Will Updating Your Technology Save you Money?

With the U.S. economy slowly recovering many people are looking at small and medium sized business as the major drivers to fuel the economy.  Many businesses falsely believe that maintaining and using old technology is more cost efficient than upgrading.  In the long-term, managing the old equipment can cost more than upgrading.  Using up-to-date technology is an important way SMBs (small and medium sized businesses) can improve productivity and move their business forward.

Since many small businesses did not upgrade last year due to the economy, it is essential to make those upgrade decisions in order to stay competitive in the marketplace.

At the National Small Business Week conference held last week there was a lot of talk about new technology and tools that can help small and medium sized businesses.  Steve Zimba, head of marketing for Cbeyond, says the company’s mission is to “bring the technology big businesses have to small businesses at affordable prices.”  Angus Thomson, VP at Intuit’s Grow Your Business division, stated that Intuit is offering more accounting and payroll solutions.  Other services include building and hosting websites, e-mail marketing services, SEO, SEM, and an online marketing toolkit.

Time and attendance software as well as cloud computing are also examples of technology that can help your small or medium sized business.  

Cloud computing was a buzz word at National Small Business Week.  It provides the ability to access software applications such as e-mail, customer relationship management, and storage applications from the Internet.  This helps small businesses because they do not have to commit the capital to install computer hardware like servers and storage systems to run the applications.  The monthly subscription fee takes the place of hiring a full-time IT person.

Smart Phones are also becoming a necessity for small business owners.  Be it a Blackberry, iPhone, or iPad these devices make conducting business on the go a breeze.  The Smart Phone allows you to join a conference call and the popularity of these smart phones has created a marketplace for applications geared specifically toward smartphone users.  

Whether it is time card software or cloud computing, take the time to research new technology as it can greatly improve your business productivity, and in turn, reduce your costs.  The new technology can help small businesses reduce overhead and number of employees as well as create a virtual office for people on the go.

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