When you run your own business, you put a vast amount of time into making it a success. In fact, the majority of small business owners in the US say they work at least 50 hours per week - far more than the national average of 33.8 hours per week reported by the Bureau of Labour Statistics.
33 percent of small business owners reported working more than 50 hours a week, with an additional 25 percent of small business owners claiming they work more than 60 hours a week, according to a poll of readers of the New York Enterprise Report.
It doesn’t have to be this way.
In fact, by streamlining your organization’s operational processes through the use of modern office technologies and IT infrastructure, your company can save both time and money. The result? Your business will become more profitable, and your employees will get more done in less time.
So, what technologies can your business use to save time and money, while at the same time driving your company’s profitability? OT Group has listed some key technologies to consider implementing here:
Utilize cloud technology
Cloud computing - which refers to the use of software and platforms that are delivered through the internet rather than physical hardware - has boomed recently. In fact, data from Forbes suggests that 30 percent of all IT budgets were allocated to cloud computing in 2018. That number has only increased in the two years since.
Cloud technology offers your business benefits such as:
- Removing the need for expensive hardware and software maintenance and upgrades.
- Fast and frequent updates from cloud providers ensure your company has high-quality security and efficient software.
- Far more cost-effective than physical hardware.
- Improved flexibility and scalability for changes within your company.
- Better collaboration and productivity from employees.
Transition to a paperless system
Are you always struggling to find where you put important data, whether it’s about the performance of your company, the progress of an assignment or core business information? It’s far more efficient to store this data electronically than on paper.
By transitioning to a paperless system in which you use an electronic document management system to store and access important data, your company will be able to seamlessly, retrieve, manage, store and update important documents at a few clicks of your mouse.
Optimize new communication channels to contact remote workers and clients
Contingent workers now make up around 30 percent of the entire Canadian workforce, according to Randstad Canada, so there’s a high chance that your small business makes use of these skilled workers to some extent.
If so, it’s important that your company is able to connect with these workers. Staying connected with remote workers is a great way to ensure they are on the same wavelength in regards to what you are trying to achieve, and important for making sure the quality of their work is up to scratch.
Make the most of time tracking and collaboration platforms
Web-based tracking and collaboration tools have made it far easier for your business to manage tasks, track their progress, count the time spent on assignments and measure the success of projects.
When a task isn’t going to plan, these tools allow your business to proactively correct mistakes before it’s too late. That means not only does your team run efficiently and you’ll meet deadlines for clients, you’ll also produce higher-quality work.
Want to learn more about how any of these technologies could improve the efficiencies and profitability of your company, or simply want to know how OT Group can use its expertise to implement these technologies into your organization’s processes? Contact us today. We would love to talk to you about your IT strategy.
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