Technology Increases Small Business Profitability

During times of economic struggle, most smallTelecommuting - many small businesses also find that
businesses end up making cuts and changes to keepthere isn't a need for all employees to work in the
their businesses in the green. From laying off staff tosame office building in order to get their work done.
decreasing business travel, reducing marketing effortsHaving employees who telecommute requires the
and ending bonuses and raises temporarily - there aretechnology to make that happen (a secure network
a variety of ways small businesses look to cut theirfor employees to access data they require to do
expenses. At the same time, they look for ways totheir job; improved communication systems to
increase profitability - especially when operating withreceive incoming phone calls at their homes or on
reduced staff. Technology becomes even moretheir cell phones and the ability to keep in touch with
useful as small businesses strive to increaseco-workers in different locations). Having employees
productivity and efficiency.telecommute can save you from needing a larger
There are so many gadgets and technology solutionsoffice space, which keeps your overhead costs
out there that it can be easy to buy more than youlower, too.
need, or to buy the wrong types of products thatCustomer Relationship Management - having some
just don't deliver the solutions your business needs.sort of CRM software to help you manage your
When deciding what types of technologies can helpdatabase of clients and prospects is well worth the
your business reach its goals, here are a few thingsinvestment. Many businesses will tell you the "money
to look for:is in the list"; meaning the amount of money a
Communications - technology is well known for itscompany earns is directly proportional to the number
capability to improve the ability for people toof people on their mailing list. Some companies use
communicate with one another. Whether you've gotsoftware like ACT, Goldmine or SalesForce to track
employees on the road or down the hall, virtualtheir clients and leads. Others have custom-built
phone systems can route calls to cell phones andsoftware developed to handle unique needs that
keep everyone in touch regardless of location.can't be addressed with existing software.
Instant messaging and email provide quick ways toTechnology makes it possible for small business to
communicate with the written word and keepincrease productivity and compete with larger
documentation of these conversations for futurebusinesses on a smaller budget, thereby increasing
reference. Social media and networking sites provideprofitability. Efficiency and organization is improved
a way to keep in touch with co-workers, customers,through the use of appropriate data storage, search
and the competition at a glance.and mining, customers are better managed through
Data Storage, Warehousing and Search - If you findcustomer relationship management systems, and it is
employees are spending a lot of time looking forpossible for money to be saved when employees
certain reports, forms or other data that they needtelecommute from home. Before investing in any
to perform their job responsibilities, investing innew technology, identify the unique needs of your
network hardware and software to keep track ofbusiness and determine which technology will best
the whereabouts of your data can be useful.meet your needs.