Do It Digital: Streamlining Small Business Processes by Tapping Technology

Business.com / Starting a Business / Last Modified: February 22, 2017

We're going digital! Find out how can digitization help improve efficiency while lowering down the overall operation costs.

From increased efficiency to greater productivity, new marketing opportunities and document security, the process of getting rid of some of your unnecessary office processes and equipments is one that can reap multiple benefits.

Technology and business are inextricably linked as we delve deeper into the 21st century and with industries across the spectrum competing for a share of the ever fractured global market, businesses are always looking to cut costs and increase their revenue stream in a variety of technology-oriented ways. According to AT&T, businesses around the world spent over $200 billion every year in paper processing alone.

Therefore, businesses needed to look at various ways - both simple and innovative, on how to better streamline their processes to reduce the company’s overall operational costs. One of the most effective ways to do so is digitizing your business.

The latest trend proves to be effective and there’s no sign of stopping it. In fact, in a recent study conducted by Fuji Xerox Australia and IDC, those who had begun the process of converting documents into electronic formats rated digitized documents as nearly 14 percent more effective than their counterparts that had no plans to digitize.

Related Article: 5 Technology Trends That Have The Power to Change Your Business

Here’s a selection of reasons why digitizing your business is the next step towards growth.

Increased accessibility of information

Moving your physical files over to a digitised source allows for instant access across business sectors and employees. Whether you’re looking to transfer information from one location to another within your company or it’s your staff who need access to documents quickly; a digital source means information is acquired whenever it is needed.

Less time spent searching means more time working productively. Examples include responding to customer enquiries with immediate answers or searching for information to adhere to industry standards and regulations.

Increased security

Reducing your organization's physical information sources reduces the risk of losing that information, and in turn your competitive edge. While physical copies can be manipulated and copied, digitizing your business means data is auditable. It can be tracked and monitored so no interference occurs. Any advantage is key when it comes to your business so the secure factor of digitization is a huge benefit.

Related Article: Millennials Give Business Intelligence a Big Boost

Maximize your space

The costs associated with running a successful business can really mount up, which makes any chance to streamline your physical business a powerful asset. If your files are spread throughout your company it isn’t just difficult for your employees to effectively carry out their role, it takes up valuable floor space.

Moving your information to a digital stream can free up areas previously used for storage. Either sublet your spare floor space or redirect new business streams to the area. Reducing large volumes of paperwork, whether it be files, invoices or contracts, allows you greater flexibility with your physical location.

Greater efficiency

When it comes to digitising your business, a streamlined process is both a time and costs saver. On top of that, the time and cost saved in converting your files compared to maintaining and storing physical copies can be directed into alternate business goals or revenue streams.

Open new marketing and sales opportunities

In addition to moving information online, digitising your business could mean transitioning the entire process online. Using a web oriented approach could mean removing the entire cost of physical locations.

Having an online presence then allows for both a nationwide and worldwide target market with real time analytical options to tweak business needs or social media responses as required. In this respect, digitising your business can increase your presence, reduce your overheads and ultimately create profits for your company.

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