Leveraging Technology to Reduce Spend
In a world where technology is quickly becoming the overarching narrative as well as the underlying powerhouse behind every organization and institution, many companies are contemplating IT implementation into their everyday business operations. Technology has brought a myriad of improvements to the business world across the past couple of decades, providing automation en-masse, productivity boosters, expediting processes, and improving cross-collaboration and company-wide communication. The benefits cannot be overemphasized.
I highlighted that many companies are “contemplating” tech implementation within their business structures—why? Because they haven’t been convinced that implementation is worth the initial, sometimes costly investment. Today, I’m going to list off four tech concepts that will reduce your business costs daily, and hopefully convince you to take a step into a better tomorrow.
Cloud Storage
Once upon a time, businesses had to splash the cash on costly servers and the rooms to house them. Fortunately, an idea that originated in the 1960s, but was only implemented in 2006, has come to the rescue—the cloud. Modern businesses rely on a large amount of data and documentation to succeed and stay on top of the current markets, which can quickly fall into chaos if it isn’t maintained correctly. Fortunately, cloud computing has eradicated the need for traditional servers and maintenance methods by removing several processes. You no longer need to save data on hard drives, and you no longer need to be in the office to complete and save your work. It all fly’s up into the data space that is “the cloud.”
The cloud needs no maintenance from the business’ end, cutting traditional maintenance costs. Hosts tend to offer several services through their cloud that can alleviate workplace pressures and expedite previously arduous processes at the click of a button for a minimal, subscription-based fee.
Digitized Business
Digitization of business processes is, perhaps, the most obvious benefit of technology leverage to reduce overall costs and outgoings. There are many changes digitization brings to your company, so I’ll just dot down a couple. To start, you no longer need to fork out for paper, envelopes, ink, and printers now that businesses have access to email and instant-messaging systems, like Microsoft Office Outlook and Slack. The concept of paying big money for primetime ad-spots on television networks and radio is a thing of that past, as are billboards and newspaper advertising. They are replaced by the simple, more cost-effective, and far more viable option of social media and other Internet-based advertising platforms.
Digitization also allows businesses to shed their traditional skins, removing the necessity of office space and costly equipment, swapping it out for digital economies of freelance staff and Service as Subscription (SaaS) systems on which to work.
Automation
In the majority of businesses today, a ton of processes are automated. There are now various software as well as cobots, or collaborative robots, that share workspaces with human employees and alleviate the mundane, menial tasks from their workflow, removing the risk of human error while ensuring that staff remains engaged and content at work.
They may seem expensive to implement, but with automation being the concept of the future workplace, cobots will soon be the norm across all industries. Not only that, but they also provide an incredible return on investment in the long-run.
Customer Relationship Management (CRM) Systems
What’s the most important part of a successful organization’s story? Happy customers who want to purchase your products. Without that revenue, there isn’t anything left. CRM software helps you establish how to make each customer happy by storing and analyzing their data. The data analysis allows your company to satisfy every customer without having to do any personal work. CRM systems even pump out invoices and send marketing emails and other such comms in an automated manner. It lessons your workflow massively, decreasing the costs of staff and time.
If you’re looking to reduce the costs of your business operations, or you’re trying to figure out exactly what tech can do to help you, you should consider the listed benefits. Leveraging technology is the new norm across the majority of industries and, if you wish to remain competitive in your marketplace, you too will have to adopt the new systems and adapt to the new standards. It’s easy to see that technology both reduces costs and expedites processes while, in many cases, increases productivity and happiness within organizations.
