3 Types of Technology That Can Save Your Small Business Money

Running a small business can put you at a disadvantage when compared to much larger ones with deep pockets. To maximize your profit margins, you need to be resourceful and take advantage of the right tools.

Here are three types of technology that can level the playing field, at least a little, and save your small business a considerable amount of money.

1. Going paperless

Using traditional paper for storing files, invoices, and receipts is not only a detriment to the environment, but it can hurt your budget as well. In addition to the paper itself, you have to pay for ink cartridges and printer maintenance.

That’s why it’s so beneficial to minimize your use of paper or cut it out altogether. One way to do this is through electronic invoicing, in which you email everything to customers or clients.

Another tactic is to save customer information electronically on CRM software. An abundance of mobile apps can help you cut back your paper consumption and save money.

2. Cloud computing

More and more companies are making the transition to a cloud-based infrastructure because of the convenience, security, and financial advantages. If you’re using a data network center, the cost of equipment, space, and IT support alone can really add up.

You’re also responsible for upgrades and updates, which involve even more expenditures. Choosing a cloud provider is far more effective because it can handle everything for you, and technical support is always a call or click away.

Because information is exchanged over the Internet, this has an added level of convenience if you’re often on the go.

3. Transportation management

With the rising cost of gas, paying for the transportation of goods can often pose a problem for small businesses. This is especially true when your distribution centers aren’t locally based and require thousands of miles of travel.

Using a transportation management system is helpful because it gives you more control over every part of the process and eliminates any inefficiencies that are costing you money.

For example, you can determine which routes are the shortest and calculate the amount of fuel required for transport. You can also evaluate other details such as packaging and shipping speed to find the best possible deal. Over time, this can reduce your overall shipping costs and raise profitability.

 

Tags: Business, Cloud computing, Small business, Technical support

Category: Business