Tools To Improve Your Efficiency

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Operational efficiency is crucial for burgeoning businesses. When resources are tight and thinly spread, you need to squeeze every last drop of value from every penny you spend. With that in mind, here are some of the best tools available for increasing the day-to-day efficiency of your startup business.

Project management tools

Asana is a project management tool that allows you to communicate and assign tasks across one functional platform. The real boon for your business is the ability to group everything in one place. You can create multiple projects at one time and attach the appropriate resources to each task, such as files, plans, instructions and conversations. Asana is compatible with mobile devices, so remote working is a possibility too.

ProofHub is a more advanced project management solution which gives startups the ability to add clients to specific projects. By enabling clients to contribute to projects as they progress you can further streamline the often resource sapping client contact process.

Some help with the numbers

We all need a little bit of help here and there. You might be a business development demon, but that doesn’t mean you’re any good with numbers. When resources are scarce, you can find yourself managing business areas you have little or no natural aptitude for. Thankfully, there’s help.

Financial reporting is one of the most time consuming tasks a startup business will face. Expensify lets you import credit card statements, upload receipts, track expenses and create categorised reports for business expenditure. There’s also a mobile app which allows you to scan receipts directly into the software. When every penny counts, keeping track of your business expenditure has never been so easy.

Outright.com is a similar system which tracks all your business finances, rather than just your expenses. This software will import bank records, credit card transactions and generate profit and loss reports. It will even estimate your tax bill at the end of the fiscal year.

Head for the cloud

Cloud computing offers increased internet speeds, reduced costs, and a host of other operational benefits for startup businesses, including:

  • Remote computing for productivity on the go – Go desk-less with cloud computing. Work wherever you are, on any device, and become a truly agile startup.
  • Reduced capital and operational costs – Cloud computing removes the requirement to invest heavily in IT infrastructure. The cloud will run your IT systems without the additional costs associated with maintenance and upgrades.
  • Increased continuity of service – Access the cloud from anywhere, at anytime. Rather than investing in a resilient system of your own, simply pay a one-off subscription fee and concentrate your resources on growing your business.
  • Enhanced collaboration – Efficient use of cloud tools improves collaboration between employees. Video conferencing, file sharing and web apps allow you to collaborate seamlessly across locations.

Can you afford not to be on the cloud? Here’s a closer look at the benefits of cloud computing for startup businesses.

Is your business investable?

Venture capitalists love to invest in startups that are agile, scalable and built for rapid growth. Put the relevant infrastructure in place now, reap the rewards of increased operational efficiency and transform your startup business into an attractive investment proposition for the future.

What tools do you use to increase the operational efficiency of your business? Which day-to-day tasks do you find most time consuming? We’d love to hear your views, so please leave your two cents’ worth in the comments section below

Match Capital is a platform algorithmically connecting entrepreneurs with relevant investors.

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