It can be comfortable sticking to what you know about business, but it’s a fact that you could be cutting costs on traditional practices using inventive software and online solutions, many of which provide cheaper and easier alternatives to many aspects of running a business. There are many benefits to switching from a traditional business service platform to an online or cloud based one. One of the main advantages is constant connectivity, which facilitates collaboration between employees and executives, as well as secure access to important information from anywhere you have an internet connection.
These inventive professional packages are some of the best ways to cut costs and boost productivity in the workplace.
Cloud Accounting
Cloud based accounting is perfect for constant and up-to-date information on company capital, providing simplified processes for managing money and it’s available anywhere.Traditional accounting software is usually expensive and convoluted to use. Cloud accounting is highly streamlined and provides a cost-effective way of managing reports and detailing key accounting information with ease.
Accounts information is highly sensitive, and keeping them stored securely online is a very safe option for protection against theft. With cloud accounting, time that is traditionally spent managing and compiling minute account information can be reduced drastically, meaning company time can be spent much more effectively.
Performance Management Software
The best way to ensure overall effectiveness in a workplace is through corporate performance management software, a programme that monitors workforce effectiveness across tasks at both an individual and collective level. Insights into which employees are better suited for which tasks can improve quality of work and help structure a business for optimal performance.
Gaining insights into employee effectiveness ultimately benefits businesses, allowing for long-term strategic planning of tasks and future job roles. Effective workforce planning is also one of the best ways to cut costs at a business level, by streamlining processes and making it easier to plan future business endeavours.
Internet Based Communications Software
Moving away from a phone- based environment into internet based calls can reduce many communications costs, incorporating calling capabilities into employee’s computers. A ‘softphone’ combines both voice and video calls with instant messaging software, and can also be registered as a regular landline to your local area code, so clients don’t know they are contacting you on a software programme.
Computer based phone software cuts out having to invest in traditional office phone systems, which are expensive to maintain and limited in features. Softphones also come readily available with international communications capabilities at no added calling costs.
Credit Card Processing
Currently, small and medium sized businesses pay premium rates to process credit card transactions. Finding a suitable internet merchant service for your business or eCommerce platform can reduce these costs by up to 40% compared to regular rates. By switching card processing providers, you can find the absolute best rates for accepting online payments which is crucial to the survival of an online based platform.
Processing these payments yourself using PayPal is suitable when you’re starting out, but as you grow this will no longer be viable. Finding an appropriate replacement will ultimately save your business money and time on services that could be completed automatically for much less.
Do Your Research
There are hundreds of business types out there, so it’s hard to get into specifics. Doing your research will develop your ideas further, and help you ascertain what aspects of your business could be better accomplished through new technological solutions. Please leave a comment with any advice you may have!
