Data is a vital asset for every business. It must be stored and maintained in perfect health. When you do not have data, business decisions will be harder to make. On top of that, making very good decisions will be nigh impossible. You have to review the current and past facts to make informed decisions. This is why databases are of great importance to a business.
Spreadsheets are great tools for number crunching. But if you have lots of data, for example on customers, staff or your inventory, you may benefit from a more efficient data management tool. Here's why you should consider replacing spreadsheets with databases to help your business grow…
1. Centralised systems
2. Better management of human resource (HR) matters
3. Managing customer data and relationships
4. Efficient inventory tracking
5. Planning for growth
If your business is growing and you have staff to help you run it, keeping track of the increasing amount of data can be tricky. Good database systems can help you manage all your business-critical data centrally, safely and securely - whenever you need it - to boost your chances of success.
Using a HR database to manage staff records can save you time and money. It can streamline most of the HR tasks, automate routine jobs and speed up the processing of data such as staff hours, leave, benefits, payroll, etc. This can leave you more time to focus on growing your business.
If customers are the lifeblood of your business, then a good customer relationship management (CRM) database should be at the heart of your growth plans. Full-featured CRM databases are usually powerful enough to store and process everything, from customer contact details, interaction history and accounts, to new prospects, leads and business opportunities. Some CRM systems can even help you run and track marketing campaigns, such as email newsletters. See more on customer relationship management.
Managing your inventory well can occasionally feel like a balancing act. It's easy to have too much - sitting on a shelf risking wastage, or too little - disappointing your customers and damaging your reputation. If you're tracking your inventory manually, it's also easy to miscount, make data entry errors or misplace spreadsheets and notes. By employing an inventory tracking database, especially alongside electronic data interchange and barcode scanning, you can avoid those risks and minimise lost sales while maximising your opportunities for growth.
Most business databases have some form of reporting capabilities – from analysing input data and productivity tracking, to anticipating future trends and customers' needs. If you’re planning a strategy for growth, a robust database system can be your business' most valuable resource.