We all know that technology brings with it many benefits, covering all aspects of our lives from our personal health to the way we work. For small businesses in particular, implementing the right combination of technology platforms and tools can have a significant impact, saving you both time and money.
While setting up the right tech can cost a bit in upfront money and time, the long-term benefits are almost always worth it. In this article we take a closer look at 5 ways that technology can help you achieve lower overheads, increased efficiency, and much more.
1. Automation of everyday processes
This is a big one. If you really stop and take note, you’ll find that there are countless tasks that you and your team perform on a daily, weekly or monthly basis. By automating these processes with clever tech, you’ll not only be able to get more done in less time, you’ll be paying your team less to do these tasks. Many businesses also find that their team is happier and more satisfied once repetitive tasks are automated, as they have more time to spend on other more thought-provoking and creative tasks. All of this can add up to big wins for a business.
You can automate virtually anything these days, from marketing processes like email and social media, to administrative tasks, workflow processes, reporting and much more.
2. Remote work and access
Part of the appeal of technology, particularly cloud computing, is the access to data, files and tools from pretty much anywhere. As we’re all busy working from home more, or at the very least, remotely from the office, having an efficient and secure cloud computing platform is essential.
Not only is it convenient, but this flexibility will help keep your team engaged and more productive.
Cost wise, you may find you actually need less office space than before, saving you money each year. Interestingly, cloud computing also saves money because it utilises large, readily available platforms designed specifically for business. You can tailor your platforms to your business, and use only what you need.
3. Going paperless
Not only is going paperless great for the environment, it’s also going to save time and money in your business. Electronic record keeping, workflow management and administration is so efficient, allowing you to search and process faster, and of course, access documents online from where ever you are. You’ll spend less on consumables like paper, ink and printing, and you won’t need as much storage for all those records. It’s also helpful for teams, as online documents can be accessed as needed by different staff members.
4. More visibility of profitability
This one is our personal favourite. Sometimes overlooked as a clear advantage of the right tech, having access to all your numbers, when and where you need it, helps you make better business decisions.
We all know that “time is money”, so being able to clearly see how much time is spent on a project, understanding the numbers in your business, or even simply saving your own time on reporting can all add up to increased profitability.
5. Reduce your equipment, but increase business value
There’s no question that technology implemented correctly will be a major business asset, delivering value to the bottom line for years to come.
By investing in technology, you’ll not only save on basic items like paper and printing, but reduce the filing cabinets, printers and other tools you and your team need to work efficiently. Not to mention the office space all of this equipment requires. So much can now be done on a smartphone from the palm of your hand.
Technology not only saves money, but adds value to your business. Whether you aim to sell your business down the track, or simply want the benefit of lower overheads and increased efficiency, implementing a tech stack delivers real value now and into the future.
Of course running a business costs money. That’s just a fact. But with the right technology, you can maximise your efficiency, save time and cut costs. Helpfully, you can build your tech stack over time, by implementing systems that integrate and add-on to each other, spreading out any up-front costs.