Did you know that small businesses have increased their spending on technology by 50%? This isn't surprising when you consider the immeasurable benefits technology in business has for boosting profits. We at MGA are proud users of technology, and we are continually searching for the latest and greatest technology tools to keep our operations as efficient and productive as possible.
While the ways to use technology in your business are truly endless, we’ve compiled a list of some of our favorites.
3 Ways to Use Technology in Your Small Business
There are tons of different programs that can help you and your team stay productive. For example:
- Time Tracking. Time tracking software is ideal for visually seeing how you and your colleagues spend your time. This is one of the most efficient and accurate ways of keeping your team members accountable and identifying areas you and your team can improve on.
- Streamlining. There are a plethora of project and task management tools that can help you prioritize your daily tasks. When you methodically plan your work, you're more likely to focus your energy on those all-important money-making activities. You should also use an online filing system. For example, Google Docs. This makes storing and sharing your work amongst your colleagues so much easier.
Keeping on top of your finances is of paramount importance for any business. For example:
- Utilizing a digital invoicing service. This drastically cuts the cost of collecting fees from your clients.
- Source budget tracking software. This is super handy for keeping on top of your expenses. When adequately analyzed you can identify areas where you can reduce your costs, and hence save money!
- Use holistic accounting software. This is by far the smoothest way of managing your company's finances. For example: paying your employees, managing your taxes, sending invoices, etc.
- Get a handle on strategies for sharing files. This is essential for achieving effective communication with your accountant.
You get the idea!
You can utilize the internet to hire the best and the brightest to grow your team. There are loads of sites online where you can advertise a job for free. Usually, you can find a resource that allows people to directly send inquiries, references, and resumes for you to sift through.
Interestingly, more and more of these sites give you an option to ask for applicants to submit a video to introduce themselves. This gives you the opportunity to vet your candidates thoroughly, so you have a better idea of what to expect when they come to interview with you.
Once more, your HR staff can utilize technology to send potential employees tasks. This is an excellent way of testing the candidates before you take a chance on hiring them. Likewise, you can use the same or similar software to monitor both the progress and performance of that employee during their probation period.
With Technology Trends on the Rise, You Need a Partner Who Can Keep Up
If you’re looking for a business partner who can keep up with tech trends affecting your industry and offer new ideas for your business as technology continues to evolve, you’ve come to the right place.
No matter what industry you are in, we can provide you with innovative approaches to your specific business needs.
How can MGA help your business stay ahead of the curve?