The end of the financial year is a good time for small to medium (SME) business owner to examine their business expenses.
Using improved technology is a proven strategy to minimize your overheads while simultaneously enhancing your business productivity.
We all know how expensive modern technology can be.
Adoption of superior technology, on the other hand, can pay off handsomely in the long run.
You can, for example, drastically reduce staff hours by optimizing your business and IT operations, resulting in significant cost savings.
Working from home, or ‘remote working,’ is another sector that benefits greatly from new technology and can save you thousands of dollars.
Apart from the lower costs for your company, there are numerous other advantages.
1.Utilise the power of social media
You may save money on advertising by using free social media channels to market your business, such as Facebook, Twitter, and Instagram. You can also use social media to integrate automated scheduling into your marketing operations, such as email responses and blog posting. This can assist you in better organizing your company.
Social media is also an excellent way to reach a broad demographic of customers, build brand loyalty, and get your company recognised.
2.Harness Cloud-based services
Cloud-based services are a terrific method to save money because they are usually less expensive than using systems that are already in place for your company. It also makes it easier for your staff to work from home because they can collaborate with their colleagues and access information over the Cloud. With the large range of Cloud-based services currently available, you may make the most of your resources by not paying for services you don’t require. Core IT can assist you in determining the optimum way for your company to utilize the Cloud.
3.Consider a ‘paperless’ system
Going paperless can help your company save time and money by allowing you to browse through electronic records for the information you need. You’ll save money on office supplies, file systems, paper, and ink cartridges as well. Going paperless is also better for the environment, which might give you an advantage over competitors when it comes to client loyalty.
4.Pay close attention to cybersecurity
Spammers, hackers, and other online criminals can cost your business a lot of money. Not only does restoring the damage cost a lot of money in terms of technology, but it also causes a lot of downtime, which hurts your bottom line. Fortunately, there are a plethora of excellent antivirus and security apps to choose from. To help avoid attacks, make sure your firewalls, anti-spyware, and other security measures are up to date and effective.
5.Take a look at your phone system
Phone companies are always working to improve their goods and services. As a result, if you can discover a less priced solution to match your business’s demands, you can save a lot of money. Another way to save money is to replace your landline phone service with Voice over IP (VoIP). VoIP allows you to make phone calls through your high-speed Internet connection.
6.Invest slowly but steadily
While it is a good idea to invest in cutting-edge technology, some organizations may find it tough to pay for it all at once. Fortunately, it is not an all-or-nothing situation. Consider upgrades and other cost-effective changes to help you operate more efficiently if your company has a low turnover. When your money allows, you can then invest in cutting-edge technologies.