{"id":1445,"date":"2019-09-05T22:55:58","date_gmt":"2019-09-05T12:55:58","guid":{"rendered":"https:\/\/wealthpathaccountants.com.au\/?p=1445"},"modified":"2019-09-05T23:01:15","modified_gmt":"2019-09-05T13:01:15","slug":"5-tips-on-how-to-use-technology-to-save-on-business-costs","status":"publish","type":"post","link":"https:\/\/wealthpathaccountants.com.au\/index.php\/2019\/09\/05\/5-tips-on-how-to-use-technology-to-save-on-business-costs\/","title":{"rendered":"5 Tips on how to use technology to save on business costs"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"> <strong>(And a concrete example) <\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">1\nGet rid of your landline and go mobile phones and VOIP (internet\ntelephony).Do some research and you will be amazed at how much money\nthis can save you.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2\nInvestigate technology. There are some new technologies that can be\nmajor cost savers for your particular industry or service. You just\nneed to find out what they would be. It depends on what you do but\nthings like Point of Sale options, GPS, phone apps, teleconference\nservices, cloud services, online accounting and more. Do some\nresearch!<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">3\nGo paperless. Apart from saving the environment. Not spending money\non paper, ink, envelopes, filing cabinets, postage and people to do\nthe work (and the administration and record keeping for all of this)\ncan be a major cost saver. Having everything possible electronic is\nalso easier to manage and means you can back up everything remotely\nin case of disaster.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">4\nCut back on software. How much of that expensive software you have\ninstalled is regularly used? Consider open source (i.e. free)\nsoftware and also look at renting software (SaaS or Software as a\nService). \n<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">5\nMarket online using websites, ecommerce, social media and other\nonline channels. This is the way business and services are going\nanyway. So you don\u2019t really have achoice. But online marketing can\noften be much cheaper than traditional methods. Admittedly though,\nonly if you do it right. Do research and maybe even pay for help in\nthe short term. But online has the potential to reduce costs but also\nincrease revenue.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>But let\u2019s give you a concrete example of how new technology can save you money, make you money and just as importantly \u2013 save you time!<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Consider online bookkeping\/accounting services. Wealthpath Accountants are Xero Bronze Partners and we chose to work with Xero for a lot of good reasons (but we can help you with any cloud based accounting software).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\nOnline\nbookkeeping is designed from the ground up to make things as easy as\npossible for you and to integrate with your business \u2013 no matter\nwhat your business actually is. \n<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"> <strong>The key advantages include.<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li> Less paperwork.<\/li><li> Major time saver.<\/li><li> Great for inventory management.<\/li><li> You really don\u2019t need to learn much to use it.<\/li><li> More efficient and streamlined.<\/li><li> Everything (reporting requirements, legislation, tax)  is already integrated into the software.<\/li><li> Changes in legislation or reporting requirements are added by Xero for you.  <\/li><li> You can do anything from your phone (you can manage your business from ANYWHERE).<\/li><li> Everybody in your business is accessing and adding the same info to the same place.<\/li><li> It\u2019s stored and backed up safely and securely.<\/li><li> Somebody else is looking after it, keeping it updated and safe.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s not just accounting and bookkeeping &#8211; there are many, many add ons and services that integrate with Xero that can be a huge time saver and a huge boost to the efficiency and profitability of your business.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\nThere\nare a whole lot of apps to choose from but for example\u2026&#8230;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li> Vend (a Point of Sale plugin for Xero).<\/li><li> Shopify (an e-commerce platform for selling online that integrates with Xero)<\/li><li> Z Fuel Card (for managing business fuel costs).<\/li><li> Mailchimp (email service for email campaigns and mass emails).<\/li><li>Tanda (payroll and timeclock for you and your staff)<\/li><li>Chaser (very smart app for getting customers to pay invoices)<\/li><li>Hubdoc (for document management)<\/li><li>Quotient (for quotes)<\/li><li>Fluidly (for analysing and reporting on cash flow)<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">The point is that technology can offer any business, large or small, opportunities to enhance and grow your business and make you more money. Do some research and don&#8217;t be afraid to think outside the box. Something that a florist does might have applications for an engineering firm &#8211; or vice versa. Be open minded and talk to people.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Have a chat with us about how we can impliment bookkeeping solutions tailored to your requirments. The first consultation is free. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>1300 268 800<\/strong>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tCall Now!\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(And a concrete example) 1 Get rid of your landline and go mobile phones and VOIP (internet telephony).Do some research and you will be amazed at how much money this can save you. 2 Investigate technology. There are some new technologies that can be major cost savers for your particular industry or service. You just 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