For many small businesses, back-end operations such as project management, billing and invoicing and time tracking can be time-consuming and potentially lead to wasted hours – and money. Today’s small business owners are depending on technology now more than ever to help run an efficient operation. But are they using technology the right way?
In the spirit of this year’s World Cup, below is a short list of small business practices that may inadvertently earn your business a “yellow card.” Adjusting these practices may help small businesses maintain (or improve) back-end operations to help not only reduce wasted company hours, but also increase productivity and profits:
- You’re spending too much on technology! It is very common for small businesses to purchase multiple solutions that wind up doing the same thing (i.e. purchasing virus protection software for a computer that has anti-virus software built in). Purchase software solutions that do multiple functions instead of a different solution for each function. It’s cheaper, integrated, and it is always easier to learn a single solution.
- You’re not automating your business functions! Just about any manual work can be replaced with a software solution that’s faster, more accurate, and more cost-efficient in the long run. So replace your pen and paper – even Excel spreadsheet – with a specialized solution.
- You’re NOT on the Cloud! The whole world is moving to cloud-based solutions. Don’t swim against the current. Data security on your laptop is much more vulnerable to theft compared to professionally hosted solutions. Migrating to the cloud will also empower your mobile workforce, as you will be able to run your operation anywhere.
- You’re BUYING Your Solutions – not Leasing! Most software solutions are moving away from the prehistoric single-purchase model and into the monthly/yearly subscription model. Because of how quickly technology evolves, you should subscribe and be nimble. Do not marry your software solution.
Mike Salem is the CEO of Vorex, which was founded in 2007, and is one of the company’s original founders. His career as a visionary business innovator spans more than 20 years. Under Mike’s leadership, Vorex has grown to become a leading provider of cloud-based PSA solutions.