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When people see talk of investing in technology, there is the fear that you have to spend money. For smaller businesses this is something that needs to be considered especially carefully, with each budgetary decision potentially affecting growth during the start-up phase. However, what you may not realise is that technology can actually save your company money.

Cut out the commute

This can save both you and your employees money. Going to the office can involve a lot of costs- whether you are using a car or public transport, stopping off for a coffee, getting lunch etc. If an employee can work remotely this will cut out a lot of these expenses.

Another example of this is with communication. Video conferencing can reduce the need for in person meetings, removing the need to book office space, hotels for people coming from outside the local area and so forth.

For businesses if people can work remotely it means reducing your office space. Furthermore, with the range of mobile devices that are available it allows for more flexible working, providing benefits for both of you and the people working for you.

Upgraded technology saves time

If you have more efficient technology, then you reduce wasted time (the old cliché about time being money is very true in this instance.) This also applies to aspects such as payment processing- if you can get more payments processed in the day then you will make more money.

Online advertising is more cost effective

It is important to emphasise that broadcasting and print media can be effective and should not be removed entirely. However, online advertising can save you money.

Aside from being able to use social media for free updates, video platforms to engage with your audience, there is also the paid advertising that can be specifically tailored for your particular demographic.

Reduce the amount of equipment you need

In recent times, technology has improved, making devices cheaper and more accessible. Increasingly, devices such as smart phones and tablets have removed the need for a lot of other items of equipment.

Another example, cloud technology could potentially remove the need for physical servers in your premises. Reducing the physical space that your business needs can reduce your expenses, while not compromising on how your data is handled and maintaining efficiency.

Improve your knowledge

The great thing about the internet is that there is a world of knowledge that is easily accessible. Online courses can allow you to develop in a way that would not have been possible before, something that can be relatively inexpensive compared to seminars, in person courses or university degrees.

Indeed, there are plenty of how to videos on video platforms that can help you develop your skills and solve issues that could save you spending on calling out professionals.

We can help

At Streamsoft we can create bespoke software packages and mobile applications, specifically designed to help you get more from your business. To find out more about what we can do for you please contact us today.