Do you know that 60% of startups fail in their first three years? That’s a lot of people who had great ideas and were excited about their businesses throwing in the towel.

One question that comes to mind is: what if they had all the right resources to grow their businesses? Chances are that a good number of them would still be in business.

So, for your business to stay above board and thrive in the ever-competitive market, you must take advantage of the numerous corporate resources that are built to boost your business. Ready to know these tools? Let’s get to it.

What are corporate resources

The term ‘Corporate Resources’ can be vague and broad, so it’s good to be clear about what it really means. Corporate resources are tools, solutions or software that make running your business as smooth and seamless as possible. They help you save time, energy and effort.

In addition, these tools help you adapt to business trends and achieve better results. Any business not harnessing these resources will soon join the 60% failed companies. Learn how to get the most out of these business software and see the difference in your business.

5 corporate resources to boost your business in 2023

The resources collated here have been tested and trusted. They have proven to make business operations easy and fast. They are cost-effective, improve productivity and bring more profit. Go through them and determine the most suitable for your business.

Project management software

These tools are essential for managing several projects at the same time. It is designed to save you tons of time wasted waiting for one project to finish before starting another because of limited time and resources. With them, you can digitally initiate and monitor tasks, deadlines and appointments.

Project management solutions automatically initiate reminders, ensuring you don’t miss any activities and events. These reminders come with details of such events and activities. These tools also help with resource allocation, ensuring team members work on the right projects at the right time.

In addition, project management software facilitates better communication and collaboration. It keeps all stakeholders in the loop and keeps every correspondence on record for easy reference. These tools also enable easy documentation; all files and documents are saved and can be easily located when needed.

Optical Character Recognition (OCR) tools

You must have heard about OCR and wondered what it is. Not to worry, this OCR guide by Klippa will enlighten you. In it you will learn all you need to know about optical character recognition.

Simply put, OCR helps with text recognition. It is helpful in extracting data from documents, capturing data from receipts and invoices as well as reading licence plates. With this tool, you can greatly reduce manual processes in your business. With it, you can invest time and energy in more profitable activities.

Corporate travel websites

Sometimes you will need to make business trips and the booking process can be quite stressful. Getting the best deals is a headache on its own. Add to it the arduous task of filling expense reports and you’ll agree you need help. Thankfully, travel corporate travel websites have come to the rescue. With them, you have access to larger inventories, easy booking and 24/7 support.

However, getting the appropriate corporate travel website for your company might be tricky. TravelPerk’s list of best corporate travel websites helps out here. It discusses all the criteria you must look for when shopping for a travel website and recommend some really good ones.

Customer relationship management (CRM) tools

Managing customers can be very tedious, especially for small businesses with limited resources. This is where CRM software comes in. You get to build the perfect customer base with CRM systems.

These tools help collate all your customer interactions in a central location. A CRM software is an organised system that facilitates regular communication with customers as well as within the company.

CRM tools boost customer service by collating all contacts’ data in one place. In addition, this system gathers essential customer data like demographics, buying details, habits, and so on. This information is accessible to every team member, enabling them to use it to boost customer relations and grow the business.

Apart from improved customer service, other benefits of customer relationship management tools are listed below:

– Better segmentation of customers

– Increased productivity

– Automates sales reports

– Improved sales forecasting

– Growth in sales

– Better customer retention

– Improved communication across board

– Well-detailed analytics

HR management software

Human resources management is a vital aspect of business management. The process of hiring, onboarding and managing staff can weigh an entrepreneur down. This is because the manpower needed to make this segment of business run smoothly is not usually available for a small business. An HR management software therefore becomes necessary.

These tools handle payroll, benefits, time off and other HR issues. HR tools improve efficiency and productivity in the workplace, enabling staff to focus on other important aspects of the business. Also, companies can retain staff due to talent management tools.

HR management software also helps reduce human errors in payroll and taxes, for example. Manual data entry comes with errors that are eliminated with the use of HRM software.

Invest in corporate resources for improved business growth in 2023

No one starts a business with the aim of folding it up. Every entrepreneur’s dream is to build a business that will thrive. Without the right tools, however, this dream will remain just a dream. To compete favourably and succeed in this fast-moving business world, you must leverage the right resources.

Resources that can help you stand tall among your peers include project management software, optical character recognition tools, corporate travel websites, customer relationship management tools and HR management software. When you put these tools to use in your business, you will experience productivity and growth in the new year and beyond.