[This article was written by Dawn Castell.]
Of course, every entrepreneur is out there to make the most out of their ventures. Fortunately, new technology will always pop up to help businesspersons achieve their goals. Any entrepreneur looking for techniques to improve the efficiency of their investments and save money should consider either of these options.
Utilization of electronic receipts is not only eco-friendly, convenient, and simple, but can also help an enterprise to increase its savings. Switching over to digital invoices can help a business cut out the need for printers and paperwork. Though the cost of printed invoices may seem manageable, it can pile up over time. The coveted email address is the other reason every entrepreneur is considering switching to digital invoices. Electronic receipts allow an entrepreneur to obtain email addresses of any prospect that they think might be interested in their services or products.
Over time, conferencing and collaboration technologies have created more telecommuting options than ever. With the use of HRIS technologies, there is no need for HR department to worry about workers that work from home slacking off. Recent research has revealed that call center staffs tend to be more productive when allowed to work from home instead of their offices. Apart from reducing the cost of supplies and utilities, telecommuting can help an enterprise save a few dollars annually for every worker who telecommutes.
As technology continues to evolve, mobile payment options have increasingly become popular, and enterprises have realized its cost-saving opportunities. Though users of mobile payment systems might incur swipe fees, some mobile payment providers can help an enterprise to save up to 3 percent of the processing fee charged on convention payment options. After all, 80 percent of the millennial and 60 percent of their parents would prefer to transact with their smartphones over their wallets when shopping.
Whether it is a customer service phone system or employee phones, enterprises all over the world have a lot of telecommunications needs. However, any entrepreneur that looks at their telecommunication systems as individual pieces instead of a connected system could be missing out on a lot of savings opportunities. Instead, entrepreneurs should look at their telecom systems and streamline the involved processes, maximize resource utilization, and identify inefficiencies. That not only makes an enterprise more efficient than before but also increases its savings and reduces expenses.
Utilize Online Advertising
The internet has opened up a new world for online advertisers. Unlike conventional marketing techniques, online marketing allows an entrepreneur to reach their target audience, and it has features that analysts can use to track down the success or failure of their strategies. Moreover, online marketing platforms are relatively cheaper than traditional marketing techniques. For example, for every 1,000 people that an enterprise wants to reach, it has to spend $16 on print, 28 on broadcast television, and $57 on direct mail, but only $3 on online advertising platforms such as Facebook and LinkedIn.
Virtualization technologies have come with highly capable web browsers and high-speed networks that businesses can access through the cloud. With virtualization technologies, an online enterprise can either take part of its apps or its entire IT infrastructure to the cloud. You can take advantage of cloud-based solutions to eliminate costs such as maintenance expenses and licensing fees. Work with a reliable IT service provider to help determine the best cloud solution for your business.
Digitizing a business comes with a lot of benefits including saving on supplies and postage fees. A paperless office will also increase efficiency and save a lot of time since digital files are faster to search and organize than paper ones. Ultimately, that will improve the productivity of the workers, and in turn create more savings opportunities. A paperless office also helps protect the environment, as workers are producing less garbage and using fewer paper receipts.