Singapore is now being developed as a truly “Smart-Nation.” This means that technology will be playing a giant part in any business in the city-state. If you’re planning to start up a business, you‘ll need to carefully plan out which technology to use to be able to ease your way into Singapore’s technology-driven business world. Just last year in May 2017, Singapore has pre-approved fifty digital solutions for SMEs (small and medium enterprise), providing reliable and proven tech and services that you can incorporate in your business. There are so many technologies you can use to make life easier for you and to make your business a success. Here are the ones you must have.
CRM (Customer Relationship Management) Software – CRM is used not just in Singapore but any other thriving businesses around the world. It’s absolutely necessary if you have many customers and you want to understand your customers’ needs as individuals better. This’ll help you create a long lasting relationship, and you’ll have loyal customers. With a CRM software and a strategy that helps you correctly understand each customer on an individual level, you can:
- Create personalized marketing emails or texts for each of your customers who visit your website to increase your response rate, engagement, and add value to your brand.
- Take advantage of the information gathered during the sales and marketing process to use for new customers to increase their engagement and willingness to stay as a loyal customer. At the same time, find more people that are going to spend money on your products.
- Increase your revenue by converting your leads into sales by using the information gathered about your customers’ preferences and pain points. This should give you the chance to direct them to your products as a solution to their problem.
- Use the data you’ve collected with your current customers to plan your business’ next step for the improvement of your products.
- Improve customer experience by giving your customers a fast and reliable response to their queries and needs.
CRM will help you make loyal customers. With a proper CRM system development service in place, you’ll have no problem solving their issues and responding to inquiries. You’ll be able to have more high-quality customers who are devoted to using your brand than any others.
Modern Accounting Software – Any business has an accounting program in place. However, check if you’re still using an outdated accounting system that usually involves a lot of paper works and books, you’re definitely not going to survive this fast-paced business environment. Singapore is absolutely not the place for stone-age systems. These days, there’s automated accounting system software that you can incorporate with your day-to-day operations. Examples of this software are QuickBooks, Xero, FreshBooks, CashManager, Wave, and Zoho Books. So why do you need a modern accounting software? Here are the reasons:
- Time-saving – because it’s fully automated, you’ll not need an accounting degree to be able to use the software. All you need to do is to enter data, and the system will automatically do all the calculating. All the requirements for an accounting report will be included in the system to comply with the legal standards.
- Cost efficient – having such a system will eradicate the need for accounting professionals that’ll cost a fortune to employ. With the automatic calculations, you can manage your revenue and finances with so much ease and efficiency with little to no training needed.
- Secured data – without having so many people involved with your most crucial data, you’ll find it more secured to be tracking your business’ financial information using the software. This software also has a security feature in place to keep all your information safe.
- Tax compliance made easy – the accounting software is dedicated to keeping everything simple and understandable in full automation. They have all the reports needed in adherence to tax regulations to be able to make filing taxes easy for you.
- Accurate forecasting – One of the advantages of modern accounting software is understanding the pattern of your financial performance which is something that’ll require a great amount of time if you analyze on your own. The software helps you forecast which aspects of your expenses to cut on or which ones to invest on more. This’ll help you create a more helpful strategy in making your finances work for you.
Credit Card Payment Processing Software – People are quickly turning to credit card payments instead of bringing cash. This is why your business needs to be at par with the trend. If customers go to your store and you only accept cash payments, there’s a chance that they’ll just drop everything and look for another store that can let them swipe their cards. A credit card payment system is very convenient that payments can also be made using smartphones. This flexibility is what people are looking for plus, there are other advantages of using a credit card which are:
- Rewards – Customers are getting rewards or points when using their credit cards for their purchases.
- Security – A credit card payment system is matched with security and data protection which makes customers comfortable swiping their cards or entering credit card information when shopping online.
- Convenience – Credit cards can be used anywhere, even abroad. It can be used in-store or online for almost anything from clothing, food, airline ticket or booking hotels. Some hotels don’t honor reservations without a credit card on hold.
- Cashless shopping – Bringing a credit card is safer than carrying a lot of cash. Almost all major stores and shopping centers accept credit card payments, so there’s no need to bring some money.
With these technological advancements, you can start your online business in an affiliate network Singapore. There are so many more technologies you can use as your business grows and develops. These are just the basic ones that you can’t do without. As a business owner, never settle for anything you have right now. Always be open to changes and improvements. Sure, a trusted system would work for you, but there are technology-based standards that you need to be in sync with so you won’t get left behind. Singapore is a place where you need to embrace your techy side to be able to keep up with the modern market that you’ll want to target.