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The Best Use of Technology in Running Your Small Business

Use of Technology in Running Your Small Business

Small businesses often encounter so many infrastructural problems early on that merely staying afloat becomes a daunting task, let alone worrying about growth. However, the more efficient you are at handling your business’s core tasks, the lower your overhead is and the more reliable your business practices are, the greater the odds you have at pulling it off. In turn, this brings your break-even point much closer, which means that it gives you much better odds for survival. The best thing is that all of the above-mentioned can be achieved through technology.

Mobile Devices For A Digital Office

Even if you have a real-life office and are the most devoted of managers/employees, you simply won’t be able to spend your entire day there. This is where mobile devices like smartphones and tablets come in, allowing you to oversee your operations even from home. Sure, there’s a reason why people don’t work 24/7, yet, accessing your company’s collaboration tool from your smartphone definitely beats the idea of being forced to return to the office. Finally, with a reliable remote access software tool, you might even be able to handle some of the more complex tasks or IT issues, while away.

Automating Your Payment System

The next thing you need to understand is that you can save a considerable amount of money by paying your bills online. Apart from handling this in a more frugal way, you don’t even have to distract someone from their daily tasks, seeing as how this can be handled in several seconds. On the other hand, you also get the benefit of automating payments you receive.

Sending invoices is an efficient way to get paid in the digital environment, yet, it’s merely the tip of the iceberg of all the possibilities that you have open. It’s much easier to find a way to make a subscription-based system and, therefore, reduce the probability of human error or missing out on an important payment (due to the other party’s negligence), just when you need it the most.

Use of Technology in Small Business

Online Registration To Reduce Costs

When starting a company, you will find that the costs surrounding the registration process, as well as the paperwork itself, are not something to be trifled with. This last part is something that easily slips people’s mind, seeing as how a lot of people fail to realize that their time has value measurable in hard currency. This is especially easy for entrepreneurs to forget since, unlike regular employees, they don’t have a fixed hourly wage. Therefore, finding a way to set up a company online may save you more money than you initially thought. Not to mention that, in this way, the registration process also becomes more stress-free.

Using A Fleet Management System

Another thing worth keeping in mind is that the efficiency of a certain function or task within your office may be in a direct correlation with the efficiency of the software/business practices you use. For instance, if you’re handling your delivery in-house, have your own corporate vehicle and employ a freelance delivery person, you might want to think about using a fleet management system. One thing worth mentioning here is the fact that even a single-vehicle-fleet may benefit from a management system, especially since it doesn’t really require you to hire a full-time fleet manager.

BYOD

One of the latest hot trends in the modern business world is the so-called BYOD (bring your own device). What it means is that your employees are required to bring their own devices (laptops, tablets and smartphones) to work, where they can enjoy the privilege of using premium software that the company will pay the license for. On the other hand, it doesn’t mean that you are completely free of any financial obligations that come with it. The issues of insurance and risks need to be weighed, as well. Yet, most employers (even educational facilities) see a massive potential ROI in this practice.

While this may sound a bit controversial, the truth is that it yields incredible results. It’s not just a massive equipment-wise saving for your company seeing as how working on their own devices allows people to achieve maximum productivity. Furthermore, by bringing their devices home with them, they also get to enjoy the privilege we’ve discussed in the first section of this post.

Communication Cost Reduction

Even though you can’t just cancel your phone plan (after all, as a business, you’re still expected to have this channel of communication open), you don’t have to go with something extravagant, when there are so many free communication tools out there. For instance, email communication is still a preferred B2B mean of communication and, in some cases, even using IM software, like your private Viber, Facebook Messenger or Skype aren’t considered inappropriate. Furthermore, some tools (even free ones) are specialized in conference calls, which makes your offshore collaboration much, much simpler.

Conclusion

As an entrepreneur, there are no safeguards installed which ensure you have a fighting chance – you’re on your own. It’s up to you to find practices that lead to progress and prosperity and avoid (even reject) those that set you back. More often than not, the salvation can be found in technology.

 

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