www.fredlundincpa.com

Managing Technology Costs

12.29.18 08:31 AM By Fred Lundin

The cost of doing business has been increasing steadily in the past few decades. One of the major contributors to this increase is technology. The need for technology has increased exponentially and so has the cost of managing it. This article will explore how small businesses can manage their technology costs and still remain profitable.

Ways to Improve Technology Efficiency in Your Small Business

It's not always easy to figure out how to improve your business efficiency. The best way is to start by knowing what you want to achieve and then find the right tools, strategies and technologies to help you get there.

  • Invest in Technology: Technology is an invaluable tool for small businesses because it can help with tasks like accounting, HR and marketing. Plus it can make your life much easier in general!
  • Manage Your Time: Managing your time is one of the most important things to do as a business owner. The key to doing this is by creating a tech management plan and sticking to it.
  • Keep Your Business Assets Organized: Keeping your business assets organized is a significant step to reducing costs and improving efficiency. The first step in a tech management plan is to evaluate the current state of your business tech.
  • Create a Long-Term Technology Management Plan: A technology management plan is a written document that contains the steps to manage and maintain your company’s technology. It can be created by the company’s IT department or an expert consultant.

Tips to Help Reduce Technology Spending

1. Find the right tech provider for your company

2. Compare and contrast between different service providers

3. Make sure you are not paying too much for what you are using

Fred Lundin