3 Ways Technology Can Improve Your Small Business

3 Ways Technology Can Improve Your Small Business

We’re about a month into the New Year and while many people have put their resolutions into effect, some are still planning theirs out. As a small business owner, you’re probably wearing many hats, but this does not mean the goals you set to help your business grow have to take a backseat.

Take technology, for example. There are many technology-based adjustments you can make within your business that don’t require a huge time commitment, and coincidentally, these updates may even help you save time! Below, we’re sharing three ways incorporating some of the latest technology can help get your business up to speed and put you on track to crush your goals this coming year.

Increase Productivity

Many times, within an organization, people are unsure of how to properly allocate resources. This often causes a decrease in productivity and if you’re a small business owner, you know time is money. Utilizing time tracking software is an excellent tool to utilize in order to map out where time is spent and by whom. Along with software designed to track time, implementing project and task management tools can be helpful, especially if you’re the sole employee of your business. Whether you decide to use one or both of these pieces of technology, you’ll be able to make the best out of the resources available to you while saving your business both time and money.

Streamline Finances

Speaking of money, have you set up a business bank account yet? If not, the new year is the perfect time to make the switch. Keeping your personal finances separate from your business may sound like a hassle, but it will save you from a big headache. As your business grows, things can get tangled leaving you with a big mess. The new year is not only a great time to get this figured out, but also the perfect opportunity to switch to mobile banking for your small business.

There are so many great features that come along with going mobile, two of the most obvious being convenience and accessibility. Imagine having access to your finances anytime day or night simply by clicking a few buttons. No lines, no waiting, just control of your business’s money on your terms. Making the switch is simple and only requires a few moments of your time, and as a business owner, you know time is precious!

Foster Collaboration

As the owner of a small business, there will be occasions when you’ll wish you could be in many places at once. While it’s impossible to physically be in more than one location at a time, you can certainly spread yourself around virtually. Utilizing video chat or teleconference calls is a great way to collaborate with clients or members of your team when you can’t be in the same location. Not only does this save you time and allow you to work more productively, but it will also save you tons of money on travel. While this type of communication may not work for every situation, it can certainly fit the bill for meetings between employees as well as clients who you have established relationships with.

As a small business owner, implementing the latest technology can be quite beneficial for the growth and development of your business. Although it’s not likely you’ll be able to integrate all the technologies mentioned above at once, it’s important to do your research to determine which is most important for your business at this time. Be sure to educate yourself and your employees on the benefits of technology and in turn you’ll notice an increase in overall progression of your business.

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