise, a good ERP allows you to follow each of your goods from the moment they enter the warehouse until they are delivered to the customer.

III. Optimize purchases

Purchasing also requires control and efficiency.

Because of this, a quality ERP will give you the ability to see where your money is going and why, since it captures your expenses instantly by downloading the invoice from the supplier and uploading it to your account.

In addition, it allows you to streamline the purchasing process, which will help you optimize time management in the company. It achieves this through a complete product and service catalog, which is compatible with barcodes.

Now you know how beneficial an ERP system can be for your business.

However, for this tool to provide you with freedom and comfort, you should ideally opt for one that works with cloud technology.

By hosting the information on remote servers, it will allow you to access the system from different devices and locations.