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Four Business Software Systems Most Often Used By Successful Companies

21 January 2015 by Linda Holmes

Successful companies often find ways to exploit information to their benefit. You can do the same by making use of business information systems. These software tools collect and process data using need-based manipulations. With these systems, you can run your operations more efficiently, curtail costs and generate income.

Transaction Processing Systems

Transaction processing systems enable you to collect, store and process data. Also, your customers can interact with you by inputting information into your business systems. The system then processes the data and updates itself. Finally, the system produces an output, such as a report, that you can use for further business activities.

Generally, transaction systems include three main procedures: input, process and output. Using an online travel booking system as an example, these procedures work as follows:

1. Input: Customers input information into the system by selecting seats or reserving hotel rooms
2. Process: The system updates itself, assigning seats or rooms to the customer
3. Output: The system generates a bill or a receipt

Customer Relationship Management Systems

Companies use customer relationship management systems to synchronize their sales and marketing efforts. Typically, these applications enable your customers to interact with sales and customer services personnel. They allow for faster order fulfillment, and you can receive feedback and solve problems quickly.

You can use a CRM as a business tool to help your employees interact with each other. For example, they can collaborate on product development, enabling your company to keep its competitive edge.

Business Intelligence System

Business intelligence systems are complex business software applications. They enable you to identify, extract and analyze data for various business needs. For example, you might complete an analysis of future sales patterns and current costs. You also can associate sales revenues with each of your target market sectors and cost factors with each sales team.

You can use business intelligence system to improve your company's efficiency and find business opportunities. Other benefits you might get when you use a business intelligence system include the following:

• Make informed decisions based on historical data and current information
• Review quick metric report
• Gain understanding of customer habits
• Analyze business performance

Knowledge Management System

If you have employees, they probably switch between departments in search of more challenge and better pay. It's likely that some leave the company altogether. Thus, retaining their experiences might be a challenge.

With a knowledge management system, you can keep business knowledge in house. You also can organize and share it as you see fit. These enterprise software systems store vast details about a company's products and processes. You can store information such as tutorials for using your products, product versions and warranty information. You can use knowledge management systems as a training tool and as a resource for remote employees. You also can share your knowledge base with your customers.

Choosing a System

You can buy commercial, off-the-shelf systems (COTS), but you might prefer custom business software. You'll need to use your COTS as is, and you might need to change some of your processes to accommodate the system. Conversely, developers create custom-built business software or tweak COTS just for you. They customize these systems according to the way you operate.

Speak with a professional about software development to learn more about the business software most often used by successful companies.

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