When you run a business, one of the biggest questions that comes into every decision is how can I save money? By keeping outgoings to a minimum, you increase your profit and the bigger the profit, the more successful the business.
Over the past ten years or so, technology has taken huge leaps forward in terms of what it can do and the effectiveness with which it does it. With systems like HR and payroll now moving to online software, it makes life a lot easier for all business. This is especially great news for small business owners, who can now use these advancements to drive down the cost of running their companies.
Here are three ways which technology can help your small business save money.
Cloud technology
The cloud is a relatively new concept, but already businesses are seeing huge advantages from using it – especially when it comes to cost-cutting. By storing files and documents remotely rather than on a hard copy, you can save hundreds of pounds on the printing costs that come through expensive paper and ink.
You are also reducing space taken up for storing those documents as well as making it easier for your employees to work. Rather than having to search through filing cabinets for paper copies, they can simply pull a document out of the cloud with a five-second search.
Cloud computing opens up the opportunity for employees to work remotely. If adverse weather or a child being ill means they can’t come into the office, they can fire up their laptop and work from home, meaning that you don’t lose productivity.
On the surface of it, cloud computing can seem complicated, but there are plenty of specialist IT companies out there who can provide this service. It’s certainly something worth considering.
Online advertising
It’s not exactly a secret that local news is dying. Newspaper circulation is dwindling across the world as more and more people spend their time online rather than looking through an actual, physical newspaper.
That has an impact on the effectiveness of traditional methods of advertising. Are you getting your money’s worth when taking out a costly advertisement in the local paper which a relatively small number of people are going to see?
That is why online advertising is the way to go. Firstly, it is often cheaper than traditional advertising. Secondly, its reach is massive. Take Facebook for example; Facebook has 2.32 billion monthly active users across the world, an astonishing figure. By taking your advertising strategy online, you are suddenly open to a global audience far more than the handful of people reading the local newspaper.
With online advertising, you’ll be paying less money to reach more people.
Revisit your phone service
Not even the humble telephone is immune to technology. Your business might have used a trusted landline since the year dot, but how much does that cost? Phone technology is constantly evolving, so you might be able to find a less expensive service that meets your business’ needs.
Take Voice over IP for example. This technology allows you to make calls using your internet connection, reducing the need for a costly landline and even improving the quality of your business dealings conducted over the phone.
