What's worse than wasting money? Wasting time. And as a small business, it's easy to fall into one or both of these traps. Technology is supposed to save businesses time, but making the wrong decisions about which solutions to implement could end up costing you in the long run.
This Small Business Week, take some time to reflect back on your business and discover where you can make changes to optimize your operations. Areas such as project management, billing and invoicing, time tracking and other back-end processes can be time-consuming and potentially lead to wasted hours and resources. With today's small business owners becoming increasingly dependent on technology, it's more important than ever to use these solutions the right way.
Mike Salem, CEO of Vorex, a professional services automation (PSA) software provider, shared the following small business "tune-up" checklist to help you maintain and improve your business, reduce wasted company hours, and increase productivity and profit. [7 Small Business Apps for Improving Productivity]
1. Are you spending too much on technology?
It is very common for small businesses to purchase multiple solutions that wind up doing the same thing — for instance, purchasing virus protection software for a computer that already has anti-virus software built in. When choosing software solutions, purchase those that perform multiple functions instead of a different solution for each function. It's cheaper and integrated, and it's always easier to learn a single solution.
2. Are you automating your business functions?
Just about any manual work can be replaced with a software solution that's faster, more accurate and more cost-efficient in the long run — so replace your pen, paper and even Excel spreadsheet with a specialized, automated solution.
3. Are you in the cloud?
The whole world is moving to cloud-based solutions. Don't swim against the current. Data security on your laptop is much more vulnerable to theft compared to professionally hosted solutions. Migrating to the cloud will also empower your mobile workforce, as you will be able to run your operation anywhere with an Internet connection.
4. Are you buying or leasing your solutions?
Most software solutions are moving away from the old single-purchase model and into the monthly or yearly subscription model. Because technology evolves so quickly, you should subscribe and be nimble. Do not marry your software solution.
Originally published on Business News Daily.