Business Needs

---

To run all aspects of a small and medium business (SMB), several software functionalities are essential. Here are the required software functionalities for different aspects of an SMB:

General ledger: Tracks financial transactions, accounts, and   balances.   
Accounts payable and receivable: Manages invoices, payments, and   collections.   
Budgeting and forecasting: Helps with financial planning and   forecasting.   
Payroll management: Calculates employee wages, taxes, and   benefits.   
Financial reporting: Generates financial statements and reports.

Contact management: Stores customer information and interaction   history.   
Lead and opportunity management: Tracks leads, manages sales   pipeline, and forecasts revenue.   
Sales and marketing automation: Automates sales and marketing   processes, including lead nurturing, email campaigns, and customer   segmentation.   
Customer support: Manages customer inquiries, tickets, and support workflows.   
Analytics and reporting: Provides insights into customer   behavior, sales performance, and marketing effectiveness.

Inventory tracking: Manages stock levels, locations, and reorder   points.   
Purchase order management: Automates purchasing processes,   supplier management, and order tracking.

Warehouse management: Optimizes storage, picking, and shipping   processes.   
Demand forecasting: Predicts future demand based on historical   data and market trends.   
Supply chain visibility: Provides real-time visibility into the   supply chain, including order fulfillment and logistics.    

Employee database: Stores employee information, including   personal details, job history, and performance. 

Time and attendance tracking: Records employee work hours, leave   requests, and absences.   
Benefits management: Manages employee benefits, such as health   insurance and retirement plans.   
Performance management: Facilitates employee performance   evaluations and goal setting.   
Training and development: Tracks employee training, certifications, and skills development.    

Task and project tracking: Manages project tasks, timelines, and   dependencies.   
Document management: Stores and organizes project-related   documents and files.   
Collaboration tools: Enables team communication, document   sharing, and task collaboration.   
Gantt charts and resource allocation: Visualizes project   schedules, milestones, and resource allocation.   
Time tracking: Records time spent on projects and tasks for   accurate billing and resource planning.    

Email and calendar: Facilitates email communication and manages   schedules.   
Instant messaging and chat: Enables real-time communication and   team collaboration.   
Video conferencing: Allows virtual meetings and remote   collaboration.   
File sharing and document collaboration: Supports shared access   and collaboration on documents and files. 

Project wikis or knowledge bases: Centralizes information and   knowledge sharing within the organization.    

Website management: Enables website creation, design, and   content management.   
Search engine optimization (SEO): Helps optimize website content   for better visibility on search engines.

Email marketing: Manages email campaigns, subscriber lists, and   analytics.   
Social media management: Facilitates scheduling, posting, and   analytics across social media platforms.

Analytics and reporting: Tracks website traffic, campaign   performance, and user engagement.    

It's important to note that the specific software solutions and functionalities required may vary depending on the industry, size of the business, and specific needs and processes of the SMB. The selection of software should align with the unique requirements and goals of the business.