Software For Online Business The internet is the fastest growing business today. If you wish to be successful online, it is important for you to start working on your business plan. This means you need to do your research and understand your market niche. At the end of the day it all boils down to making a profit through a variety of ways.
Software for online business is becoming more important for building an online business. There are so many businesses decide to go online to engage with their customers. So the software must be well utilized.
Project Management Software
Project management software is designed to help you collaborate with your team and stay on top of all your projects. Since you’re already working online, it’s great that most of the best PM software solutions are cloud-based. They also come with a dedicated desktop and smartphone app.
Project management tools also come with pre-built PM templates which you can use out of the box or customize them to fit the specific goals and objectives of your projects. After you add team members, you can automate task delegation and send notifications to inform them about new changes.
Tools to consider:
- Zoho Projects
- Trello
- Basecamp
- Teamwork Projects
- LiquidPlanner
The features to look for:
- Two-factor authentication
- User privilege rights
- Customizable dashboard
- Easy task delegation
- Notification system
- Collaboration
- Real-time reports
- Invoice generator
CRM Software
As buyers complete more of their research and evaluation online and avoid talking to a sales person until late in the process, customer relationship management (CRM) becomes more essential. It helps your sales team track prospect and customer touchpoints so they can maximize the value of those conversations when they do occur, and show that you care for the attention of your target audience.
CRM software is a complex solution which lets you look at the entire customer lifecycle, ranging from the first interaction and lead generation to conversions and follow ups. If your business is in the early growth stage, you may think you don’t need this, since your customer base is likely still quite small.
But you should also know that by gathering numerous data points on your customers, this software can help you learn who your perfect customers are. This will make it easier for your marketing team to design and launch highly targeted campaigns.
In the end, CRM is there not only to help your marketing and sales departments, but also to help guide business strategy and product development, and to help you deliver more effective customer support.
Tools to consider:
- Zoho CRM
- Salesforce Sales Cloud Lightning Professional
- Apptivo CRM
- Bpm’online CRM
- Base CRM
- Insightly CRM
The features to look for:
- Ease of use
- Multiple integrations
- Remote and mobile access
- Campaign management
- Lead management
- Contact management
- Powerful analytics
- Customization and flexibility
- Follow-up management
QuickBooks Online
QuickBooks Online is the best overall accounting software for small businesses of those reviewed. Not only do the majority of small business accounting professionals use QuickBooks Online, but there are also endless online training resources and forums to get support when needed. All accounting features can be conveniently accessed on one main dashboard, making bookkeeping more fluid and efficient.Pros
- Scalable
- Commonly used by accounting professionals
- Integration with third-party applications
- Cloud-based
- Mobile app
Cons
- Upgrade required for more users
- Occasional syncing problems with banks and credit cards
Intuit’s QuickBooks Online has been the most common accounting software used by small businesses and their bookkeeping and tax professionals. The software is cloud-based and can be accessed through a web browser or through the mobile app.
After the 30-day free trial, the four options for subscription plans include: Simple Start at $25 per month, Essentials at $40 per month, Plus at $70 per month, and Advanced at $150 per month. Typically there is a significant discount offered for the first few months, and some accountants are able to offer wholesale pricing to small businesses, as well.
The monthly subscription for this software can be upgraded as a business grows, and there are many customization options with the mobile app that can be used to receive payments, review reports, capture an image of a receipt, and track business mileage. For businesses looking for a payroll solution, QuickBooks Payroll fully integrates with QuickBooks Online.
Each plan offers more advanced features like inventory management, time tracking, additional users, and budgeting. Most service-based small businesses will find that Simple Start meets all of their needs. For product-based small businesses, Essentials or Plus will have more options for inventory and customizations. The Advanced subscription is a new offering and provides robust financial reporting that is powered by Fathom. Fathom is an elite online financial report analysis tool used by many large companies all over the world.
All plans allow integration with third-party apps such as Stripe or PayPal. QuickBooks Online’s app store breaks down all of their apps by function and provides helpful examples of the benefits of each app.
FreshBooks
The most crucial accounting need for most service-based businesses is invoicing. FreshBooks offers more customizations for invoicing compared to other accounting software. Its primary function is to send, receive, print, and pay invoices, but it can also take care of a business’ basic bookkeeping needs as well. This accounting software makes it easier for service-based businesses to send proposals and invoices, request deposits, collect client retainers, track time on projects, and receive payments.Pros
- Cloud-based
- User-friendly interface
- Third-party app integration
- Affordable
- Advanced invoicing features
Cons
- No inventory management
- No payroll service
- Mobile app has limitations
Founded in 2003 in Toronto, FreshBooks started as just an invoicing software. Over time, more features have been added and FreshBooks now has over 500 employees.2 There are four different plans, and businesses can get a 10% discount if they choose to pay yearly, rather than monthly. Additionally, FreshBooks offers a 60% off discount per month for six months. The four plans are: Lite at $6 per month, Plus at $10 per month, Premium at $20 per month, and Select, which is a custom service with custom pricing.
