5 Ways Your Business Can Save Money with Technology

As much as we may try to deny it, money makes the world go round. The primary aim of just about any business is to make as much as possible. Technology is helping to achieve this goal in many ways and plays a pivotal role in saving as well as making money.

There’s an abundance of electronic devices, services and machines out there, many produced with the aim of helping companies go further. How can you use these to reduce your outgoings, though?

1. Rethink the Smartphone

It’s hardly going to come as a surprise that a lot of people now own and know how to operate a smartphone. Having the ability to always be in touch is great, but it’s hardly anything revolutionary. It’s how you think specific to your company that counts.

Social media platforms are great, but you already know this. Instead, think about how your processes can be streamlined from the palm of your hand. Everything from automation and document scanning to cloud storage and mobile POS systems can be installed on your phone.

Let’s say for example that you run a shop. Whilst out and about, you can use a POS to accept card payments, helping your business stay portable. You’ll be able to conduct transactions anywhere without the hassle of asking a customer to visit the store and going from there.

2. Assess Your Broadband

As prevalent as the Internet is in today’s modern society, there are still those people who sometimes struggle with speeds. Major plans and movements toward a faster connection for everybody are always in place, but businesses could be missing out in the meantime.

On average, an office worker will visit more than 100 online pages each day. If you were to upgrade to a broadband connection offering a faster speed of 4 seconds per page, each worker would save around 10 minutes a day.

This may not sound too significant on the surface, but it’s almost an hour a week. That time can be geared towards more pressing matters for the company, including money-making activities. What’s more, the more staff, the more time, and in turn money, you can save and make.

3. Evaluate Your Landline

The landline telephone has served many companies well down the years. Before the days of emails and portable phones, it was more or less unchallenged as the number one communication tool. It hasn’t lost its status as an important part of the office but is now beginning to be replaced by Voice over Internet Protocol, also known as VoIP.

VoIP works by making and receiving phone calls over your internet connection. The best thing about that is you’ve probably already paid for that connection, too. Just the initial cost of the hardware and software is required, with immediate reductions in bills coming upon installation.

The system is fully scalable to boot. If you need a bigger one further down the line, it’s easily doable, making it perfect for the right now and the future.

4. Take Advantage of Automation

As the adage goes, “time is money.” Every wasted minute that passes by is a lost financial opportunity. That’s not to say that it can be helped all of the time. A lot of tasks around the office need to be done without the prospect of helping your bottom line. The problem is you’ll be paying staff to carry out these activities, when they could be dealing with more pressing matters.

This is where automation can really shine. By scheduling automatic performing of, let’s say, slightly menial exercises, your staff will be free to apply their time to priority duties, giving you more for your money at the same time.

Everything from social media posts and computer backups to mail and proofreading can be automated, freeing up time and saving money.

5. Shop Around

There is no uniform provider for any given technology solution. There may be thousands of LegalZoom reviews out there but that may not mean it’s right for you. This is good news for your business as there’s going to be a queue of suppliers wanting to take your money in exchange for their services.

You can use this to your advantage. Most companies are keen to undercut each other in order to secure your custom, driving down the price and ultimately letting you part with less money. Don’t be afraid to tell them what others have offered – they may try to beat it.

One word of warning – don’t lie. Remember that these are the experts and know what their services are worth. They’ll be able to see right through and won’t play your games. You might also end up with no quotes at all as you’ve tried to bargain too hard. It’s a sensitive subject but one that works in your favor if done properly.

Into the Future

If your business could do with tightening the purse strings, these could be the ideal places to start. They don’t take too much effort, either.

With a few tweaks here and there, your company could be saving money you never thought possible. In the end, isn’t that what we’re all after?

Lauren McDonough is a Mobile Provisioning Executive at iData, specialists in business technology. The company provides services to help businesses find better communications and save money whilst doing so.

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