Follow These 4 Frugal Tips To Save Serious Cash Through Technology
According to the Small Business Association, there are over 33 million small businesses in the United States that collectively employ 61.7 million Americans.
Even the strongest businesses have room to save money, especially when there is so much available technology to help automate and streamline business practices.
There are always places where you can trim expenses, and technology can help you do that. Whether you work in a large office with dozens of employees or at home on your own, here are some tips that can help.
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Automate Your Books
If you've owned a business for any amount of time, you know how important it is to keep your books updated. Running payroll, categorizing expenses and making sure invoices go out can take a lot of time.
There are many different online bookkeeping and payroll tools that can save you time. For example, with most bookkeeping software, you can track automatic expenses and set up rules that sort your expenses into different categories without you having to lift a finger. This saves time and labor expenses.
Use Free Tools When Possible
Depending on the size of your team, you might be able to use several free tools before moving to paid versions. For example, you can use Skype or FaceTime to video chat instead of paying for a Zoom subscription.
Other tools, like Google Analytics, are free to use. There are also many other free services regarding email, cloud storage and more.
Create an Eco-Friendly Office
If you have a brick-and-mortar office, there are many ways to save money on electric costs — for instance, by switching to LED lights and automating lights to turn on and off at different times of day. You can also use smart thermostats to save on energy costs.
Additionally, using cloud computing and transferring files with Google Drive, for example, can save money on printing costs in addition to being more environmentally friendly.
Pay for Cybersecurity
Some necessary business expenses might be pricier upfront but can save you thousands of dollars in the long run.
For example, paying for cybersecurity software — or cybersecurity insurance — is a worthwhile expense because it can save your business thousands of dollars in fees if you face a security breach.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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