What matters most in business is your ability to adapt to the changing world around you.
However, many businesses continue to use outdated technologies that are not fit in today’s digital economy. With 55% still using fax machines, and 56% are still using flash drives. There are far too many businesses still relying on spreadsheets (83%) when there are more convenient ways to report, track and plan for success.
Of those businesses that use spreadsheets, 68% use them for accounting purposes, 56% use them for office management, and 49% use them for financial planning.
These figures are very high. Spreadsheets require manual input, a substantial time investment, and reliable accuracy. There’s no reason to cling on to them besides habit. Technological tools can automate much of the data entry process and provide fewer errors.
The most alarming fact is that if businesses can’t keep up with change, they will be outrun by it. Looking into the future, consider the time and money you will save in the long-term by adapting to the right tools.
If you are consumed by inefficient processes, you won’t be able to properly serve your customers or pursue new prospects. Both will expect you to be tech savvy, and if you are not, they will turn to your competitors.
However, not all businesses are stuck in the dark ages. Over half are running their businesses from their smartphones. Hardware is only one component of mobile business. Cloud technology is becoming increasingly essential for businesses allowing staff to efficiently work from anywhere, and at any time. Almost 70% are already using the cloud and believed it will save them time, money and improve efficiency.
The modern office environment demands modern technology. It is crucial that small businesses embrace the latest tools available in order to succeed and keep up with competitors. Our investment advisers at Sedley Koscher are driven to provide the best financial solution for you.
Here’s a few of our picks for today’s digital economy:
Dropbox.com – What is Dropbox? Dropbox is a home for all your photos, documents, videos, and other files. Dropbox lets you access your stuff from anywhere and makes it easy to share with others.
Info pulled from: httpss://www.xero.com/blog/2018/02/82408/