10 simple tech upgrades for small businesses to save money and grow

Cloud-based collaboration tools

Long gone are the days when small businesses were purely office-based. Today, the adoption of flexible working environments means we can work where we want when we want. 

To help us do this more efficiently, it is worth investing in cloud-based collaboration tools such as Google Workspace and Microsoft 365. These platforms mean that information can be accessed from anywhere with an internet connection. So, you can potentially save thousands of dollars a year on rent and equipment for physical office space. 

Being cloud-based, features like real-time document editing, instant messaging and collaborative project management boost productivity and promote seamless communication with colleagues, customers or suppliers, no matter where you or they are located. This means that even if you are sitting in a coffee shop, on a bus or at the beach, you have the power to efficiently conduct business activities. 

Customer relationship management (CRM) systems

Customer Relationship Management (CRM) platforms like HubSpot, Salesforce, and Zoho CRM provide excellent ways of doing this through automation features that can streamline marketing campaigns, nurture leads and offer better customer support. 

Essentially a good CRM system frees up valuable time for small business owners and employees by offering a centralised location to organise and analyse customer data. By using it, you can customise an approach to them which anticipates their needs in a personalised way, which should lead to increased customer satisfaction and loyalty. 

Digital payments

The rise of EFTPOS machine providers like Smartpay and online platforms like Square, PayPal, and Stripe have changed the way small businesses accept payments. As a result, they can now seamlessly accept payments in a secure, swift and convenient way, any time, anywhere – including in-store, remotely at markets or trade shows or online.

These digital payment solutions provide greater cash flow for small business owners who no longer need to wait three to five days for cheques to clear. They also streamline their financial operations and enhance their customer’s buying experience. Usually, these solutions come with competitive transaction fees that reduce the overall cost of processing payments. 

E-commerce platforms

Thanks to platforms like Shopify, WooCommerce and BigCommerce, small businesses can easily set up and manage an online store that can sell thousands of products. This provides them with a very cost effective way of embracing new sales channels that make their products or services more accessible on a nationwide or global scale.  

These platforms provide user-friendly interfaces, customisable designs and secure payment gateways that create a seamless, highly professional and branded online shopping experience. If set up correctly, you can create and manage an online store that stands to-to-toe with the big boys.

Automated financial management software programmes

Perhaps most crucially, these types of software can quickly give you a clearer picture of your company’s overall financial health by providing real-time insights that will guide you towards making more informed decisions. They are also user-friendly interfaces that can integrate with any type of banking system and can provide scalability and adaptability to the changing financial needs of any size of business. 

Cybersecurity

By taking proactive steps to install Antivirus software, firewalls and virtual private networks (VPNs). A, you will go a long way towards safeguarding the sensitive data contained within and the critical systems needed to run your business. 

Small businesses are often targeted by malicious actors, so the more robust cybersecurity infrastructure you can set up, the better. Doing this will prevent the potential financial losses you might incur from a cyber-attack and protect the reputation of your business from any negative PR associated with such a security breach. 

Automation tools

Small business owners can often get caught up in performing routine or mundane tasks in their business that prevent them from focusing on more strategic and creative aspects that can grow their business. Therefore it is a good idea to embrace task automation tools to help them reduce errors that are often associated with manual data handling, increase productivity and minimise their workload overall.

There are a number of tools available that can help you do this, including Zapier and Mailchimp which automate repetitive processes such as data entry and email marketing campaigns. As they can integrate between various other apps and services, they can help small businesses adopt more streamlined workflows and allocate more significant resources to more profitable activities.

Video conferencing

One of the most efficient and cost-effective technology upgrades you can make is by embracing video conferencing platforms. This simple act can save small businesses thousands of dollars a year in travel costs and expenses, not to forget valuable time. It can also help an operation to compete on a global level by helping employees to connect, collaborate, and conduct virtual meetings with clients or colleagues from all over the world. 

Zoom, Microsoft Teams and Google Meet are some of the leading platforms on the market. Between them they offer a seamless and interactive way for screen sharing, file sharing and real-time collaboration on documents, which also reduce printing costs and enable operations to be more eco-conscious in their business dealings.

Employee training

Every business needs to invest in the professional development of their staff to help them stay agile and adaptable in a constantly changing landscape and also improve their employee satisfaction and retention rates. For this reason, it is worth embracing employee training platforms such as LinkedIn Learning, Udemy, and Skillshare. 

These platforms help to improve the skills and knowledge base of your employees through accessible and cost-effective online training solutions which enable them to stay updated on industry trends. They usually take the form of a diverse range of courses that cover technical and soft skills, which are tailored to the specific needs of each employee. 

What is great about them is that they can be undertaken in your office space and won’t involve the cost of travel or overnight accommodation.

Energy-efficient devices

 Every business has a corporate social responsibility to reduce their levels of energy consumption. However, it is also worth taking steps to do this to enjoy significant savings in terms of electricity and operational costs in the long run.

One way to do this is to upgrade your hardware, as there are several brands of laptops, printers, machinery, and other office equipment that are much more energy-efficient than older models. At the same time, they also enjoy a much greater level of performance.

It is also worth considering implementing smart features like programmable thermostats and energy-efficient lighting into your office environment. This can further minimise costs while improving working conditions and reducing your business’s environmental footprint.  

Conclusion

Today, more than ever, small business needs all the help it can get. Thankfully there are innovations out there which can reduce your costs, streamline your processes and make your operation more efficient. The ten tech upgrades outlined above can help you do this and while they will involve an initial upfront cost, it is important to keep your eye on the bigger picture.

At the end of the day, we all want our small businesses to be successful and there is no doubt these ten tech upgrades can help you achieve that goal.