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.

Financial

  • 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

Marketing

  • 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.

Productivity

  • 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.

Customer Service

  • Use social media to conduct customer service.
  • Set up an online help desk to handle customer issues.
  • Allow clients to schedule appointments online at their convenience.
  • Conduct online surveys and questionnaires to get customer feedback.

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.
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