By Mike Salem
For many small businesses, back-end operations such as project management, billing and invoicing and time tracking can be time-consuming and potentially lead to wasted hours – and money. Today’s small business owners are depending on technology now more than ever to help run an efficient operation. But are they using technology the right way?
Below is a short “Small Business Tune-up Checklist” that may help small businesses maintain (or improve) their back-end operations to help not only reduce wasted company hours, but also increase productivity and profits:
- Are you spending too much on technology? It is very common for small businesses to purchase multiple solutions that wind up doing the same thing (i.e. purchasing virus protection software for a computer that has anti-virus software built in). Purchase software solutions that do multiple functions instead of a different solution for each function. It’s cheaper, integrated, and it is always easier to learn a single solution.
- Are you automating your business functions? Just about any manual work can be replaced with a software solution that’s faster, more accurate, and more cost-efficient in the long run. So replace your pen and paper – even Excel spreadsheet – with a specialized solution.
- Are you on the Cloud? The whole world is moving to cloud-based solutions. Don’t swim against the current. Data security on your laptop is much more vulnerable to theft compared to professionally hosted solutions. Migrating to the cloud will also empower your mobile workforce, as you will be able to run your operation anywhere.
- Are you buying your solutions – or leasing? Most software solutions are moving away from the prehistoric single-purchase model and into the monthly/yearly subscription model. Because of how quickly technology evolves, you should subscribe and be nimble. Do not “marry” your software solution.
Mike Salem is the co-founder and CEO of Vorex, a leader in professional services automation (PSA) software that manages core business processes with a comprehensive solution. Vorex PSA is the only cloud-based single comprehensive software for the small- to midsize business market offering project management, time and expense tracking, billing and invoicing solutions with an integrated CRM and HR solution.