4 Mighty Technical Tools You Need to Have for a Startup Business

Mighty Technical Tools You Need to Have for a Startup Business

Technology has now become an inevitable part of any business. From the smallest self-run business to the biggest corporate, it is essential to have technological tools to ensure the smooth run of the business processes at various levels. Ranging from business accounting software to complete enterprise resource planning, flexible technological tools has now leveled the playground for all sorts of businesses and enables the small businesses too to compete with the giants. All businesses can have access to the same technology to increase productivity and ensure customer engagement. In this article, we will discuss a few tools you can effectively make use of for your startup business.

  1. Technology-assisted business planning

The key to success in launching a new business is to have a solid plan in the first place. Many of the aspiring entrepreneurs now take the assistance of online business planning services. These services offer a wide range of tools and platforms to convert potential into a successful business venture.

Mighty Technical Tools You Need to Have for a Startup Business

Chart generators, financial projectors, expense calculators, etc. will help you crunch the numbers and illustrate and quantify the vision of a businessman. These tools can also be used to measure the performance of running a business in terms of meeting the milestones and monitoring the goal achievement for entrepreneurs to track the progress and then make the necessary adjustment to the business operations.

  1. Website development and hosting

No business can thrive in a highly competitive market nowadays without a solid presence on the internet. To get an informative and attractive website, it is essential to get the service of reliable web development and hosting provider. These services will communicate with you to understand your business needs, and then custom builds a website to serve to your purpose.

Hosting services will help store your web pages on a data server, and then present it to the users through the web. Hosting is the process of storing your website and let the users access the website through a domain name of your choice. Hosting services offer a number of solutions which the entrepreneurs can avail like supported apps, email accounts, and also control panel access to the website to make changes from time to time.

  1. Shopping carts

Owning a website is only half of the task in terms of establishing your business online. However, the need for modern day commercial websites is to do the entire business online itself. For this purpose, you may need the support of shopping cart software. Such a platform will enable you to make the trade online and to accept payments also through a payment gateway integrated to your website.

Along with various payment acceptance modes as credit/debit cards, internet banking, and third-party payment applications, shopping software provides tools for the shoppers to calculate the shipping cost and also the taxes. So, in addition to enabling ordering goods online, shopping cart software also helps complete the end to end shipping and the tracking the inventory also towards delivery and generate the reports and invoices automatically.

  1. Data storage services

Business owners are now relying on data than ever before, which is considered to be one of the most important assets for any organization. RemoteDBA.com also points out the importance of any startup business to ensure that their incoming data is stored properly and can be retrieved when needed. There are many online database services available now, which you can make use of. Unlike olden times where database management was a complex affair, now there are plenty of flexible and scalable solutions in high-end database management for small businesses also to avail.

As the modern-day solutions are storing data on the cloud, the users can also avail data real-time from anywhere over an internet connection. With the increasing need for big data storage, there are many add-on applications also coming into the picture which ensure data redundancy and analytical capabilities too. A notable wave in database technology lately is the shift from conventional relational database models to more advanced non-relational databases, which makes it easier for small business DBA. As database management is an important aspect of growing your business, let’s further discuss a few things about the advantages and disadvantages of the latest NoSQL DMBS approach.

Advantages

  • Scalability

Relational databases are not easy to scale up or down when needed, whereas the NoSQL databases are much flexible and transparent in terms of it. Taking advantage of a node distribution model, these databases use low-cost and highly efficient commodity hardware. In the changing data world where the upward scalability is getting replaced with the increasing demand for outward scalability, where NoSQL database is a good fit.

  • Big data

The data transactions rates and needs are growing at an exponential rate lately. When the conventional relational database management systems are gasping to find levels with these needs, the latest NoSQL databases possess the capabilities to serve to it well.

  • Database administration

RDBMS applications may need the services of costly third-party admins to design and run the DB systems. However, the NoSQL databases only need very minimal expert management with their automatic data distribution and repair capabilities.

Drawbacks

  • Not matured

The RDBMS systems are there for quite some time now and are well seasoned and trustable with a lot of add-ons overtime. However, the NoSQL databases are a new concept with a lot of immaturities and disadvantages, which needed to be worked on.

  • Limited support

Business enterprises need a reassurance that they will get adequate support in case of a data management system failing. The leading RDBMS vendors are offering a good service with a solid network built over time, whereas the NoSQL players still don’t have such a solid support system.

Along with the database requirements, there are more technological essentials for the startup business like a good security and anti-virus system to safeguard their data and infrastructure. It is also important to incorporate a payment gateway to the web portal and also a credit or debit card processing system. For the retail stores and restaurants etc., it is advisable to install a POS system also which will make the checkout process easier. Time tracking and real-time operation management tools can also help improve the efficiency of business processes and ensure a better output.

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