Is your business technologically efficient?

|Jan 29|magazine9 min read

As a business owner, what are your greatest concerns in 2014?

Among the challenges facing those who run companies nationwide is finding affordable healthcare for employees, keeping dependable workers on board when they might look to jump ship for better salaries and benefits, and maintaining data security in a world where hacking incidents have become all too familiar.

Now, where would you rank maintaining your company’s operating technology efficiency among the challenges you face owning a business?

Unfortunately, too many running companies overlook the importance of staying up to speed on the latest technology to effectively run their operations.

Read related articles in Business Review USA

Don’t cut corners on technology

One of the perfect examples of this dilemma is not spending enough money on technology, something that many business owners fail to comprehend.

That said, according to a Gartner Inc. forecast, spending worldwide in 2014 is estimated to come to a total of nearly $4 trillion. If that holds true, it will be more than a 3 percent jump in such spending from just a year ago.

With that in mind, will you be one of the businesses increasing your IT budget this year? Or, will you stand pat or even decrease how much you put towards technology?

Areas to focus on

If this is the year to spend more time and perhaps more dollars on your business IT efforts, what are some areas to look at?

Among some to consider:

1.    Mobile payments– If you’re not already offering mobile payments for your customers, you are very likely losing out on a substantial amount of prospective revenue. As more and more consumers abandon traditional shopping methods for faster and more convenient buying options, making mobile payments available can only help your business;

2.    VoIP – As a business owner, do you take time to see how efficient your employees are both in and out of the office when it comes to customer service, meetings, conferences and more? With the right VoIP solutions, your company can increase worker efficiency, decrease the costs for long distance calling, and integrate multiple functions all at once. For your employees that are on the road and/or telecommute, VoIP is a great option for conference calling and keeping everyone on the same page with company initiatives;

3.    Videos– Lastly, how much time and money do you invest in video technology? With the right video packages, your company can promote your brand and bring a visual presence to your products and services. Whether it is through in-house productions that are posted to YouTube or your own website or hiring an outside video production company, never underestimate the power of video.

As a business owner, is 2014 the year you see an uptick in your technology efforts and expenditures?

If not, will you ultimately end up on the outside looking in when it comes to adding more customers and increasing revenue?

 

About the author

Dave Thomas covers an array of website topics, among which include marketing, social media, and technology.