Entrepreneurs are increasingly turning to startups to fulfill their business aspirations and possibly create the next big thing. However, starting startup and running it successfully is not a walk in the park. The whole process entails conceptualizing an idea, searching for capital and working out strategies to attract and retain customers. According to the Entrepreneur magazine, startup owners also need to pay attention to pertinent business management issues like cash flow management, limiting initial expenses and tracking and monitoring business spending.
Customers are critical for the success of any business, including a startup venture. You start the journey by identifying the appropriate customer acquisition channel, and follow through by lowering the customer acquisition cost. Several business apps have been developed to help startup entrepreneurs realize business goals, attract customers and save time and money. According to NerdWallet, business apps are broadly classified under the following 5 categories: communication, finance and accounting, time management, organization and payment apps.
The business apps are designed to perform crucial financial task like managing payroll and taxes. The communication apps are also important as they can be used to relay everyday business communication and improve productivity. Time management apps often come in handy when you want to organize work schedule. The apps will help you stay focused on what you intend to do. The payment apps are widely used by businesses to send and receive payments. Regular bills such as utilities, phone and rent can also be made using the payment apps.
If you do not have an adapted in-house app, there are plenty of business apps that can be downloaded from the Apple App Store and Google Play Store. According to the Business2Communication business portal, here are 8 fantastic apps for managing startup finances:
1. Invoice by Wave
Invoice by Wave is increasingly becoming a preferred app for finance and accounting. It features bank account integration, expense monitoring, and scanning receipts. The other inbuilt functions include invoicing and integration with payment options such as PayPal. Although the app is freely available, the premium version comes with an exceptional customer service support.
This trusted finance and accounting app is available on both Apple Store and Google Play Store. The accounting app is loaded with attractive features that allow users to track expenses, view balance sheet, send estimates and receive payments, and perform other important functions. The base version of the app is embedded with features that make it possible to print checks and link bank accounts. The advanced app versions will cost you more money a month, but you get features such as inventory tracking and payment scheduling.
Slack is a work based communication app that is easy to use. The highly collaborative app makes it easy to set up teams and speed internal communication. For instance, you can use the platform to create a departmental chat group to communicate various issues to the targeted workers. For more interactive engagement, a video call feature is also embedded in the app. The Lite plan is available free while the premium plan is offered for a small monthly fee.
Basecamp is a trendy app for project management and communication. Under the communication ambit, the app can be used to create tasks and set work deadlines. For instance, you can track the progress of a project following a given timeline, share files and submit team updates. The app is expensive compared to other communication apps.
Business owners having challenges with time management can use this app to set priorities and enhance workplace productivity. The app has features that can track the time spent on various websites. To promote productivity among workers, business owners can track offline activities, submit time spent notifications and block potentially harmful sites. The app is available free and can be downloaded from the Apps store. A premium plan is available at a low fee.
Transferwise is a payment management solution that allows small businesses to execute low-cost, cross border payments. One of the most effective tools is the Borderless Account, which can be used to receive and transfer currencies like the US dollar and Euro to over 50 international denominations. Businesses can easily use the app to expand overseas operations.
The app is highly recommended for startups and entrepreneurs looking to leverage the mailing aspects of marketing. To live by this creed, MailChimp features an intuitive interface, where users can create and send business emails and newsletters. The other capabilities include tracking performance metrics, studying reports, analyzing customer behavior and receiving sales alerts. The information can be used to evaluate the success of an ongoing marketing campaign. The plans offered include the Essential Plan and Standard Plan.
Hootsuite is the other popular marketing and branding app. It is widely used to schedule and publish posts across various social media platforms. The app comes with an array of features, including access to cloud stored information and content approval and tracking. Hootsuite will also connect you with popular analytics solutions such as Google Analytics. The service is organized in different plans and can be ordered based on the organization size and business needs.
Getting around the debt problem!
Business apps can help startups achieve different goals, including marketing and cost savings. Businesses must also formulate forward thinking strategies to control debt in order to prosper. Polk Partners understands the importance of savings and debt clearance. One of the solutions forwarded by the company is getting rid of high interest, credit card debt using debt consolidation.
The strategy is designed to simplify the payments by setting low monthly payments and interest rates. If you want to know how much you are able to save, an online calculator is provided on the website. Using this solution, Polk Partners is well placed to help your business achieve both short and long term financial goals. To get in touch with the company by phone, simply call 1-800-224-7292