A large part of how nicely a business operates depends on how smoothly its back end is going. Meanwhile, in a world where every day passes with the birth of vividly amazing start-ups, and smart new-gen entrepreneurs wanting it all, quick productivity tools are taking over.
With a decade-long experience of decluttering the back office operations of all sizes of companies, Unire has come up with a list of top five back office software that is sure to help emerging startups and small businesses with their hustle to detangle the tangled.
PS: We are assuming that you are already using the basic Google Sheets or Excel and will not be talking about the same.
1. QuickBooks Online: Streamlining Financial Management
Back office operations heavily rely on efficient financial management. QuickBooks Online is an industry-leading software that simplifies bookkeeping, invoicing, and financial reporting. It offers real-time financial visibility, automates data entry, and allows for seamless collaboration with your accounting team. With its intuitive interface and robust features, QBO helps businesses maintain accurate financial records, make informed decisions, and optimize their cash flow.
QBO has gained a reputation for its user-friendly interface, catering to both entrepreneurs and individuals without an accounting background. It provides effortless access to concise overviews of your financial status, ensuring that even if you lack expertise in accounting, you can still grasp the bigger picture effortlessly.
QuickBooks Online offers a selection of four distinct plans: Simple Start, Essentials, Plus, and Advanced.
According to a survey by Forbes, businesses using QuickBooks Online experienced an average of 15% reduction in financial management costs.
Key Benefits:
- Automates repetitive financial tasks, saving time and reducing errors.
- Generates insightful financial reports for better decision-making.
- Enables seamless integration with other business software.
2. Bill.com: Simplifying Accounts Payable and Receivable
You may or may not have a lot of revenue but you definitely have bills.
Managing accounts payable and receivable efficiently is crucial for maintaining healthy cash flow and strong vendor relationships. Businesses using automated accounts payable solutions, experienced a 50% reduction in invoice processing costs.
Bill.com is a cloud-based software that automates the entire accounts payable and receivable process. It streamlines invoice approval, facilitates electronic payments, and provides a centralized platform for collaboration with vendors. By digitizing and automating these processes, Bill.com eliminates manual errors and reduces the time spent on administrative tasks.
Bill.com can be easily integrated with QBO and while QBO can also create checks for you, Bill.com is a dedicated aggregator that won’t only mail them for you but also record ALL your bills in one place.
Key Benefits:
- Accelerates invoice processing and payment cycles, improving cash flow.
- Enhances transparency and reduces the risk of payment errors or fraud.
- Provides a secure and streamlined platform for vendor collaboration.
3. Expensify: Effortless Expense Management
Tracking and managing expenses can be a time-consuming and error-prone task for businesses, and let’s be honest, time is money, people spend money to save time!
Expensify simplifies the entire expense management process, from receipt capture to reimbursement. Through its mobile app, users can easily scan receipts, categorize expenses, and submit reimbursement requests. Expensify’s integration with accounting software ensures accurate expense reporting, eliminates manual data entry, and enhances compliance with company policies.
When we say it eliminates manual data entry, we literally mean it, as the user is required to simply upload the picture of the receipt and the system automatically captures the details. Now that’s simplicity.
Key Benefits:
- Streamlines expense reporting and reimbursement workflows, saving time.
- Reduces errors and increases compliance with expense policies.
- Provides real-time visibility into business expenses for better financial control.
4. Gusto.com: Simplifying Payroll and HR
If you have a business, you do have people working in that business and effective management of their payrolls is something you can’t risk because you won’t want to work with grumpy employees and obviously there are a dozen more reasons.
Gusto.com simplifies these processes by offering a comprehensive platform that handles payroll, benefits, tax filings, and employee onboarding. It automates payroll calculations, facilitates tax compliance, and provides self-service options for employees to view pay stubs and make changes to their information. Gusto.com helps businesses streamline their HR operations and ensure accurate and timely payroll processing.
At this point, you may also be wondering why can’t QBO manage this for you. The answer to this is subjective as Gusto does have some really helpful features like document signing, online offer letters, time off requests, organization charts, team directories, and much more.
Key Benefits:
- Automates payroll calculations and tax filings, reducing errors and saving time.
- Streamlines employee onboarding and benefits management.
- Provides a user-friendly interface for employees to access their payroll information.
5. Salesforce.com: Optimizing Customer Relationship Management (CRM)
While primarily known as a customer relationship management (CRM) tool, Salesforce.com also offers robust back office functionalities. It provides a centralized platform for managing customer interactions, sales, and customer support.
With Salesforce.com, businesses can automate lead management, track customer interactions, and gain valuable insights into their sales pipeline. Integrating Salesforce.com with other back office systems allows for seamless data flow and collaboration across departments.
Key Benefits:
- Streamlines lead management and sales processes, improving conversion rates.
- Provides a holistic view of customer interactions and enables personalized marketing.
- Integrates with other back office software for end-to-end process optimization.
Conclusion
Efficient back office operations are the backbone of any company. By leveraging the right back office software, businesses can streamline their financial management, accounts payable and receivable, expense tracking, payroll, HR tasks, and customer relationship management. The five software solutions discussed in this article, including QuickBooks Online, Bill.com, Expensify, Gusto.com, and Salesforce.com, offer comprehensive features to enhance productivity, reduce manual errors, and drive growth.
If all this feels overwhelming to you, Unire, being one of the best back office management companies in India can be your trusted back office operations cleaning partner to achieve just the right pace of working in your business.