2013-02-04 00:00:00 Technology English https://quickbooks.intuit.com/in/resources/in_qrc/uploads/2017/05/11016436_s-300x1691.jpg Automate for Cost Reduction

Automate for Cost Reduction

3 min read

Need for speed could be the mantra for business organizations to keep pace or stay ahead. Gone are the days when all work was done manually and without computerized help. Technology is fast evolving and often the challenge for organizations, especially for small businesses, lies in being forward-thinking, both strategically and financially. For a business to survive, it needs to constantly work towards lowering operating costs and increasing productivity. Automation proves to be a suitable solution to this challenge. Automation has helped companies reduce and simplify workloads, responsibilities and tasks. However, for small businesses, automation can be a daunting task. The high costs involved, the management’s mindset and employee training are some reasons why smaller businesses refrain from automation. But smaller companies need to understand that automation has its advantages in terms of operational nimbleness. Automation helps organizations increase productivity, improve working environment, reduce high cost of human labor, improve quality and reliability, utilize floor space more efficiently, reduce waste and stay competitive. Following are some aspects where automation could help yield better results to companies almost instantaneously: Accounting: Probably the most confusing and time consuming aspect of a business, accounting still remains one of the most vital functions that one can’t ignore. Organizations spend handsome figures on accountants to handle the accounting and financial recordkeeping. Instead, companies can implement automated software that can handle all the accounting aspects. There is a wide range of accounting software that is available. To give an example, Intuit QuickBooks is leading financial accounting software for small businesses offering to help small businesses simplify all the hassles of complex accounts and finance matters. Social Media: For all companies, especially small businesses, it is essential that the organization constantly communicates and shares a great rapport with their customer base. Small businesses may not have the financial ability to engage a team exclusively to interact, reach out and respond to their customer base. For this, they can automate the responsibility to social media services. This helps organizations not only reach out to customers instantly and efficiently but also is easy on the budget. Tools such as Hubspot, Ping.fm and HootSuite are ideal to automate your social media marketing. Companies can draft and schedule automated responses and can update their social media platforms at different times. This is a quick way to interact with customers and a great way to engage actively with customers. Data Management: For companies, regularly monitoring and protecting your data is essential as data is more or less the backbone of the organization. A crash in software or hardware or any technical glitch could be a heavy loss to the company. Automated data backups avoid the risk of losing data. Unfortunately not many small businesses implement these backups as they find the implementation costly or they lack the technical knowledge. Sync to the Cloud: The cloud is one of the most convenient ways to simplify your workload and allocate tasks better. The data is easily accessible by everyone and most cloud storage services come with the client software that performs real-time document synchronization. For small businesses, the cloud is a cost efficient means to extract optimum performance from teammates. Today, businesses can automate email auto responses, payroll systems, social media systems, customer contact management systems, all which can be very helpful to function and streamline business processes. The main benefit of automation is improving productivity and generating higher output at reduced costs. The applications for automation are growing and the misconception that automation is expensive; time consuming and technical should be cleared. With automation, businesses can see a visible change in the functioning of the company, reduce costs and have optimum utilization of performance. Businesses need to understand the benefits and implement these applications to ensure a smoother functioning of work.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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