The main difference between the four plans is the number of different clients that are allowed to be billed per month. In the Lite plan, up to five clients can be billed per month. In the Plus plan, up to 50 clients can be billed per month. In the Premium plan, unlimited clients can be billed per month. The Select plan also does not have a limitation on the number of clients that can be billed per month, but adds unique features. It costs an additional $10 per month for multiple team members to use the accounting software and it costs an additional $20 per month for the advanced payment feature, which allows users to charge a credit card in real-time or set up a recurring credit card charge for a client.
There are many third-party app integrations available, such as Shopify, Gusto, Stripe, G Suite, and more. A unique feature of FreshBooks is that invoices can be highly stylized and customized for a professional look and feel. FreshBooks is a great tool for budgeting out projects, sending estimates or proposals, and collecting customer payments.
Wave
Wave is an ideal accounting software platform for a service-based small business that sends simple invoices and doesn’t need to track inventory or run payroll. For many freelancers or service-based businesses, Wave’s free features will cover all of their accounting needs and is the best free software in our review. At year-end, accountants can pull the necessary reports from Wave to prepare a business’ tax return.Pros
- Free accounting, invoicing, and receipt scanning
- No transaction or billing limits
- Run multiple businesses in one account
- Unlimited number of users
- Mobile app
Cons
- Limited third-party app integrations
- Higher fees for credit cards and ACH payments
- Full-service payroll is limited to only 14 states
- No inventory management
Wave was founded in 2010 and is based in Toronto. The company has over 250 employees and was purchased by H&R Block in 2019.34 The foundational accounting features that most small businesses need, such as income and expense tracking, financial reporting, invoicing, and scanning receipts, are all included with this free software. These features can be accessed online or on the mobile app. Customer payment processing and payroll are considered premium services that cost extra, but all of the bookkeeping, invoicing, and reporting features are completely free.
Wave makes its money on its payment gateway. To process payment from a customer, Wave charges 2.9% plus 30¢ per transaction for Visa, Mastercard, and Discover, and 3.4% plus 30¢ per transaction for American Express. These fees are slightly higher than other accounting software. Additionally, to process an ACH payment, rather than a credit card, Wave charges 1% per transaction with a $1 minimum fee. This is unique to Wave, as the majority of accounting software does not charge a fee for ACH payment processing.
Wave offers two payroll plans as an add-on service. The first plan is $20 per month plus $6 per employee or contractor. In this plan, Wave will process payroll and prepare payroll tax calculations, but the user is responsible for manually completing payroll tax forms and submitting tax payments. The second plan is $35 per month plus $6 per employee or contractor. In this plan, payroll is full-service, which means that all tax filings and payments are completely managed by Wave. This full-service payroll option is only available in 14 states.
Wix
Wix was founded in 2006 by three entrepreneurs frustrated with the difficulty and expense of creating a website. Today, the company has a staff of 5,000 employees worldwide and 200 million users in 190 countries. We chose it for the best website builder since it lets users create professional-looking websites with no coding knowledge for an affordable price.
Wix comes with hundreds of professional templates and a drag-and-drop editor, making it easy to create a professional business site in just minutes. Every website is designed to look great on mobile devices and features engaging effects including animation, video backgrounds, and scrolling.
Businesses that want to sell online can take advantage of Wix’s advanced e-commerce features. Users can set up an online store, manage inventory and orders, and get revenue and conversion rate reports using a simple, intuitive dashboard. Wix also lets store owners accept payments via Wix Payments, PayPal, and Stripe and integrates with Instagram and Facebook.
Although creating a basic website is free, upgrading to a paid plan is the only way to unlock Wix’s business and e-commerce features. All of Wix’s paid plans include a 14-day free trial, free hosting, Google Analytics, and the ability to link a custom domain.
Business Basic Plan
- $23 per month
- Accept online payments
- Unlimited bandwidth
- 20GB storage
- Connect your domain
- Remove Wix ads
- Five video hours
- Google Analytics
- Free domain for one year
- $300 ad vouchers
- Site Booster app
- Visitor Analytics app
Business Unlimited Plan
- $27 per month
- 35GB storage
- All Business Basic Plan features
- 10 video hours
- Professional logo
- Social media logo files
Business VIP Plan
- $49 per month
- Accept online payments
- Unlimited bandwidth
- 500GB storage
- All Business Unlimited Plan features
- Unlimited video hours
- Priority Response
- VIP Support
Conclusion
If you run a business online then you understand that most of your work is performed behind the screens. This makes it easy to overlook the numerous software that you need to be using to take care of your business. The fact of the matter is that if you don’t have the right software at your disposal then your entire business will suffer greatly. Even if your existing software is great, there may be better options available for different areas of your business.