57 Ways to Grow Your Business: 9 – Apply the latest technology

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Technology is a major driver of business profits. Here is a list of innovations you may want to implement in your business:

  1. Document management systems (going paperless)
  2. Electronic workflow
  3. Multiple monitors
  4. Portals
  5. “Cloud” computing
  6. Customer relationship management (CRM) software

There are significant benefits to going paperless:

  • Increase in productivity
  • Elimination of storage space
  • Reduction in expenses
  • Ability to work remotely
  • Better customer service
  • Protection of documents
  • Happier team members

There are also significant benefits to being in the “Cloud”:

  • Investment – Cloud computing shifts a large portion of your IT costs from a capital outlay to a regular operating expense
  • Expense – Reduced IT expense as there’s no need for expensive servers, hardware or IT departments
  • Access – Access your data from anywhere in the world with an internet connection
  • Scalability – Add users/programs/applications on an as-needed basis, allowing you to adjust your system for seasonal peaks and troughs
  • Speed – Applications are infinitely quicker due to the capacity of the host’s larger operating systems
  • Security – Data is backed up (in real time) and stored in multiple secure locations. The threat of having your servers stolen, subject to natural catastrophe such as fire or flood, or being otherwise compromised goes away