Technology in business can help SMEs to leverage their limited capital in smarter and more effective ways. In can provide a greater efficiency and versatility. SMEs need to make the necessary adjustments to reap the benefits of tech-friendly alternatives. The good news is that the benefits often outweigh the short-lived challenges of the transitional process, once new systems are in place.
- Online invoicing service to reduce the costs of collecting payment from customers.
- Budget tracking systems to keep on top of—and reduce—your expenses.
- Use accounting software to streamline your business finances.
- Explore open source applications to replace some of the more costly “brand” alternatives
- Use software to create a marketing plan that you can edit, update and share with your team.
- Use social media sites to promote your business, products, and services.
- Start a blog related to your business and target audience.
- Collect email addresses through an opt-in form and start utilizing the power of email marketing.
- Promote your business with a website and/or online advertising.
- Start selling your products online.
- Use video marketing.
Collaboration and Learning
- Conduct teleconference calls to make sure team members are on the same page.
- Webinars or web conferences are great for keeping everyone in the loop.
- Expand your knowledge and empower your team with online business training.
- Share files and data with the cloud
- Set up an Intranet for local file sharing.
- Communicate quickly and clearly with your team through team messaging.
- Time tracking software is an excellent tool for mapping out where time is spent, by whom.
- Streamline your work processes with digital dictation.
- Use project management and task management tools to stay on top.
- Create a digital filing system to make it easier to sort, save, share and find documents.
- Develop an efficient email management process.
Mobile Working and Telecommuting
- Create a mobile office that allows you to work productively from anywhere.
- Try a remote desktop application to access files on your office computer.
- Go paperless to save money on supplies and storage in your office.
- Get a virtual phone number and electronic fax line that you can take anywhere.
- Use your smartphone and select apps that sync with the cloud to stay connected.