Technology shouldn’t scare you no matter how small your business is. In fact, it might even be more advantageous for small and medium regional businesses to embrace technology to improve processes, cut cost and increase productivity.

Here are five reasons why.

Reason #1: Suppliers are embracing technology

If you think you’re the only one who wants to cut cost, well, think again. Gone are the days when suppliers prefer putting pen to paper – it’s more time intensive, costly and not environmentally friendly. Today, most suppliers have online ordering and tracking systems which makes everything smoother not just for them, but for their customers enabling you to track and manage your current and past orders online.

Reason #2: The Government is embracing technology

The ATO alone now has most services online even for mail via secure login, which will provide a full audit trail of receiving documents from them.

Reason #3: Customers have embraced technology

These days, customers want tech-savvy sellers. We have what we call the ‘right-now’ generation where instant access is everything to them. Need a cab? I want it right now. Need a room? I want a cheap one right now. Need food? I want one delivered in the next 10 minutes. Soon, the ‘right-now’ customers will make up most of the buyers segment (and the workforce too). You have to keep up.

Reason #4: Information today is through technology

This cannot be any truer about your finances. As businesses, you always have to be on top of all your cash flow. What comes in, what goes out. When is money coming in, can you pay creditors on time? Can you make additional purchases on equipment by next month? All of these should be right at your fingertips – and technology allows that. Get meaningful reports on your books and finances. Read more here.

Reason #5: Marketing is done through technology

Have you ever done print ad through newspapers? Probably in the 80s or 90s but even then, wasn’t it costly? And then you’re unsure what results it brought? You can’t keep track of who bought the newspaper, who saw your ad etc. Today, through tech, marketing is made simpler and is both much more engaging and traceable. You can see what people want, you can segment your advertisement to fit the profile of your target market. Then you can see what happened to your investment through analytics. A simple post can serve as a free advertisement for your brand. Free online marketing assessment. Check it out here.

The world around us has embraced technology. Face to face communication and relationships are important, and we are advocates of that. But even face to face communication can be done thru technology (ever heard of Skype?).

The world is constantly evolving, and it’s important to keep up or businesses will fall behind – remember the brand Polaroid? Once a household name, and now a distant memory thanks to digital photography. Polaroid was revolutionary in creating its instamatic camera, however had Polaroid moved with the changes in technology they could have effectively owned the consumer digital camera market. Their refusal to adopt technology nearly spelled the end to their business.

Bookkeeping is another segment which has evolved considerably. Most accounting packages are available online now, and with bank feeds, the process of doing your books is not so labour intensive. Interested in having your bookkeeping done online? It’s fast, easy, affordable and makes most sense to your business. Call us today at (07)5413-9300 and we’ll help you set-up.

Related Articles: