The world of technology is often seen as a world of investment and innovation. Although many major businesses spend heavy resources on new technological breakthroughs or bleeding-edge tech, there are some cost-saving options.
Entrepreneurs who start their businesses today are entering a world ripe with information and best practices. Struggling happens as businesses try to make their mark on the global stage, but new businesses who want local, regional appeal have great opportunities. Here are a few ways that technology powers entrepreneurship through lower costs, efficiency, and better idea delivery.
Automation is Yesterday, Not the Future
Why click the same button on multiple screens? Why type the same words or numbers into multiple forms? Why do any repetitive tasks hundreds, thousands, or millions of times?
From scripts that can enter repetitive data into your apps and forms to assembly line machines that can handle specific factory tasks, automation has become the modern phase of efficiency. Like assembly lines and robotics in headlines of the past, automation has to be embraced for higher volumes.
At its core, automation is all about programming your digital assets to do work on its own — pre-programmed entries for fields and forms that you already know in the past. Today, Artificial Intelligence (AI) assists automation by figuring out what to do with changing, but similar tasks. It’s all about figuring out patterns. That said, if you’re starting a new business, you benefit from having lots of old-world automation that can cut down on paperwork and most repetitive tasks.
Speech-to-text, massive administrative tasks, and handling basic customer service issues can happen with commercial on the shelf (cots) software or services from managed IT services companies who can tailor their tested techniques to your needs.
Once you confirm that your business is moving faster and more efficiently, you can fold those savings into other parts of your business–or figure out what experimental reaches of artificial intelligence can do for you.
Digital Point of Sales (PoS) Saves Money
Cash registers have been in trouble for a long time. Throughout the 1980s and 1990s, the electronic cash register has been a bug-ridden necessary evil that was faster than the old crank-operated cash register that could be fixed with a screwdriver if needed.
Modern PoS terminals are faster, more efficient, and include a lot more features. Although there was a short period where digital PoS terminals suffered the same woes as error-filled Windows and Mac computers, the current age has fewer tech problems. With a digital PoS terminal, you can handle business the old way or in many new ways. You can either create your inventory database using the PoS company’s system or import your existing inventory if you’d like to stay vendor-neutral.
You can handle cash payments and many types of digital payment. With so many cryptocurrencies and possible future currencies coming out, digital terminals will be a necessity.
For receipts, your customers can either print paper, send an email, send text, or opt-out of receipts entirely. This also delivers an important layer of consent, as customers can sign up for your newsletters and become part of the brand by their own choosing.
Modern technology has a lot to deliver to entrepreneurs. Contact a business technology expert to discuss ways to revolutionize your new idea or to reinvent parts or entire concepts of your business.