How Technology Can Increase the Efficiency of Your Business

March 9th, 2015

Technology icons in the palm of a hand


Technology can provide us with ways to maximise our personal and business efficiencies, saving us time and money in the process. There’s no shortage of options when it comes to technology and tools that could potentially help companies operate more efficiently. Simply speaking, technology now allows us to process data at breakneck speed, with more accuracy, and potentially even replacing some human functions.

It also allows us to be paid more efficiently, with online credit card payment processing instead of having to take credit card impressions or wait for bank transfers. Furthermore, technology allows for the filing and retrieval of massive amounts of data, which can be easily updated and restored.

These general impacts of technology are perhaps taken for granted as they become a part of our everyday lives and business operations. However there are countless other ways in which technology can be used to increase business efficiencies.

Project management

Managing workflow and projects within a business can be a time consuming and complex proposition. There is a wide range of web based project management tools available that can help businesses operate in a paperless manner, providing for full accessibility of files and information. Project management suites range from simple ‘to do’ lists that employees may use to aid productivity, to comprehensive suites for more technical and full lifecycle implementations.

Automation

Sometimes a business’s core processes can slow down its progress. Tasks that are required to be performed manually and on a large volume basis can cut into employee productivity. Technology can help automate such processes, freeing up time and resources and therefore maximising efficiency. For example, marketing teams can automate newsletters and customer communication, freeing up valuable time to focus on other initiatives.

Computer infrastructure

Many businesses are opting to implement ‘Desktop as a Service’ (DAAS) arrangements, in which the computer environment is managed centrally by a DAAS provider. This means that users access their applications through a cloud based setup, and all maintenance, updates, and patches are deployed and managed centrally. This can result in greater efficiency due to less technical overhead and upgrade cycles.

Customer service

Providing great customer service is crucial for all businesses, and technology can help manage customer databases and allow them to be served better and more effectively. Making notes about your customers, scheduling appointments, and following up on activities can all be made easier by using a Customer Relationship Management (CRM) system.

Financials

Bookkeeping and accounts are one of the least glamorous aspects of running a business and can take up a lot of valuable time and resources. Technology can aid this function, by allowing real time accounts to be kept and stored in the cloud for easy access by staff and accountants. Furthermore, they can provide key information on a business’ financial performance so that management can make more informed decisions.

Workforce management

As a business grows it may need to bring on more staff, and sometimes a temporary arrangement is all that is required to meet demand. Online services such as Airtasker and Sidekicker can help locate willing and able persons to assist with large variety of tasks. This helps a business run lean from a cashflow perspective, while simultaneously enabling it to deliver on urgent demands.

Bring your own device

The BYOD movement has been making waves in both large and small businesses, and for good reason. Employees can work more efficiently on devices that are comfortable and familiar for them to use. Furthermore, the greater use of mobile devices such as tablets has meant that the workforce is much more mobile and better equipped to do business at any place and any time. This brings with it great efficiency from a business perspective.

With technology evolving at a fast rate, it’s becoming cheaper for businesses to implement solutions to increase their efficiencies. Embracing technology can have a profound impact on the effectiveness of a business.

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