Research shows that 90% of small business failures point to poor management skills as one of the main reasons companies fail. Keeping a company on the fast track to profitability, growth, and success requires a set of fundamental managerial skills. Here we look at one area that has the biggest impact on business these days – technology management. For more information, you can also check out this source: Technology Management at UCSB.

Accounting and payroll system

You must manage the evaluation, selection and implementation of appropriate accounting and payroll packages to manage the bookkeeping, bookkeeping, payroll, financial reporting and taxation related to your business. A thorough understanding of this topic will help you manage your business finances and allow you to work proactively with your accountants and tax professionals.

Online banking

Internet banking allows you to make direct payments and deposits electronically. This will save you a lot of time and allow you to do your banking the way you want instead of having to queue at the bank for a long time. You can also complete the reconciliation quickly and easily by downloading the transaction file and importing it into your accounting system.

Retail system

Sales systems are essential for retail and many services. The system captures transaction details at the point of sale and sends them to the customer relationship management and accounting systems.

Customer relationship management system

Customer relationship management systems are becoming increasingly important to most business operations and it is important to understand the database systems themselves and how they interact with other systems in the workplace.