As your business grows, it becomes more and more important to track and analyse your progress, assets and data. While a spreadsheet might have been enough when you were first setting out on your venture, as time goes on and your business grows up around you, the number of metrics involved will grow too. This means that you will find you need a smarter solution soon. That’s where business analysis and tracking tools come in.
Asset Management
Your business assets are essentially everything that your business owns in order to continue running smoothly. This might be fixed assets such as properties or materials or it could be IT assets like software, hardware or mobile devices. All of these things have an impact on the way you do business so managing these assets is vital.
A piece of asset management software is ideal for this. There are all sorts of different softwares available for different uses. IT asset and service management software is perfect for making sure your IT is well aligned with your business and fixed asset management does the same for your fixed assets. If you are looking for a software that combines the two, enterprise asset management is probably the best choice for you.
Website Analytics
Google analytics is probably the best known and most used website analytics platform. All you need to do is install the cookie on your website and it will track a wide variety of metrics and provide you with meaningful data and analyses.
Keeping tabs on your website like this will show you where your audience is coming from, what they do when they get here and which pages are best for retaining them. Form this information, you can optimise your website to encourage customers through the conversion funnel and transform them into paying customers. Once you can see what your visitors are up to, you are more likely to be able to change your business model to make it more profitable and efficient in the long run.
Use Digital Stock Control
If there is one digital business solution you can use to keep your stockroom working efficiently, it is using a digital stock control system. When barcodes were first invented, they revolutionised the supermarket experience and have been vital ever since. Even if you started as a relatively small trader with only a few items for sale at a time, there comes a point where counting up what you have is simply too laborious to do more than once a quarter at most. Let the scanned barcode tell you all you need.
Digital stock control will keep track of what you are selling as well as allow you to input the stock you receive. This way, you will know exactly how much is in your storeroom at any given time. You will also be able to work out when to order new stock and how much you should get. Tracking will give you the tools you need to analyse which items are most popular and figure out a trend for the future.
