The business world has revolutionized almost beyond recognition in the past few decades, with technology most notably changing the face and the pace of business. Because of this, SMBs can successfully compete with larger competitors by using technology to its fullest capacity. Syndeo Communications, an IT consulting company in San Diego, share some of the ways SMBs can compete with the “big guy”.
Online Advertising
There are many cost-saving benefits for SMBs when it comes to using technology to promote business. Not only will advertising in this way be cost-effective but it will reach a much wider consumer base, with only a fraction of the price of traditional advertising methods.
If you compare the initial investment of implementing a website to traditional advertising methods such as newspapers and radio advertising it does make financial sense. Professional websites can be costly, but the pay-off in terms of a global presence can be worth the money. Reports have shown that advertising online increases customers by around 50%. Profits have also shown an increase by around 60%.
E-Commerce
Enter e-commerce, SaaS-style. Now SMBs have the ability to add very sophisticated, end-to-end e-commerce to their websites with little-to-no technical know-how. Now shopping carts, product catalog management, shipping, taxes, and mechanisms for receiving payments are all just a few mouse clicks away for any business that wants to sell online. Not only that, these platforms enable SMBs to surface their online stores on Facebook, share product purchases on social media networks, manage their stores via mobile phone, and more. And all of this functionality can be had for as little as a few dollars per month.
Cloud Computing
For many smaller businesses, cloud functionality is only about storage and backup, but it can also be utilized to streamline finance functions, i.e., processing invoices, managing payments and planning cash flow, reducing the time needed to ensure compliance. All a business needs to achieve this is access to a scanner. Cloud services enable SMBs to scan every invoice when it arrives at the office, immediately ensuring that there is a secure and backed up copy available to find online.
Automation and Streamlining Software
A real business breakthrough comes from new complex software that extracts the information on an invoice and automatically imports it into a payment system or workflow. Cloud-based invoice systems enable small-to-medium businesses to take advantage of services that were previously only available to larger companies.
While this may sound like a small change, it can have a transformational effect, particularly if the Cloud service also has a Mobile App. Staff are freed from processing invoices and Managers are able to approve invoices wherever they are, rather than spending valuable office time processing piles of invoices. The most sophisticated systems will be able to handle invoices that arrive from different sources: email; pdf; paper; XML or any other format.
Virtual Offices
SMBs are on the forefront of embracing Virtual Offices to boost business efficiency, cut costs on rent, IT equipment, phone service and supplies, while providing more flexibility to their workers.
Affordable mobile devices and ready-access to Web and company resources enable SMBs to utilize the Virtual Office, presenting themselves to the public sector as one of “the Big Guys.” VOs can offer a variety of services such as a prominent mailing address, mail and package handling, complete phone and messaging/answering services as well as the use of conference, meeting and party rooms. Virtually, everything an SMB needs to operate.
Virtual PBX Technology
A Virtual PBX, or hosted Internet phone system is an advanced PBX technology that many SMBs are using to help them (cost effectively) project a larger image and enjoy advanced telephony services at the same time. With a Virtual PBX, a third party communications company hosts phone services, routing all calls through an Internet connection. There are no high installation or maintenance charges or equipment upgrades, since the software that manages VoIP (Voice over Internet Protocol) system is resident with the provider.
In addition to routing calls to other phones, many virtual PBX services provide a host of other features, such as text message alerts on your mobile or smart phone or email alerts. When someone dials that number, the IP telephony system routes the calls to other numbers (desk phone, cell phone, etc.) If, after routing the call to all the selected numbers and there’s no answer; the system can leave the call in voice mail where can be read, or with speech-to-text capabilities, listened to. With new mobile devices and a headset, an SMB can be available to customers and prospects anywhere at any time.
Leveling the playing field so that SMBs can effectively compete with larger companies is a lot easier today and a Small-to-Medium Businesses should take advantage of applications and services normally associated with larger organizations by utilizing emerging technologies. For more information about the best technologies for your business, call (760) 650-3300 and schedule a free consultation with an experienced IT consultant from San Diego IT support company, Syndeo.