Digital innovations present many advantages for businesses: they help optimize workflows and processes, saving valuable time and increasing productivity. But for small business owners, the price tag of such technologies sometimes gives them pause: are they really worth investing in, and what kind of benefits will they get in return? Here, Crestone Business Group takes a look at six technologies that are worth every penny.
Cloud Computing
Cloud computing allows small businesses to grow by storing data in the cloud instead of on a local server. Cloud computing is a cost-effective business solution as companies don’t have to invest in expensive infrastructure from the start. They also don’t need to have an IT team on-site to run their operations. On-demand software, or software as a service, allows you to always work with the latest version of a program, and all your team members can log on and have access to all the resources and files they need to perform their work.
Website Security
As internet hackers are constantly launching new digital attacks on unsuspecting companies, small business owners need to be proactive when it comes to network security and data protection. If your website gets infected with malware or ransomware, your clients’ and employees’ data could be at risk, and you could very well lose your business: the cost of recovery is very high, plus you’ll have lost the trust of your clientele in the process. So make sure you make cybersecurity a priority by performing routine assessments of all your systems and installing all the latest security updates and patches.
Accounting Software
When you own a small business, you often have to play many roles in your organization. Bookkeeping and accounting are time-consuming but necessary tasks that small business owners often have to deal with on their own. Thankfully, cloud-based invoicing software lets you import transactions and organize your finances automatically. Look for software that allows customers to make payments directly online so that you can get paid faster. You’ll receive real-time alerts when an invoice gets paid, and you’ll get reminders to let you know when bills are due so you never miss a payment.
Social Media
Social media marketing is a powerful tool to find new customers and retain existing ones. Advertising your business on social media channels is often cheaper than offline advertising, so it’s no wonder an increasing number of businesses are creating online campaigns to promote their brand. If you need help coming up with catchy slogans or messages for your ads, you can hire a social media manager to be in charge of your campaigns. But you can also DIY the process and use online tools like social media calendars and graphic design tools to create and deliver your messages.
Customer Relationship Management Software
A good CRM solution is a time-saver for small business owners. Your CRM platform helps you manage all your business’s interactions with existing and prospective clients. By keeping all that data in one place, you’re able to eliminate redundant entries, duplicates, and the potential for typos and errors. All the information is updated in real-time, and if you work with partners or team members, you can all access the same files and documents, making your company more efficient and ensuring better customer satisfaction and retention.
Integrate Robotics into Production
Robots get a bad wrap in business. The truth is that adding robotics to your business doesn’t necessarily mean reducing artisan work or even cutting jobs. It means increasing consistency and efficiency in your business practices. If you see ways that robotic automation could help you provide a quality product to your customers in a way that is more efficient for your business, it’s an opportunity you should explore. Look into contracting with robotics companies to get a better sense of what they can bring to the table. And it’s important to ensure that their cost is justified and offset by the savings – and potential increased sales – that will result from adding automation to your processes. You may be surprised by what you discover.
With so many digital innovations available for small businesses, taking the time to evaluate your needs before you invest in anything new is crucial. Look for great customer support as well, which will help you overcome possible issues after implementation. And reap the benefits of your new technologies in your day-to-day operations.
If you’re looking to sell a business in order to start a new venture, contact the brokers at Crestone Business Group. We are experienced in helping business owners sell at top dollar. Visit us online to learn more and set up a consultation.
The Crestone Business Group is a full service business brokerage firm. This Colorado premier business advisory has helped sell dozens of businesses over the past 13 years for the highest price that the market would bring. Crestone Business Group is supported by the best brokers today. Call or text (719) 330-4715.
Credit for this Blog:
Corinne Hammond
Bebizminded.com
chammond@bebizminded.com
Photo Credit: Mart Production via Pexels
