A businesses finances can often have more wasted leaks than a leaky faucet. It’s impossible to optimize business and its processes correctly. In the age of digitalization, this problem is only growing. However, we’ve taken a look at just a few ways you can save money for your business using technology.
1. Reduce Licenses
If your company has to work with programs, you could be paying for licenses you no longer need. Check with each employee to see when, where, and for how long they are using these licenses each month. If you find out that you have four and only three people are using them, that’s instant savings.
2. Allow Remote Work
Your company can save $10,000 per employee per year. How you may ask? Though allowing for remote work. Recent studies have shown that a single full-time remote worker can save your company $10,000 per year. Translating this, letting all of your employees work remote just a few days a month will result in a significant saving for your business.
3. Check Your Plans
Much like the licenses tip, this involves making sure that you aren’t getting more than you need. For example, if you use Trello for project management, the free version might do enough for your small business. Don’t let yourself pay for the premium version when you could be saving that money each month!
4. Change your Bulbs
A quick way to save money in your business is to change your lightbulbs. Compact fluorescent lights are nothing new, but they last longer and cost less than most lights still in offices. Added to this, don’t leave your lights on all the time. In your home, you turn off the light when you are not in a room. Do the same thing at your work and see the savings roll in.
5. Calm the Thermometer
Everyone jokes about the thermometer in the workplace. However, just like in your home, this is is a place where you can save money. If you can, invest in a smart thermometer. This will give you the availability to create settings for when people are in and out. If your office is closed, why are you still heating the building? Over the weekend, have the air torn down just a bit and set it to cool back off hours before the office opens.
6. Check Your Landline
If you are still using a landline for your business, you might be wasting money. VoIP or Voice over internet protocol is cheaper and uses the internet. Which you already have! Best of all, it’s scalable so that you can grow your business without worry!
7. Automation is Key
If you have to do something each week at the same time, it’s time to see if that task can be automated. If customers have to call to schedule an appointment, you are losing that time to talking to them. Instead, let them schedule appointments online and free up yourself to do other tasks while you wait on your new clients to show up.
8. Use Free Marketing Tools
As a business, you have to market your services. There are plenty of ways to reduce the budget of your marketing by starting with free tools and growing from there. No longer are your only options TV, Radio, and print. Now you can use social media for free to advertise your product. Now, you can grow and spend more when it’s time!
The technology age has brought about the ability to collaborate with people from around the world. Now when you look to update your logo and website, you can trade services with someone looking for what you have. This allows for money free exchange. However, you need to be sure that the trade is equal in time; that way you are spending more time and effort than they are.
If you run a business, you need to stay ahead. This is usually done by trying new things and running marketing campaigns. However, another great way to evolve your business is to invest in free training. Free training can help you see where you have been making mistakes and where you can make more money and do better.