Save Your Business Money: “Information technology is at the core of how you do your business and how your business model itself evolves.” — Satya Nadella, CEO, Microsoft.
As Microsoft CEO, Nadella might be specifically referring to technology relevant to the IT industry. Yet there’s little doubt that all types of companies can leverage technology to achieve their business goals, including saving money.
It takes more than an excellent product or a super useful service to run a business profitably. As a business owner, you must be tuned to the existing and trending technologies that allow you to preserve your funds without cutting corners.
In this digital age, technology is synonymous with efficiency, and efficiency, in turn, with saving money. Whether these money-saving technologies have been around for a long time or are just emerging, companies that use them innovatively will prosper. This article looks at some of the technologies that can help your business hang onto its cash.
Table of Contents
Smart Wi-Fi Solutions
These days, few companies can get by without a secure, rock-solid Wi-Fi connection. Whether you’re a marketing agency or a car repair shop, if employees lack internet access, they may as well quit for the day. To avoid costly downtime, try a small business Wi-Fi solution. Using AI and machine learning, these solutions can learn your business’s usage patterns and automatically deliver signal strength wherever you need it.
While keeping your employees from sitting idle (or working at reduced capacity) is a clear money-saving benefit of smart Wi-Fi, it’s not the only one. Because your Wi-Fi coverage is monitoring itself and making needed adjustments automatically, that means you don’t need an IT person to do it. If you have such a person on your team, they can work on higher-value priorities instead. If you don’t, you won’t need to hire one!
Scheduling Tools for Social Media Posts
It’s hard to overstate the importance of social media to businesses of all shapes and sizes. These channels are becoming your customers’ favorite places to hang out, so it’s imperative that you connect with them there regularly and effectively. Unfortunately, social media management can be a huge hassle and a time drain. You can take two minutes to check on your accounts and only escape from them an hour later.
The best way to beat the problem is to use social media scheduling tools. You create the content, and these tools schedule and post it automatically. Your customers and followers see your posts at the dates and times you want them to. The best part is, this work gets done without you having to divert your attention from your own tasks.
This essentially means you will not be distracted anymore. You can develop these posts well in advance of scheduled events, and the platform will send out your promotions just when they’re needed. You can grow your social media impact and presence without spending time or money hiring staff for this important task.
Document Data Extraction
Perhaps your real estate firm needs to keep track of local home sales figures, or your marketing agency needs property tax data to segment audiences. Whatever the industry, it is not uncommon to find businesses transcribing data manually and entering it into a system of record. Businesses can save money by using tools to extract such data and process it.
Document data extraction helps businesses process data automatically by transcribing data digitally. It can save your business countless hours of employee time and quite a tidy sum into the bargain. The best document data extraction tools allow easy scanning and transcription of data. It is done in an accurate manner, without the risk of human error, thus improving data validation.
These tools are especially helpful while handling unstructured documents. Another benefit is that they give you the ability to store and share data as needed. The processed data can be shared with multiple systems and integrated with existing data sets effortlessly.
Businesses long ago realized the benefits of digital data storage. Gone are the rooms full of filing cabinets, the reams of paper, and the personnel to maintain them. Data stored digitally is compact and easy to search, share, and back up. Yet for all the costs digital data storage saved, it created others. Companies had to buy servers, pay for space to house them, and hire people to maintain and periodically upgrade them.
Transferring data — and applications — to the cloud is a simple but brilliant long-term cost-cutting measure. No longer will you need to buy new hardware to house your data or run the software you need. You pay only for the data storage and computing power you use, and your vendor takes care of all upgrades. Best of all, you get the security pros at AWS, Microsoft Azure, Google Cloud, or another vendor keeping tabs on cyberthreats. You can avoid both costly data breaches and the need to hire pricey cybersecurity experts of your own.
There are multiple ways of incorporating cost-effective technologies in your business. Doing so can promote the steady growth of your business while helping you save money. By introducing such technologies, you have little to lose and lots to gain.
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