Investing in technology might feel like a huge risk for small Canadian businesses with limited profits, but the alternative is far riskier. Not having the right technology can cause your organization to fall behind competitors and lose operational efficiency, and open up your systems to a wide range of cybersecurity threats.
In today’s business environment, you simply cannot afford not to incorporate tech solutions in your day-to-day operations. The good thing is that when done strategically, IT investments do pay off, and implementing the right tech solutions saves costs in the long run. Here are key areas where IT can help reduce operational costs:
When done strategically, IT investments do pay off, and implementing the right tech solutions saves costs in the long run.
Automation speeds up mundane, repetitive tasks like inputting customer data, generating invoices, or sending email reminders. This not only reduces labor costs spent on low-level tasks, but it also allows your staff to focus on more important projects that require higher-order thinking skills.
What’s more, being able to finish processes more efficiently and accurately leads to quick response times. This means less time wasted on putting customers on hold, fewer delays caused by incorrect information, and overall less inconvenience — all of which translates to more time. And as the cliché goes, “Time is money.”
Technology makes it easier to search, retrieve, and analyze information, which is especially critical when you have a chock-full of tasks every day. Manually keeping track of information may lead to problems that can disrupt the smooth flow of operations. For instance, your staff can lose track of document changes, miss payments, or forget to get back to a customer.
By contrast, leveraging solutions like project management software makes it a breeze for employees to review processes, spot discrepancies, and fix errors. Many types of this software have built-in reporting features that enable teams to track timelines or account finances; some are even equipped to notify users if there are errors, such as if numbers are not adding up correctly. In more ways than one, you can save time and money by efficiently managing information and catching problems early on.
The right tech can open the door to clearer and more frequent client interaction. You can utilize automated assistants that can respond immediately to customers’ most commonly asked questions 24/7, which ultimately can improve client satisfaction, strengthen loyalty, or increase sales.
Setting up client portals is also a good way to build an interactive customer network and gather pertinent feedback on your products or services. In a client portal, customers can create their own accounts and join discussion boards to pose questions or concerns about your service offerings. You can then analyze these posts to discover what your customers like or dislike about your business, which is more financially sound than conducting large-scale research on the matter.
What’s more, you can take advantage of some free marketing solutions on social media sites to generate interest in your business. For starters, you can use Facebook marketing tools for small businesses to boost customer engagement or improve sales.
One of the most evident benefits of investing in technology is increased mobility. This helps your business become more agile, which is especially important in today’s workplace environment as remote working arrangements become part of the new normal. Hybridity is the future of businesses, so if you don’t invest in technologies that make your organization more mobile, you risk getting left behind and losing revenue.
IT can also help you save on travel expenses and time. The cloud is a great way to access data from anywhere with an internet connection. If you forget to download a file at the office and have to work remotely the next day, you can access what you need right at home. Meanwhile, Voice over Internet Protocol (VoIP) systems allow your team to hold unlimited virtual conferences, vendor meetings, and customer calls at a fraction of the cost of traditional phone systems.
IT exists to solve problems of any kind — and that includes operational issues, financial challenges, or both. XBASE offers Exponentially Better™ services that allow you to implement effective solutions for quicker turnaround times, higher client satisfaction, and more savings down the road. Drop us a line or call us at 800-XBASE-03 (toll-free).