Depending on your age, you may know what a fax is. This morning, my 16 year old son asked me, “Mum, what’s a fax?” after it appeared on his laptop when he went to print a document to a wireless printer. It made me laugh and, at the same time, got me thinking about how far we have come with technology, its accessibility, and our ability to do things differently. It also made me reflect on the benefits of the latest technology for small business and how quickly things evolve.
I know that sometimes we resist new technology and different ways of doing things because our first instinct is that it is too hard, or that learning something new will take time we do not have. But rather than focusing on the short-term discomfort, think about the long term rewards of implementing some, or all, of the latest technology available to us, especially when you consider the real benefits of the latest technology for small business growth and efficiency, particularly when it comes to improving business efficiency and processes.
Improving Productivity Through Digital Tools
These days, you can run your business remotely and from almost any location. You can access all your documents through systems like Dropbox and Google Drive. Much of the software available is cloud-based, which means you can log in from any computer to access your work, or even use your phone. This level of flexibility highlights the practical benefits of latest technology for small business owners who want freedom and control.
You can also send an invoice to a customer and be paid within minutes through cloud-based accounting software like Xero, along with email and internet banking.
Internet banking has completely changed the way we do business. Why spend time driving to the bank, standing in line to make a transaction, and then driving back to the office, when you can do it all online within minutes? A customer can now pay you shortly after receiving your invoice, thereby improving your cash flow. These small shifts clearly demonstrate the benefits of latest technology for small business.
Below is a diagram that demonstrates how the use of technology can speed up the process.
In a world where people often have a “now” rather than “later” mentality, where convenience matters and people want things at their fingertips, I want you to think about your business and the limitations you may still have because the latest technology is not being used.
The time it takes to get things done can be reduced significantly, giving you more time to focus on the things you keep saying you do not have time for. It also gives you the added advantage of meeting timelines and can even become a selling point in your service delivery. For example, a fast-food chain may guarantee a 30-minute delivery, or it may be free. In some industries, contracts specify that if a project exceeds the agreed-upon completion date, a penalty fee applies.
Think about how you can use the latest technology to improve processes, save you time, and create more flexibility in the way you do business. When you fully understand the benefits of the latest technology for small businesses, it becomes easier to shift from resistance to strategic implementation.
P.S. When you are ready, reach out and we can discuss the processes within your business to increase efficiency and turnaround time.
EmpowerBeyond – Business Performance Solutions, focusing on people, process, products and services and improving productivity and cash flow.