How Your Business Might Be Suffering From Not Utilizing Technology

Anita Ginsburg

April 01, 2015

	Not rated
	Rate:

Technology is a driving force behind most businesses today. However, many business owners have attempted to continue to operate without employing the use of technology. This is a problem that causes many businesses to suffer in a variety of ways. Often, simple technology-based upgrades to a business can lead to a business that operates better and produces a higher rate of revenue. Here are a few areas where manually operated businesses can benefit from a little technological boost.

Using Technology to Drive Efficiency and Reduce Employment Overhead

One of the reasons technology works so well in the business world is because it eliminates the need to hire so many employees. Although an employee is a useful attribute to a company, machines are becoming advanced enough to replace humans in a number of every day business operations. Electronic records systems, for example, will ultimately replace the need for a file clerk. Why hire someone to arrange and pull files, when a computer can do it all for you at ten times the speed. Faster service is appealing to customers also, making your business capable of being more efficient at a fraction of the cost. Ultimately, it comes down to hiring one person to handle multiple responsibilities instead of five people to get the job done.

Improved Customer Interface

The need to stand in line to wait for an attendant to serve a customers needs is a rapidly dying business model. Point of sale systems are quickly and efficiently replacing the person to person interface of old with a faster machine to person interface model. A computer will also help a customer understand their options more directly and efficiently as well through a standardized graphical interface approach. Again, this reduces the number of employees a company needs to pay to keep on staff. In addition, it helps customers to move more rapidly through the store, keeping in pace with their fast paced lives.

ACH Processing of Electronic Funds

Modern businesses are under a lot of pressure to ensure customers that payments can be quickly verified and received through their store. Businesses who fail to be able to provide their customers with up-to-date electronic payment options will inevitably drive business away. ACH merchant services also help with direct deposit for employees to make sure everyone is getting paid on time. This means less of a hassle for a manager or business owner trying to process everything by hand.

Electronic Inventory

Another advantage of modern point of sale electronic systems is the feature of electronic inventory programs. When an item is purchased, the electronic inventory program updates the inventory list. When an item is in need of reordering, a message is sent from the program to the store manager's smart phone to alert them to the pending need. This helps a business to prevent the problem of running out of stock too quickly and losing sales unnecessarily.

For many struggling businesses, it is time to consider upgrading to a more functional, technological level. Technology is key to making any business run more efficiently. Businesses that buck this general tech trend often create their own loss of efficiency and revenue along the way. Do not be stuck in this rut. Bring your business into the modern age with a technology upgrade today.