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Using Technology in Small Business (Google Docs, CRM, Credit Card Processing)
Small businesses are a huge part of the economy. Therefore there is a need to for small businesses to grow and use fast and efficient techniques in their daily events. I am going to describe how Google docs, CRM and credit card processing helps small business greatly.
Google docs:
Google sheets, slides and Docs are a working spreadsheet, presentation and word processor program respectively. This can be bought free of cost from Google within its free Google drive service. This site permits users to edit and create any documents on its free Google drive interface which is quite good and you can also share these documents online to your friend if you want on real time basis.
These three applications are well available as chrome application, mobile app, and web applications on both IOS and android. These applications are well compatible with Microsoft office file formats. These are well integrated with Google drive which comes by default with Google Drive.
Documents are automatically saved to Google’s servers and it also provides an option to see the past edits. Google Docs are the detailed worthy approach in order for editing documents, sharing to anyone for either editing or just for view option even for multiple user. They are quite confidential when it comes to security.
Features:
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- You can do various official works through these Google docs and can create documents, spreadsheets and any kind of presentation through this webs interface which is quite helpful for the user. Users can also save these documents on your computer in form of text, PDF, Html and ODF format.
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- Users can do real-time editing for any documents in Google docs and can be shared edited and opened by several users at a time. There is a sidebar chat option available for the edit work if several users are doing an edit on that same document.
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application easily opens two ISO standard document formats which are like office open XML and Open Document. Users can also check the format of the document like it is in .xls or .doc format which is quite helpful.
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One of the best features of Google Docs is that by combining Google Docs with Google Hangouts, you can efficiently build a spreadsheet or create a presentation with a group of co-workers in different cities or provinces just as if you were all sitting around the same conference table.
- Ever gotten so wrapped up in typing out a long report that you forgot to save your work periodically, and then a power breakout wiped out all your progress? That’s never a worry with Google Docs – this platform is constantly updating your work in real time and saving it to the cloud. If you make an update to your work and then decide you prefer the way it looked before, you can scroll back through every edit you’ve done and restore a previous version of the document.
- With apps for both IOS and Android, Google Docs is available on the go. If you need a co-worker to edit a document but, you know they’re out of the office and travelling, you can send them a message and have them take care of it on their smartphone or tablet. Then, one can log in to their Google account and see the finished product in real time.
CRM:
CRM is a database focusing on customer based feature which provides customer input, requirements, direct online communication and especially helpful for customer service center companies. This helps to solve the problems of the customer.
CRM (customer relationship management) is software that is designed to help businesses manage many of the following business processes: Customer data, Customer interaction, Access business information and Automate sales. It is a customer-oriented feature which provides customer input, direct online communication and also helpful for customer service center companies to solve the problems of the customer. CRM is beneficial for sales companies as well. It helps to track the client’s account anytime from its database for any further sales and marketing and provides data warehouse technology which provides the transaction information.
Features:
- This app helps for the sales promotion analysis by tracking the client’s account anytime from its database for any further sales and marketing.
- It also provides data warehouse technology which provides the transaction information.
- CRM helps users for the marketing campaign and multiple tracking customers for services and several clicks.
4 big benefits CRM for your business:
1: Boosting Sales
The primary benefit of any CRM for small business is that it helps to streamline sales and boost the revenue. Research shows that CRM systems can increase revenue by a whopping 41%. It supports sales team by prioritizing leads–spending less time on unqualified people who are never going to pull the trigger and more time closing deals.
CRM actually helps you make smarter decisions necessary to grow sales for smaller businesses.
2: Understanding your customers
Small business CRM software is predominantly useful for companies selling complex products or companies that have longer sales cycles. The constant data collection allows you to continuously improve how you interact with each and every customer. Months of customer behavior data can be effortlessly recorded and analyzed, which lets the companies to understand the different decisions that guided customers throughout the entire sales cycle.
This information can be used to improve small business marketing, tweaking your email campaigns, website design, and sales approach until you find the optimal way to reach the target audience.
3: Improving Workflow
Small business CRM software removes the bottlenecks and makes it is very easy to create workflows that the teams can stick to on a daily basis. Whether it’s automating follow-up on a new lead or delivering a consistent new customer onboarding process, a CRM can improve the efficiency of the entire team, from sales to customer service.
4: Improving Customer Support
Customer support is the backbone of every small business as it impacts customer retention as well as the revenue. CRM software collects customer data in one place, making it easier to segment your customers based on their specific needs and interests.
By investing in a CRM it gives customer service the tools and data they need to wow and delight the customers
Credit card processing:
To handle various transactions from different channels such as debit card, credit card and merchant acquiring bank a third part company known as payment processor is always appointed by a trader. This payment processor normally works as two different parts like the front end and back end. SaaS process always handles the recurring payment from the merchant and always maintains secure and safe payment information and offers a payment token which is a payment proof.
Electronic payments are highly vulnerable to fraud and abuse and one way to lower this fraud and misuse is to use good safe payment processor software.
Benefits of Credit/Debit cards That Boost Your Business
1: Improved Cash Flow
With the majority of consumers citing debit and credit as their preferred method of payment, not only can accepting credit cards aid in expanding your customer base but also help merchants shorten funding times, resulting in increased cash flow, which is crucial for business growth.
2: Accurate Accounting
Cash payments don’t leave a paper trail which makes it harder to reconcile accounts. It makes it more difficult to keep accounting records organized and increases the likelihood of an IRS audit. This payment options ensures you have some kind of paper trail, improving your ability to reconcile accounts and minimizing the likelihood of an audit.
3: Increased Average Ticket Size
Customers typically spend about 18 percent more when paying with credit cards and research shows that by removing cash from the equation, you encourage people to spend more. In some cases, customers are even willing to spend up to 100% more when using credit cards to make a purchase.
4: Enhanced Customer Service
Accepting credit cards is very convenient for customers as it offers them more choice, flexibility, and also improves transaction speed which enhances Customer Service.
5: Expanded Customer Base
In recent years, the percentage of people who use credit cards as their sole method of payment has risen exponentially. If you’re a ‘cash-only’ business, you’re unknowingly limiting your potential customer base.
This is especially true amongst the millennial, which prefer using plastic for purchases even when the amount is less than five dollars.
6: Minimize Security Risks
A large sum of cash in hand is a security risk for small business owners. The less cash you have on your premises, the less attractive you’ll be to criminals and corrupt staffs. For small businesses, expanding your current payment options, accepting credit cards is an excellent way to increase sales, improve cash flow and minimizes some of the risks associated with running a small business.
Thus these all are the benefits about the newer technology such as Google docs, CRM and about the process of credit card processing in Small Businesses.
References:
https://www.hatchbuck.com/blog/small-business-crm/
https://www.shopkeep.com/blog/benefits-accepting-credit-cards#step-1
