In today’s small business world, the common reasons why businesses fail are out-of-control growth, poor accounting and operational inefficiencies. Small businesses are constantly dealing with inefficient back-end processes that result in increased costs – as well as reduced employee productivity and revenue. Because of this, often times small businesses find it difficult to take on new projects as they do not know their financial standing, availability of resources or their pipeline in real-time.
Below is a short, yet simple, “1-2 Punch” on how your small business can be better organized starting today:
Punch 1: Automate as many business function as you can, with the least amount of software solutions; preferably one or two solutions at the most. Operating your business manually is costly, time consuming and prone to errors. But randomly picking up different solutions for each of your departments is not the answer either, as you will need to integrate them, learn different systems, and manage multiple licenses. You can get the best of both worlds by implementing a single comprehensive solution.
Punch 2: Know where your time and money is being spent. Not accurately tracking your resource allocation could be the difference between running a profitable business and closing your doors. Regardless of the type of business you run, you should consider tracking your clients, projects, resources, time, and invoicing in a single online solution that will keep you organized with a full 360 degree view of your operation. There are many solutions in the market, such as Vorex, which provides insights into the information needed for critical and strategic decision making that supports both long and short term planning.”
Headquartered in the Greater Dallas Area, Vorex is a leader in professional services automation (PSA) software that manages core business processes with a comprehensive solution. Vorex PSA is the only cloud-based single comprehensive software for the small- to mid-size business market offering project management, time and expense tracking, billing and invoicing solutions with an integrated CRM and HR solution. Vorex has regional offices in San Francisco, New York and London.
About Mike Salem
Mike Salem is the CEO of Vorex, which was founded in 2007, and is one of the company’s original founders. His career as a visionary business innovator spans more than 20 years. He has extensive experience in cloud computing, professional services automation (PSA), project management, small business IT solutions, and risk management. Mike has directed the company’s growth, while developing and implementing Vorex’s vision and business strategy.