11 Tips to Help You Find the Right Small Business Software 

Save time & gain focus

Small business owners often need to do more with less. Before you’ve grown your business enough to have separate departments for accounting, inventory management and security, you’re probably doing those jobs yourself. 

That’s why small business software is so important. With the right software, you can offload responsibilities that might otherwise take you away from doing what you do best: running your business. 

At Walmart Business, we know that it can be hard to find the time to manage all of the tasks you’re responsible for, much less source new software. That’s why we’ve compiled this list of tips to help you find the right small business software for you.

Small business software for accounting

Often, the person running a small business is also handling the books—and chances are good they’re not specifically trained in accounting. That’s why many small business owners turn to software to help bridge that gap.

Small business software for accounting is often designed with non-accountants in mind, with interfaces specifically created for people who lack that kind of experience. 

Features to look for in accounting software 

While the features of different accounting software suites vary, most will perform basic tasks like invoicing, payroll and tax preparation. It’s the features beyond the basics that set different software packages apart. Think about what your business needs right now, then consider the following options. 

• 1. Automation tools to save time and tedium: For busy small business owners, automation can make a huge difference in getting the job done. Automation tools can help calculate incoming and outgoing funds, put entered values in other important forms, point out critical tax codes and highlight errors. Automation can also help you pay your bills on time and ensure your finances are compliant with regulations.  

• 2. Consider integration with other systems: Depending on what other software you use to manage your business, your accounting software might be able to integrate and share data. For example, if your point-of-sale system can automatically tell your accounting software how much revenue you’re making, this can make it easier to manage the books.  

• 3. Do you need a mobile app? Business owners like contractors or landscapers, who are continually on the go, will appreciate accounting software that comes with a mobile app.  

To learn more about accounting software, read The Buyer's Guide to Small Business Accounting Software. 

Small business software for managing inventory

Managing inventory is one of the most important tasks small business owners have. Your inventory is your lifeline, and ensuring you have enough to meet demand while not overspending can make or break your business. 

Inventory management software can help automate this critical task, saving you both time and money. It's important to look for the right features when selecting inventory management software. These tips will help:

• 4. Look for real-time inventory tracking: It's crucial to know what you have in stock to provide up-to-date customer service and effectively manage your inventory. Automated, real-time tracking will update your inventory list the second you make a sale, so you can spend more time managing the business and less time scanning the shelves.
  

• 5. Consider an order management system: There’s more to inventory management than tracking sales. To get a good read on the holistic health of your inventory, you need to track items throughout their entire lifecycle. That means from the time you order it from a supplier to the time it goes out the door in the hands of a happy customer. An order management system (OMS) can show you when inventory is in a warehouse, on a truck or earmarked for a specific sale. 

• 6. Prioritize data security: Even small businesses need to be concerned about their data security. Around half of small- and medium-size businesses experience data breaches annually, and 83% are simply not prepared for cybersecurity issues. Software with proper data security will help you manage permissions and keep your data safe from intruders.

For more tips about managing your inventory with software, read Small Business Inventory Software: 7 Features to Prioritize.

Small business software for security

According to the FCC, incidents of data theft now surpass physical product theft. Security software is at least as important as the locks on your doors. 

There is no shortage of solutions available to keep your data safe. Finding the right security software for you depends on what features you will find most useful. Check out our tips:

• 7. Ensure you have appropriate data protection: The most basic function of security software is that it is able to secure your data. Advanced data protection features include remote access, cloud storage and backup protection.

• 8. Look for compliance: Compliance can be just as important as security, especially in heavily regulated industries like healthcare. Software with strong compliance features will help you keep your data in line with regulations. Software recommended by your industry’s trade organizations is a good place to start.

• 9. Prioritize user-friendliness: Just like with accounting software, security software often does the heavy lifting for business owners who lack the expertise to manage security themselves or the resources to hire a dedicated professional. Look for tools with extensive support and tutorials. Reviews that highlight a software’s user interface (UI) or user-friendliness are a good sign.

• 10. Find a formidable firewall: A firewall stands between your system and the dangers out on the internet. It’s continuously monitoring internet connections to ensure that only safe traffic gets through. Security software with a strong firewall that’s properly implemented will keep hackers away from your sensitive systems.

• 11. Look for threat detection and response: Consider threat detection your last line of defense. Should anything manage to get through your firewall, threat detection will notice and take action, often by quarantining the offending intruder so that it can be safely dealt with later. 

For more on security software features to look for, read Small Business Security Software: 5 Things to Know Before You Buy and What Is the Best Small Business Computer Security Software.

Outsource even more tasks to Walmart Business

Free up more time to focus on your business with a Walmart Business account. You’ll have access to features like subscription ordering and multiuser accounts with shared payment options. Already have a Walmart Business account? Upgrade to a Walmart Business+ membership to save over $500/year¹ and enjoy exclusive perks for your organization. With features like free shipping on orders of any amount,² free delivery from the store on orders of $35 or more³ and the ability to earn 2% in Walmart Business Rewards on orders of $250 or more,⁴ Walmart Business+ will give you the savings you need to grow your business and thrive. 

¹ Excludes most Marketplace items, freight and certain location surcharges.

² Restrictions apply.

³ Rewards can only be used toward future purchases on Walmart Business. Additional terms apply.

⁴ Savings based on 1 free $35+ delivery order vs. $9.95 fee and 1 free shipping order under $35 vs. $6.99 fee biweekly, plus 2% Walmart Business Rewards on monthly order >$250 (average value of $400).