As a small business, you will have limited capital to start and manage business operations. In that case, you have to find ways through which you can minimize those costs and still give your customers quality products and services. Managed IT companies like Bloo Solutions provide managed, cloud-based, and other technology solutions to small businesses to help them be more productive and cost-efficient. There are multiple low-cost technology solutions which startups can employ and achieve their short-term and long-term objectives.
Automated billing and invoicing
Gone are the days when billing was done manually by small or large businesses. Automated billing and invoicing have come out to address some of the most vital issues that were there before. For example, delay in the preparation of financial statements, multiple errors in billing, poor customer service and the like. By automating billing and invoicing you will be able to streamline bookkeeping and accounting operations and thus maintain steady cash flow in your business. The cost to automate billing tasks will depend on how many invoices you process on a daily basis, which makes it convenient for a startup with few customers.
Teleconferencing
This technology solution helps you to hold meetings, virtually, without having to meet face to face. There are many tools, most of them free, where you can video conference remotely, which is cost effective. You save the time and money of having to travel in order to attend a meeting. You can teleconference with potential customers, existing customers, and business partners for free, on applications such as Skype and Google Hangouts.
Remote time tracking
Small businesses can get a lot of value when it comes to time tracking. It will work well where they are billing their clients hourly and hence able to review work based on the time logged. Small businesses will be able to know how much time a project takes and estimate the cost it will incur prior to undertaking it. As a small business owner, you get to know what you are paying for. There are some time tracking tools which come integrated into other applications such as bookkeeping software, while others are just a product on their own.
Automation in tracking of inventory
It will take more resources, including time and hiring more staff, to manage your inventory. Without a proper inventory management system, you may end up losing revenue, as you are bound to run out of stock without knowing. To reduce the cost of managing your inventory, you can employ an inventory management application that will help track your inventory in real time. This way, it will automatically make an order based on the daily demand and the current stock level. Compared to hiring more staff, you will find out that an inventory management software will be less costly, time-saving, and accurate.
When searching for the best technology solution for your small business, you will need to consider your business objectives and the technology requirements needed. It will include the cost and the entry level needed in order to train your staff. This will help you to get the most out of the technology.
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