6 Ways Technology Can Save Your Business Money | How Technology can save Your Business Money?

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six ways technology can save your

business money

when you run a business you do all that

you can to save as much money as

possible

doing everything from reusing equipment

to switching out the light bulbs in your

office will help you save money here and

there but it may not always be as much

as you would like or need

there are quite a few other ways that

you can save money as well including

whittling down your staff raising your

prices or otherwise pinching pennies so

to speak in an effort to save as much as

possible however the effort isn't always

worth the results and it can sometimes

cause your business more harm than good

there are a few ways that you can

effectively save money and improve your

business though

one take advantage of automation

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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

2. technology reduces the amount of

paper you use

when you run a business there's a lot

you have to document

even just a couple of decades ago that

meant printing everything out on paper

and storing it in filing cabinets or

distributing it to the desks of

co-workers and employees

even now some businesses still use a lot

more paper than is necessary

with tech like email in the cloud paper

is almost obsolete and it could be

costing you more than you think

for example if you still use and accept

paper checks not only are you using

paper unnecessarily but you could be

costing both yourself and clients

hundreds of dollars a year you can

calculate the cost of processing paper

checks to see for yourself

the technology available makes it

possible to stop using so much paper and

help you reduce your costs in the

process

your business can benefit greatly from

going paperless as it makes it much

quicker and easier to search through

electronic records for the information

you need

it will also save you money on office

supplies filing systems paper and ink

cartridges

going paperless is also more

environmentally friendly which can give

you the edge over other companies when

it comes to customer loyalty

3. utilize online advertising

online advertising has opened up a whole

new world for marketers unlike

traditional advertising online

advertising allows you to target the

exact audience you want to reach and you

can track how well your plan is working

additionally online advertising is

cheaper than traditional advertising for

example for every 1000 people you want

to reach you must spend 57 on direct

mail 28 on broadcast television and

sixteen dollars on print advertising but

just two dollars and fifty cents on

social media advertising

by taking the time to use free social

media platforms to market your business

such as facebook twitter and instagram

you can save money on advertising costs

using social media also enables you to

implement automated scheduling into your

marketing efforts through areas such as

email responses and blog posting

this can help better organize your

business

social media is also an excellent way to

reach a broad demographic of customers

build brand loyalty and get your company

recognized

four consider telecommuting

consider the cost commuting adds to the

environment and your company workers

spend hours driving to and from their

job and their vehicles amid gases that

pollute the air and damage the ecosystem

at the same time your company must spend

money acquiring facilities large enough

to house work areas for every team

member

utility bills and taxes add even more to

the cost of maintaining this traditional

employment model

what you can do instead is use

telecommuting to cut costs and improve

employee satisfaction

employees working from home reclaim the

time formally spent on their commute and

reduce their environmental impact

rather than use company space they use

their home office or alternate location

as a work area

as a result your firm requires less

space which means lower rent and utility

expenses

with collaboration and conferencing

technology improvements it's now easier

than ever to give your employees the

option to telecommute

if you're worried about employees

slacking off if they work from home you

shouldn't be

one stanford study showed that call

center employees had a 13 increase in

productivity when they worked from home

it can also save your business money

between rent utilities supplies and more

costs businesses can save an estimated

eleven thousand dollars every year for

each employee who telecommutes

five connect with smartphones

phone providers are constantly improving

their products and services

therefore if it is possible to find a

less expensive service to meet your

business needs this can be a great

saving

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

post systems can be installed on your

phone

mobile payment systems have become

increasingly popular over the years as

the technology has improved and

businesses have realized the cost saving

opportunities

while processing fees aren't completely

absent in mobile payment systems some

providers can help you avoid the up to

three percent swipe fees you get charged

on traditional payment systems

currently eighty percent of young adults

and sixty percent of their parents have

smartphones and almost 30 percent of

shoppers would rather use their phones

over their wallets when they shop

6. technology makes researching easy

the internet has opened up a wide range

of opportunities for the small business

owner

there are online courses to take

advantage of when you'd like to invest

in personal development

search engines have made it possible to

research almost any subject you can

think of

all the information you need to help you

run a business efficiently is there at

the end of your fingertips

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