Technology

Software Features Every Small Startup Should Consider

We’ve spent time highlighting which software features are critical to your business and which are merely “great to have.” Continue reading to discover more about what software features to look for (and what not to look for) when selecting a basic software stack.

  • We’ll look at: Accounting and financial software skills
  • Features of customer relationship management software
  • Software capabilities for data and information security

Accounting and financial software features

We’ve created a list of the qualities that good finance and accounting software has, which we’ve mentioned below. While not all companies that deal with software development for financial services offer all of these characteristics, you should keep them in mind while shopping for one. Financial software development company DataArt will make for you the highest quality product that will meet all your requirements and expectations.

Necessary:

  • Accounts payable: keeps track of money due to the company’s creditors and suppliers.
  • Receivables: keep track of delinquent invoices, client accounts, and funds.
  • Bank account reconciliation: compare and contrast financial data with bank statements
  • Creating and managing invoices and bills using Billing (Vital).
  • Creating a thorough expenditure report to keep track of your costs.
  • Asset Management: Using a centralized database, keep track of the information of fixed assets (such as depreciation and maintenance history).
  • Payroll management: managing employee salaries (salaries, wages, etc.).
  • Project accounting: Keep track of money from one project to the next.

Nice to have:

  • Income from grants, gifts, and other sources is managed through fund accounting.
  • Create a thorough track of all things acquired throughout a project using purchase orders.
  • Internal Revenue Service (IRS): Keep track of tax transactions and ensure that they are compliant.

Features of customer relationship management software

Customer relationship management software is already used by 60% of organizations. Again, not every CRM on the market will include all of these capabilities, and the value they provide may vary based on your company’s objectives. We think, however, that a CRM with these characteristics will give you the tools you want as well as some space for expansion.

Necessary:

  • Create notifications and alerts for impending events or tasks using a calendar or reminder system.
  • Document storage: Keep all of your papers in one place.
  • Lead scoring is the process of evaluating leads based on their quality or chance of purchasing.
  • Integration with marketing automation technologies is referred to as marketing automation integration.
  • Mobile Access: Mobile devices can be used to access applications remotely.
  • Quotes / Quotes: Create a quote or quote for the client and send it to them.
  • Segmentation is the process of grouping leads or contacts based on common criteria.
  • Integration with social media sites such as Facebook, Twitter, LinkedIn, and others.
  • Create a current list of actions and their statuses for task management.

Nice to have:

  • Email marketing entails creating and sending email newsletters.
  • Integration with real-time communication platforms like Slack.
  • Customer data and accounts can be organized by user or geographic region in territory management.

Software capabilities for data and information security

There are several types of software that provide data and information security, and the one you choose will be determined by your requirements.

There’s a lengthy list of extra features for data and information security software below, and you should choose them depending on your specific needs.

Necessary:

  • Anti-spam is required to detect unwanted ads in e-mail messages.
  • Antivirus: a program that detects and destroys computer infections.
  • Detect and prevent attacks via the Internet with Vulnerability Protection (Vital).

Nice to have:

  • Identify and track specific transactions involving information or data with an audit trail.
  • Non-compliance with policies for a service, product, process, or supplier is tracked and managed through compliance management.
  • Database security auditing entails identifying and tracking information about database usage and abuse.
  • Set permissions to control who has access to data in a file.
  • Financial data protection refers to the safeguarding of financial information.
  • Maintenance planning: Keep track of and adhere to maintenance procedures before problems arise.
  • Continuous transmission of information through the security system in real time.
  • A record of security events that occur on the system is kept in the Security Event Log.
  • Virus Definition Updates: As threats are detected and handled at the vendor level, automatically update antiviral functionality.

Now you know what to expect in terms of features

But how can you put this knowledge to use? Consider this your interview cheat sheet for software vendors.

If a vendor lacks a feature that you feel is critical to your business, check them off your list. If they provide this feature along with a dozen others that you don’t require for a greater price, you may definitely find a more basic and cheap alternative. Interested in developing this type of software? Follow the link and find out all the details you are interested in: https://www.dataart.com/industry/financial-software/fintech

Related Articles

Leave a Reply

Back to top button