3 Simple, Smart Tools to Streamline Your Business

November 18, 2015

3:30 pm

Managing your business as an entrepreneur can be overwhelming. As the owner, you have a hand in every aspect of your business, from production and operations to sales. The challenge becomes even bigger as you grow your business. If you don’t find ways to streamline your business, your expenses may increase dramatically. Consider these tools to streamline your business and grow profitability.

Handling Payroll

As you hire more employees, processing payroll can be huge bottleneck in your business process. The tax rules for withholding payroll are complex and they change constantly. In addition to taxes, you may need to withhold and pay amounts for retirement plan funding or even wage garnishments.

An entrepreneur can spend hours trying to address all of the variables in payroll. Automation has made the payroll process much easier. If you choose to process payroll yourself, you can find software to handle many of the calculations.

Some business owners make the decision to shift the responsibility for payroll to an outside expert. Companies like ADP can take use your employee data to calculate all withholdings and even submit each worker’s net pay to their checking account.

Companies like Wagepoint make the payroll process even easier. Many of the payroll tasks can be completed on a mobile device. You can input an employee’s gross wages and Wagepoint can calculate the withholdings through your mobile device. This app frees you from having to be in the office each time you pay payroll.

Competition for Great Employees

Hiring good employees is a key factor for any entrepreneur. The process can be time intensive, however. You need to interview and assess employees, send them employment agreements and get a signature on the document. You need to process documents quickly, so you can get a valuable new employee in place.

If you use outside recruiting firms to find employees, you can provide an e-signature for staffing companies. Using this tool, you can get the employee agreement to the staffing company, who can then send it to the new employee electronically. After the individual signs, everyone involved can get the signed document instantly.

This fast turnaround helps you get a new employee on board quickly.

Making Your Event Successful

Meeting clients and prospects face to face is still a vital part of sales and marketing. Many firms put on events to bring customers and prospects together in person. These people come to network, to hear speakers and to learn about new innovations in their particular industry.

You can provide event app software to each attendee. The app can provide the schedule for all of the events, and update any changes instantly. These apps can scan a name tag and send all of an attendee’s contact information to a mobile device. Rather than exchange business cards, attendees can use the app.

You can survey your attendees while the event is in progress. The app can list bios for all of your speakers, and links to each speaker’s website and publications. Using a mobile app can make a live event much more meaningful. You’ll increase the chances that the customer will return next year. You also improve your chances of converting a prospect into a client.

Try each of these tech tools in your business. Each application can help you operate more efficiently, and they’re great tools to grow your business while you keep your costs down.

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Ryan Kh is an experienced blogger, digital content & social marketer. Founder of Catalyst For Business and contributor to search giants like Yahoo Finance, MSN. He is passionate on covering topics like big data, business intelligence, startups & entrepreneurship. Follow his latest posts on Clear World Finance and Forumsmix.com

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