Anyone who has tried to start a business will likely testify it’s an incredibly difficult undertaking. In fact, about 90 percent of all startups fail within the first year. Still though, there is that 10 percent of entrepreneurs who hit the ground running and find success from day one. What is it about these individuals that allow them to achieve success? Is there some magic formula to follow?


One of the secrets to startup success is recognizing the importance of incorporating today’s advanced technology into operational affairs. From payroll to communication, there are many software solutions you can use to your advantage. Here’s a look at five transformative payment solutions your business should be using.


1. QuickBooks

It doesn’t matter how long your company has been in business, QuickBooks is a must-have software solution that helps ensure your finances are being managed properly. There is a bit of training required to accurately use QuickBooks to your full advantage, but fortunately there are many professionals who received this training during their college years. If you can’t find someone with prior training, you can always outsource the training process to a QuickBooks expert.


2. sumHR

When it comes to payroll processing, sumHR is your go-to payment solution. In addition to performing a wide-range of payroll tasks, it also tracks employee attendance and leave, and newly created reporting and performance review tools are also available. If you’re tired of fighting difficult to manage spreadsheets, sumHR will significantly improve your payroll processes.


3. Xero

There is no denying that, as a business owner, you must wear several hats all at the same time. One minute you’re creating marketing agendas, the next you’re discussing distribution methods with a newly-hired distribution manager. With Xero accounting software, you can streamline a multitude of business finance processes allowing you more time to focus on the core aspects of operating your company. Xero enables you to reconcile with your banking institution automatically, create and send customized invoices, view cash flow reports in real-time, and manage your payroll.


4. SharePoint

If you’re tired of meeting up with your employees to work on a project — it can be a project all in itself just to gather everyone at the same place and time — then SharePoint is a software solution you will definitely want to consider. Providing an optimal online digital collaboration experience, SharePoint enables you to store, access, manage, customize, and share data and information with your employees, partners, and customers. Even better, you can customize permission levels in SharePoint, allowing some users the ability to edit, share, and manage the stored information. Gone are the days of employees having to be at the same location to work on a project. Whether they are working from a home office or a business location in another country, using SharePoint enables all the ability to access a project remotely and make necessary updates and changes using convenient online collaboration.


5. Google Docs

Google Docs — commonly referred to as Google Drive — provides a full suite of online software applications that can be used to streamline your business' operational processes. From spreadsheet creation to document management, Google Docs gives you prime access to today's leading software technology and, best of all, it is completely free. Google Docs uses online technology to deliver remote access to your most pertinent business information from any location that has Internet access.


Whether you're looking for software related to intelligent video analytics or simple help with processing payroll, today’s technology provides you with valuable solutions at cost-friendly prices. The internet provides a wide-range of information related to finding the best payment solutions that are suited for your company, so make sure to take advantage of them today.