7 Ways Technology Can Help Your Business Minimize Your Expenses

Tuesday, August 30, 2016

7 Ways Technology Can Help Your Business Minimize Your Expenses


Along with being a path to innovative products and services your start-up can sell, technology can also be used by your company to reduce costs, and keep you running lean and mean.

Are you paying more than you need to in overhead costs? A lot of businesses are, and technology can fix the problem. Here are seven ways you can reduce your company's expenses, and start taking home more in profits.

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Switch to Newer Apps

You could use a fancy accounting service. Or you could sign up for a service that handles billing and legal issues for less than what you spend on coffee per week. You can find apps for nearly any task imaginable, all handled through your browser or mobile device.

Launch an Affiliate Program

A solid affiliate program can bring in more money than you ever thought possible. Find one within your industry, or create your own. Affiliate marketing can bring in six figures alone, per year.

Get a Degree

Just knowing more about how technology impacts your business can make a huge difference in your overhead costs. So can knowing how to use it to your advantage. A degree in online masters in business analytics, for example, may help a lot.

Recommend Products to Offset Web Costs

You may have noticed company blogs linking to recommended products. This is part of an incentive program with companies like Amazon. It only works with some styles of business, but it may be an option.

baxter robot
With costs decreasing, even small businesses can look to automation, like Rethink Robotics Baxter to help them keep costs low.

Use Automation to Lessen Man Hours

Why spend more time and money than is necessary, when you can just automate some of the business processes that normally go to an employee? Automation apps are all over the web these days. From drip emails to payroll auto-pay, you will find something you can use.

Go For Free Wherever Possible

You could spend hundreds on a software that gives you conference calls. Or, you can use Google Hangouts and have up to ten people on the line, with video or audio calling straight from your phone. Never pay for something you can get for free.

Consider Green Technology

Putting up solar panels on your office may seem very expensive at the time. But they are a long term investment that makes a big difference. As are low flow toilets, energy saving bulbs, and climate control systems. Just the tax breaks alone could make it worth the change to green tech.

Why Pay More Than You Have To?

Businesses can greatly benefit from technology, and cutting overhead is only one way. These seven tips will help you to reduce your daily, monthly and annual fees. Which means more profit to push you deeper into the black.

By Lizzie WeakleyEmbed

Author Bio: Lizzie Weakley is a freelance writer from Columbus, Ohio. She went to college at The Ohio State University where she studied communications. Lizzie enjoys the outdoors and long walks in the park with her 3-year-old husky Snowball.


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