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Key Technology Tools for Business Part 2

Business & Corporate Productivity Masterclass
Business & Corporate Productivity Masterclass
Key technology tools for Business

Key Technology Tools for Business part 2

6.Project Management Tools

Every business that uses a remote workforce or one that requires collaboration across various teams will need help keeping track of its countless projects and goals. Email is not optimal for this, as Email is too isolated, even it is easy for any member to be accidentally left off an update if they aren’t included in the latest message or project update sheet.Project management platforms are very efficient. Any smart Cloud-based project management tools give a full and translucent look at where each important project is in its lifecycle and allows team members to trace the progress from inception to completion.

Project Management Tools Example

  1. Asana.
  2. Basecamp.
  3. PROOFHUB.
  4. Podio.
  5. Scoro.

7.Expenses Management Tools

Businesses utilise expense management tools to process, pay, and audit employee-initiated expenses. The software includes the capabilities for team members or employees to input expenses for approval through a browser or mobile application.

Expense management tools or software simplifies and automates a business’s expense entry, review of streamlines, eliminates paper-oriented calculation and reduces administrative effort. As well as identifies cost-saving opportunities, and controls of excessive spending.Expense management tools are usually integrated with time tracking software, travel management software, payroll software or accounting software, and workforce management software.

The Fundamental Facility of Expense Management tools are,

  • Allow data entry system.
  • Integrability with existing accounting and administrative systems.
  • Have an automated system which is capable of tracking, controlling, and reporting expenses.

Expense Management Tools Example

  • Abacus
  • By Emburse
  • Expensify
  • Harvest
  • Xero

8.E-Payment Solution Tools

As we know, an e-payment system refers to the way of managing transactions or paying for goods and services through an electronic medium,without the use of liquid money or bank checks. Which is also called an online payment system or an electronic payment system.Nowadays small or medium businesses have entered into the era of e-payment.The e-payment system has grown progressively over the last decades due tothe growing spread of internet-based banking and business.As the world advances more with technological progress and development sothe rise of e-payment systems and payment processing machines representing an upward trend.

E-Payment Solution Tools Example

  • Authorize.Net
  • Amazon Payments
  • Dwolla
  • Google Checkout
  • PayPal

9.Employee Collaboration Tools

Employee Collaboration tools or software enables the sharing of data and information by providing an online or intranet-based environment for virtual teamwork.Conversations between employees can be a strenuous job to keep track of, especially as any business grows.Employees or team members can’t collaborate if they can not communicate with each other. From instant messaging to video conferencing tools (suitable alternative to face-to-face meetings), there are many options for the employee or team collaboration tools.

Employee Collaboration Tools Example

  • Dapulse.
  • Flowdock.
  • GoToMeeting.
  • Slack.
  • WebEx.

These tools or software will support business employees who need to correspond with a remote team or want to have a productive meeting with clients, prospective team members or consultants.

10.Cloud Computing Tools

Cloud Computing refers to the use of software & hardware to deliver a service over an internet network for example Google’s Gmail. Gmail users can have access to their files and applications from any device which are stored by Google via the internet.

Expense Management Tools Example

  • Cloudyn
  • Dell Boomi
  • Enstratios
  • Informatica
  • Mulesoft
  • Opscode

Why Entrepreneurs should use Cloud Computing Tools?

  1. Cloud computing tools reduce the acquisition and maintenance costs.
  2. Standardize and simplify the projects, and reduce the pen & paper jobs.
  3. Decrease the tools management costs and procurement complexity.
  4. Can provide centralized deployment of the new versions of tools to an entire user base.
  5. A well-designed cloud computing tool can support automatic downloads ofnew versions of software from the official site when those are available.
  6. Ease the employee’s switching capacity between old and new versions of software without concern over conflicts due to setup, installation, or licensing issues.

Fundamental Characteristics of Cloud Computing Tools:

  • Broad network access.
  • Measured service based on need.
  • Dynamic resource pooling facility.
  • On-demand self-service & unlimited resources.
  • Rapid elasticity and automatic provisioning for scalability.
  • Virtualization of resource and multidimensional resource reallocation facility.

Quiz

Q1. Check the statement is true or false “The business that uses technology smartly and appropriately is not manipulated or controlled by technology”

  1. True.
  2. False.

Q2. Beside VPN business should use

  1. Network security monitoring tools.
  2. Encryption tools.
  3. Web vulnerability scanning tools.
  4. Above all.

Q3. Check the statement is true or false “CRM tools help a business to stay organized externally and top-of-mind withcustomers.”

  1.  True.
  2.  False.

Q4. Express what should be the right opinion on this statement “Human Resource tools leverage the strength of automation”

  1. Yes.
  2. No.

Q5. Which one is the fundamental key point to choose Human Resource tools?

  1. Ease of useability
  2. Multi-channel entrance
  3. Quick implementation facility
  4. Above all

Q6. Check the statement is true or false “Project management tool brings harmony to manage the projects efficiently”

  1. True.
  2. False.
  3.  

Q7. Which one is not an E-Payment Solution Tool?

  1. Authorize.Net
  2. Amazon Payments
  3. Dwolla
  4. ZangoPay

Q8. Does Employee Collaboration tools or software enable the sharing of data and information among the employees through the virtual network?

  1.  Yes
  2.  No

Q9. Which one is the fundamental Characteristic of cloud computing Tools?

  1. Broad network access
  2. Measured service based on need
  3. Dynamic resource pooling facility
  4. Above all

Q10. Check the statement is true or false “Cloud computing tools Standardize and simplify the projects, and reduce the pen & paper jobs”

  1.  True
  2.  False

Summary

  1.  Taking help from technological advancement increase the business revenue
  2.  Cybersecurity ensuing is one of the fundamentals of business priority
  3.  Proper CMR & HR tools can boost up company revenue in a satisfactory way
  4.  Expense management & E-payment management tools can surprisingly decrease the workload of the account section of a business
  5.  Proper project management and cloud computing tools have a great impact on production as well as the revenue of a business.
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