How to Save Money by Using Technology in Business

Most business owners are aware that purchasing technology for their company can be an expensive investment, but researching the very best methods to slowly transform your business from entirely manual to 100% technological could save you a significant amount of cash in the long-term. With new innovations and advancements happening constantly, it’s easy to see how entrepreneurs are making huge savings through the correct uses of technology.

If you’re wondering how you can save money as an entrepreneur by investing in different forms of technology, here are some of the key factors that may give you some further insight into how and why it could benefit you.

Paper isn’t necessary

The use of technology will reduce the amount of paper your business needs to carry out day-to-day tasks productively. Documents which would usually be printed off and passed around the office can now be accessed on online platforms such as the Cloud for the viewing of all staff members in any department. If, however, you do need to print in paper format, the invention of the duplex printer allows you to print on both sides of the page, so your paper bills are cut in half.

VoIP instead of traditional landline calls

If your business is reliant on landline telephone calls to talk to clients or for calling leads, then one of the best ways to reduce your phone bills is to use VoIP (Voice Over Internet Protocol). VoIP can be accessed on platforms such as Skype, Comcast, and Vonage, which provide a phone-calling service both in the traditional form and as a video-call. While you may notice your phone bills have been reduced as a result of this move, you also need to take into consideration how much you’re paying on electric bills to get the full benefit of the saving. Check out these commercial electricity prices to get the very best deal.

Getting rid of physical offices

While many businesses need offices to accommodate their staff, it is becoming more common to hire remote workers to avoid paying out huge expenses on rent. A few decades ago, this could never have been achieved due to the lack of technology, but now businesses can hire workers regardless of their location with the ease of communication worldwide, as well as being able to monitor their activity through online databases. It means that businesses can cut down on steep office costs and go completely virtual.

Advertising online

In the past, companies relied on newspaper advertisements and flyers in the hope that customers may show a hint of interest. In terms of budgeting, this would be considered far too risky in the current age, with what we know now about efficient marketing. Advertising on the internet is much more cost-effective and can be targeted to specific groups of people, rather than just anyone who happens to come across the advert. Due to this, marketing costs can be slashed, while efforts are focused on the most likely customers.



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