In a 2017 survey we conducted, small businesses said that using the right technology was one of their top business challenges.1
But, when it comes to managing expenses and tracking employee time, using manual methods creates an even bigger set of challenges. Without the right tool, small businesses will constantly have to deal with errors in their calculations.
If you’re a small business owner or an IT professional looking for an expense and time tracking system, you need to shortlist those that offer the right features to address your unique business needs.
To get the maximum ROI on a software purchase, a small business has to successfully implement the adoption of the new software. This challenge is even harder when it comes to customer experience software, since providing an excellent customer experience is a fundamental part of remaining competitive.
Small businesses need to have a concrete plan for customer service software implementation. If they fail to do so, they’ll experience lower ROI caused by underutilized software and customer churn.
A lack of adequate data and analysis creates several unique challenges for your sales teams:
- Inability to reach the right leads at the right time: More than 20 percent of sales leaders say prospecting is a top challenge for their teams.
- Lack of targeted communication with leads: Just 23 percent of sales emails are opened, as they’re either irrelevant or would be more successful on another channel.
- No collaborative analytics: Only 8 percent of businesses say their marketing, sales, and finance data is centralized and accessible to other teams. As a result, they’re unable to leverage cross-departmental insights to grow the business.
To meet these sales challenges head on, you need to eliminate data silos at your small business and empower your sales team with BI tools.
Seventy-five percent of business and IT executives anticipate that their software projects will fail. Mismanagement of time, resources, and project scope negatively impact projects, setting them up for certain failure.
Especially in IT projects, project managers face unique challenges such as:
Communication gap between IT and management: If your management and IT aren’t in sync, you’re experiencing delays in product delivery to clients.
Dependency conflict: Installing new software slows down organizational productivity, which occurs because of dependency conflicts with the IT team.
- Agility and midproject adjustments: IT isn’t always agile enough to find, adopt, and execute solutions to problems such as bug tracking, software installations, and training.
The success of your small business depends on how well your sales team can sell your products or services despite variables such as pricing, features, and market disruptions. If your team’s consistently failing to hit their targets, it could be because of one of these reasons:
- Lack of preparedness: Forty percent of sales reps don’t feel prepared for their calls, while 82 percent of B2B decision-makers think sales reps are unprepared.
- Failure to communicate well with potential buyers: Eighty-five percent of potential customers are dissatisfied with their experience over the phone.
- Inability to target the right prospect: Sales reps can spend up to 40 percent of their time looking for somebody to call.
Small businesses can tackle these challenges head on by strategically using sales management software to increase preparedness and improve sales training and targeted prospecting.