When you started this business 12 years ago you could balance the books at the end of every day in just a few minutes. Today, however, when it comes to figuring out the books at the end of the day, you rely on a financial package that includes retail billing software and debt management system software. From small businesses with only a few workers to larger businesses that include several offices, there are many kinds of retail billing software packages.
With the use of bill collection software and compliance management software, there are many tools that can help business owners of all size keep track of their finances. In fact, these software packages not only make the day to day financial tasks easier to manage, they also make it easier to gather the financial information that is needed for end of the year tax filings.
Debt Collection Management Systems Help Companies Stay Profitable
Businesses of all sizes can benefit from the latest software packages, whether they are used for billing or tax preparation. Consider some of these facts and figures about the computer software management industry and the impact that they have on the nation’s economy:
- 75% of American workers believe they do not have access to the latest efficiency-boosting technology that can help them access their online payments.
- Many companies find that 50% or less of their desired user base will take the time to fully adopt new enterprise technology and software solutions.
- 47% of companies plan to increase their spending on software designed to improve virtual help desk initiatives and customer service, according to Contegix research on enterprise software users.
- With North America and Europe leading growth, the global enterprise software market will exceed $500 billion by the year 2022.
- Work overload is a serious problem. In fact, if employees fear they do not have enough time to complete their tasks, their overall productivity decreases by as much as 68%.
- Unfortunately, employee productivity grew just 0.3% a year between 2011 to 2016, according to the U.S. Bureau of Labor Statistics.
Whether you are in your first year of business or you have been running a business for more than 10 years, it is important to make sure that you have the latest billing and collection software to make your business as profitable as possible.