Cost-Cutting Technology Ideas For 2023
It can feel like you are always playing catchup as tech progresses and become more complicated by the day. And this can be annoying if you aren’t tech-savvy. But it has its uses, such as reducing expenses. So, here are some cost-cutting technology ideas for your business.
Embrace Artificial Intelligence
Artificial intelligence has an endless number of uses. Yet far from the human-killing machines of science fiction movies, AI is a great way to manage tons of data. For example, AI apps like Pitstop fleet maintenance software use predictive algorithms to help reduce the costs of running company vehicles. To do this, the AI analyzes over 7 billion datasets for insights into fuel efficiency, engine airflow, and even the quality of the brakes on your fleet’s vans and trucks.
Cost-Cutting Technology Includes the Cloud
Of course, you have probably heard of the Cloud. Cloud computing is vital for a modern business. And it can save you a lot of time and money. One way is its simple data backup methods. If you have ever had a computer data disaster, you will be aware that it can be expensive to restore or even destroy your company. But you can also save money by using cloud apps such as operating systems, collaboration apps, and office management systems.
Manage Customers with Data and Apps
Customers are vital when running a business. But managing just a handful becomes a nightmare. That’s where Customer Relationship Management (CRM) software comes in. Like an electronic Rolodex, CRM helps you keep accurate data and records in one easily accessible and convenient place for when you need them. As such, you can improve communication with all of your valuable customers because you always have the details you need at your fingertips.
Communicate and Work Remotely
There has always been a need for remote work. But the past few years, owing much to the pandemic, have highlighted how convenient it can be. Some easy ways to include it are:
- Allow employees to access the office network from home to get work done.
- Hold teleconferences and meetings using audio and video technology.
- Upskill your core teams with webinars live using Facebook and YouTube.
- Include collaboration apps as part of your overall workplace plan.
- Invest in new apps as they become available to keep up with modern trends.
- Increase productivity and workplace well-being with virtual yoga and workouts.
- Include open lines of communication that all workers can easily access.
Any of these makes getting more work done easier than ever. Even holding meetings becomes hassle-free. And you save money with webcam meetings rather than “wining and dining” clients.
Use New Tools to Modernize Your Marketing
One of the most valuable tools in your modern business kit is marketing. No longer do you have to rely on expensive TV, radio, and paper and magazine ads? But now you have a myriad of options, many of which are even free or cost very little. For example, of course, you can hire an SEO strategist to spread you across the web. But you can also go digital and enhance your web presence with a social media campaign taking advantage of user engagement and useful data.
Manage Time with Cost-Cutting Technology
There are many valuable apps you can use when time means money, as with most businesses. These include apps for making the most of employee time, such as Focus Booster. But also apps for tracking billable hours and meetings, such as Toggl. Time management apps are also useful for setting up daily and weekly schedules, opening up slots for meetings when you are time-poor, and making sure everyone is on the same page with a shared agenda and calendar.
Use AR and VR where Appropriate
Augmented reality and virtual reality can be a large initial investment. However, once set up, they offer cutting-edge ways to manage certain aspects of your business in a truly modern way. And can save money. For example, you no longer need to develop expensive prototypes of a new product. You can use AR and VR to show investors and prospective customers what they need to see in a virtual demonstration, such as a new car to be released soon, for instance.
Some of the best cost-cutting technology ideas that modern clients, employees, and partners expect are available right now. Of course, there is an initial price. But you can save money with AI and automation, remote and virtual work methods, and using AR and VR where necessary.