Business owners are often confused by the term “business software” or “business management software,” so here is a brief history of how business software came to be, what it is today, how it can help your business.
At the core of every business has always been its general ledger. As you probably know, entries used to be recorded by hand before 1961 when the first large-scale computerized accounting system was introduced by IBM. This system was called 9Pac, and it was one of the first systems to track the sales of every salesperson in a company.
In 1973, SAP (founded by 5 IBM engineers) introduced an enterprise-wide system that was capable of automating financial transactions and supporting executive decision making.
In 1984, Intuit introduced a computerized computing program for personal finance, called Quicken. During the 1980’s several project management platforms were released, each of which could cost upwards of $500,000.
In 1994, Intuit released QuickBooks for small business owners who had little experience with accounting. These new systems allowed accountants and business owners to become more productive and efficient.
The early 90’s also saw the rise of ERP (Enterprise Resource Planning) systems like SAP and Oracle that were meant to integrate business’ processes throughout every functional area. ERP systems initially focused on back office functions but as the internet gained popularity and software platforms became more complex, the systems began to include front-facing functions such as CRM and e-commerce.
To this day, ERP systems are incredibly expensive and often require installation of hardware on site, full-time IT staffs to maintain them, and long training periods to get you and your employees up to speed. These issues have made traditional ERPs unsuitable for SMBs—even though many of them could really benefit from having similar (albeit simpler, less clunky) tools available to them.
In 2012, here at Knowify, we decided to step up to the challenge of delivering ERP-like power in a package designed for small and medium-sized businesses. We dedicated ourselves to developing simplified, user-friendly applications that serve nearly all the major business functions at an affordable price.
For us, business software is any software that can perform business functions accurately and increase employee productivity and efficiency. Simply put, business management software include the essential tools to run your entire business. Knowify can manage all facets of your business: from invoicing and billing, to contracts, projects and CRM. Try Knowify’s business software for 14 days today and see how knowing your business better can help you grow it.
For more information on Knowify, send us an email at firstname.lastname@example.org!