This is one of the articles in the KROST Quarterly Technology Issue, titled “5 Powerful and Innovative Software Tools for Your Team.”

Today, more than ever, companies are looking for powerful tools to make decisions and drive innovation during these uncertain times. In some instances, innovation is needed to keep track of sales or tasks while working from home. However, in other cases, it may be needed to streamline a process that has taken too long for too many years.

Regardless of which situation your company is in, here are five potential solutions that may also be useful to your team.

  1. Salesforce – This customer relationship management (CRM) service is among the most popular in the world – and perhaps for a good reason. It provides a one-stop solution for managing contacts, identifying potential sales opportunities, and tracking sales revenue. However, these capabilities are only scratching the surface of what is possible with Salesforce. The platform also includes Trailhead, a website that provides tutorials and literature on how to become an intermediate user of their platform.
  2. Monday – If your team is looking for a simpler solution for managing tasks remotely, Monday may be a potential solution. This platform helps users delegate tasks, track deadlines, and collaborate with teammates through an online or mobile web application. The service is straightforward to grasp, and its user interface is arguably cleaner than its competition (e.g. Asana).
  3. Power BI – Power BI has gained significant momentum over the past serveral years, as it is more common in offices across the country. Its growing popularity is linked to its ability to display and filter data in an intuitive user interface. It can provide better insight into areas of inefficiency to improve processes and realization. Power BI is also a Microsoft product, so there is some continuity and familiarity with the product itself and its licensing.
  4. Microsoft Power Automate – Previously called Microsoft Flow, Microsoft Power Automate is also part of Microsoft’s “Power Apps” family of products. This service allows users to create their own automations, called “workflows,” to do anything from sending notifications to project reviewers to creating Excel reports from Outlook inboxes.
  5. Automation Anywhere – Finally, although it is arguably a lesser-known tool than Microsoft Power Automate, Automation Anywhere is a more powerful alternative to automation outside the Microsoft ecosystem. Automation Anywhere can pick up wherever Power Automate leaves off. Microsoft Power Automate specializes more in automations related to the Microsoft Office suite.

These solutions are a great way to streamline processes, yet it is important to weigh whether they are even feasible for your team. It can be tempting to dive deep into the newest technology without effectively weighing the long-term cost-benefit for dedicating resources to them. After all, we live in a quickly changing world and do not want to be left behind for failing to embrace change. But if appropriately vetted, these tools truly have the power to take your processes and communication to the next level.

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KROST Quarterly is a digital publication that highlights some of the hot topics in the accounting and finance industry. Volume 4, Issue 2 highlights some of the hot topics in the technology industry including Client Accounting Services (CAS), Nonfungible Tokens, the Effect of Upcoming Changes to IRC Section 174 on the Software Development Industry, and more.