Small Businesses are Using Technology to Save Money

How Start-Ups and Small Businesses are Using Technology to Save Money

Technology

How are they doing this you ask? By outsourcing. Outsourcing the services that are necessary to stay relevant in a digital world. Outsourcing the technology stacks that big companies can afford to handle in-house. But get this: even business giants outsource.

Here are three important services any organization needs, but that can be easily left to specialists.

Cloud Hosting

Recent insights from Gartner — the international research powerhouse — suggest that by 2020 well over 90% of all companies will use some type of cloud-based services. That tells us it’s not simply an internet fad. It’s where the future of business infrastructure is heading.

One of the key drivers for companies that make a move to the cloud is accessibility. Cloud technology allows owners, managers, and other employees to access the tools and information they need anywhere on any device. This is particularly important for businesses with a remote workforce or who have salespeople out in the field.

Not only do cloud-based solutions allow flexibility for users, they also allow flexibility for the entire system. In other words, scalability.

How does cloud-based hosting affect the bottom line? The ability to find information quickly, answer prospect questions on the fly, and immediately troubleshoot client issues equals customer satisfaction. Satisfied customers are repeat or long-term clients. That’s the bread and butter of any organization.

As far as scalability is concerned, it’s an investment in the future. Cost savings occurs when a business doesn’t need to purchase new equipment, new applications, and new licenses which all increase overhead.

Cybersecurity Administration

It’s a common misconception that cloud assets are automatically protected and secured by default. Unfortunately, that’s not always true. It’s your company’s responsibility to make sure all cloud assets — financial data, customer information, licenses, and applications — are safe from cyber-attack.

A cybersecurity system must be correctly configured for security. It must also be consistently updated to meet compliance standards. Cybersecurity is designed to meet three integral criteria: confidentiality, integrity, and availability. These are often referred to as the CIA Triad.

How does the proper security configuration affect the bottom line? Fines for data breaches, non-compliance, and audit penalties aren’t cheap. The 13th annual Cost of Data Breach study sponsored by IBM states that it cost a company $148 per stolen record. Can your company afford that? Save money by being proactive.

Network Management

“The system is down.”

Those four words strike fear into the heart of any business owner. Everything comes to a screeching halt. And now you’re at the mercy of an IT department or your “computer guy.” Whether you have an entire data center or a network of PCs and laptops monitoring the system should be a high priority.

That’s what network management offers: 24/7 monitoring. Along with immediate outage detection, network management includes a full suite of services designed to keep everyone online and working smoothly. These include network maintenance which involves installing upgrades and new applications, patches, and other enhancements; data backup and disaster recovery; antivirus software management; event log and monthly status reports.

How does network management affect the bottom line? Downtime can be very expensive. An IT analysis from IDC monetizes the cost downtime has on user productivity. For every 100 users organizations lost $58,118 annually. Even if a business doesn’t have that many employees, the cost is still substantial.

All the above are functions of managed IT services. Many of the services offered direct and immediate cost-savings benefits. Others are less tangible but still improve productivity. Increased productivity equals increased bottom line.

When looking into these types of services there are some vendors that offer a full stack of technology services. Using one company to handle multiple facets of managed IT services is often a more cost-effective way to go.

The bottom line: it’s all about the bottom line. Especially for new start-ups and small businesses. In fact, the distance between failure and the bottom line is a lot less than it is for large corporations. Every dollar saved is another step toward longevity.

That’s why more and more of the “little guys” are using technology to save money.

Featured image: evoice.com.au

Author: Victoria Martin

A small business owner since 2002, Victoria understands the joys and struggles of being an independent sales professional. Early in her career, she realized the benefits of leveraging the internet and now she enjoys sharing marketing tips and techniques with other business owners as a freelance writer.

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