Business Tools For Which You May Be Over-Paying

Running a business is a lot of work. But thanks to the many different business tools out there, it has become a lot easier to manage. Instead of tracking invoices, payments, and spending manually, there’s a software that will do it all for you with little effort required on your part. Instead of having to adjust your marketing based on trial and error, there is analytics software that can tell you exactly how well something is performing. As great and useful as these business tools can be. Though, they can also end up being quite expensive.

As an example, it is estimated that companies spend between $3,000 and $5,000 a year per sales rep on sales technology. While that technology or even marketing tools, communication tools, and other types of business tools may be extremely helpful and even necessary in some cases, too many businesses end up over-paying for a tool when they could be getting the same benefits from another while saving some extra money in the process. While you may not be able to find alternative tools that are completely free, you may want to evaluate what you’re spending on certain tools, like those below, and find an effective but more affordable option instead.

Video Editing Software

The videos your company puts out say a lot about you. So it’s important that they be professional, attractive, and perfected before you publish them. This makes video editing software a total necessity, but the software out there can get pretty pricey. And depending on how often you’re creating and publishing videos, the price may be more than you can really afford to pay. But what other option do you have?

Luckily, there are plenty of other options, and you can find everything from free video editing software for beginners to software that will all but put a video together for you.

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Analytics Software

Analytics are an important part of a business, whether it be marketing and advertising, sales, manufacturing, or any other aspect. It can tell you exactly what is working and what’s not, can help you set and track goals and more. You don’t need to be paying a ton of money for analytics software, though.

While there may be certain programs you don’t want to give up, there are other alternatives that can be just as useful without costing a dime. For example, Google Analytics can help you keep track of how your website and landing pages perform and give you better insights into your audience for free.

Accounting Software

Accounting software is not only important, but it can make running a business a lot easier. Because it can help you better track expenses, plan budgets, and make projections. It can even do taxes than if you were attempting to do it on your own. Despite its many benefits, though, it’s reported that 18 percent of small businesses don’t use accounting software at all. One of the main reasons for that may be the price tag that some software comes with; however, there are plenty of affordable options that are available instead.

As an example, QuickBooks is one of the most well-known accounting software out there, and even large businesses rely on it to help them keep their money under control. Its cost is surprisingly affordable, though. There are even some tools that are completely free, although their capabilities may be somewhat limited. So, no matter what size your business or your accounting software budget, you can feel confident that you’ll be able to find something that works for you.

Assistants

While assistants are people who fill jobs and not necessarily a business tool; they perform functions that many executives and even lower-level employees rely on. And, although there’s no way to completely replace a human employee, you may be overpaying for the assistants that you have on staff. While you may not want to replace all of the assistants since they can do more than just schedule events and screen calls, you should consider holding off on hiring any new assistants—especially for employees who are just looking for a gatekeeper.

Instead of paying the cost of finding, hiring, and continually paying an assistant for someone who just needs help with their schedule, there are plenty of free tools that you can have them use instead. There are a number of tools that can help do everything from schedule appointments and meetings to manage phone calls. So you can save some extra money to hire really great assistants for those who really need them.

Credit Card Processors

Consumers expect to be able to pay for goods and services with credit cards; so it’s important that you have a processor. However, with processing fees that can get quite high, (Kroger is going to stop accepting Visa credit cards, allegedly due to high fees), you could be spending more than it’s worth to offer your customers credit card payment options. Luckily, there are a number of alternatives that you can use instead, such as PayPal which allows you to accept and even make payments without incredibly high processing fees.

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In Conclusion

While the cost of some tools is worth it, there are other tools you could be over-paying for when running your business. Whether you want to save money or simply don’t want to waste it where you don’t need to, reevaluating your business tools and looking into more affordable, or even free alternatives could save you more money than you expect without you losing any of the tools’ functions.

What tools do you suspect you’re over-paying for? Please share your thoughts in the comment box below.