Adopting digital transformation can be good for business. Recent studies show investing in new tech saves small business both time and money by improving productivity. Is it time you considered an upgrade?
NAB’s Moments That Matter whitepaper reports that one in ten (12 per cent) SMEs are in a constant state of expansion and suggests investment made by businesses over the last 12 months also demonstrates a focus on growth. All this growth is placing pressures on small businesses to improve their productivity and processes, which leaves them searching for answers.
While there are many ways in which businesses can improve productivity, upgrading equipment and technology can often streamline processes. Investing in tech can provide greater flexibility, improve employee satisfaction, allow you to automate systems and have greater visibility across your business. How? Let’s start with the cloud…
Switch to the cloud
The days of storing all your important data on a physical server located in your office have long gone. The modern workforce demand access to data and files anywhere, at any time. In order for a business to keep up with this trend, they need to opt for cloud-based storage solutions. Switching to the cloud for your software and data storage delivers greater flexibility for your business.
Join the work from home revolution
A recent study by Seek found the majority of employees would also consider leaving their existing job for another role which gave them the benefit of working from home. So, isn’t it time you considered setting up your employees to work remotely? With the 20k instant asset tax write off extended for another 12 months, it’s the perfect opportunity to upgrade existing tech and save both time and money while also improving employee morale. By upgrading your technology you can take advantage of more powerful processors which also equates to greater productivity.
Ditch the paper
Most businesses can benefit from going paperless. Switching to electronic records not only saves you money on office supplies, filing systems and essentials like paper and ink it also provides easier access to searchable client records. Whether you’re ditching the spreadsheets and switching to a CRM system or a cloud-based accounting solution, electronic records can deliver real-time data on the financial health of your business. Having a 360° view of your business is just one benefit of going electronic.
Are you considering upgrading your tech? A NAB QuickBiz Loan could assist you in financing the new tech you need.
The information provided in this article is intended to be of a general nature only. It has been prepared without taking into account your objectives, financial situation or needs. Before acting on the information in this article, National Australia Bank Limited (ABN 12 004 044 937, AFSL and Australian Credit License 230686) (NAB) recommends you consider whether it is appropriate for your objectives, financial situation and needs. NAB recommends that you seek independent advice before acting on any information in this article.