6 Technology Concepts That Can Help Startup Companies Reduce Operation Costs

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6 Technology Concepts That Can Help Startup Companies Reduce Operation Costs

Technology has significantly impacted the business world by automating various processes resulting in increased productivity and speed, fewer human errors, and ease of information sharing. These benefits have helped enterprises lower their operation costs and grow their revenues. In this article, you’ll learn about the technological concepts that can help you lower costs in your startup company.

1.   CRM Software

Customer relationship management (CRM) software are systems that enable business owners to nurture relationships with their clients and track all communications with ease. CRM platforms consolidate documents, purchases, quotes, tasks, and communications associated with specific clients in one place. Your team members can easily access such details and utilize them to deliver outstanding service to customers or successfully close sales. You can integrate your company website with your CRM tool to enable you to build a comprehensive profile of clients, personalize their experiences on your site, and increase your sales. According to BANG! Web Site Design (https://www.bangwebsitedesignphoenixaz.com), a web design company, ‘’The main goal of a website is to lead to a sale.’’ With a CRM-powered website, you can effectively achieve this goal. 

2.   Teleconferencing

Teleconferencing communication tools allow businesses to host meetings among participants in different locations. Although this strategy is mostly used by businesses with multiple locations, startups can also maximize this technology and lower business costs in the process. You wouldn’t need to spend money traveling long distances to meet with prospects since you can host meetings with them from your office and close big sales. Interestingly, acquiring a teleconferencing tool does not cost so much. You can even start with any of the free options, such as GoogleHangouts and MeetingBurner, which are available on the internet.

3.   Cloud Computing

Cloud computing technology enables businesses to store and access programs and data over the internet. Instead of storing your data on a hard drive, you and your team members can access files and servers through internet-connected devices, such as smartphones, tablets, and computers. Some of the popular cloud computing providers are Apple iCloud, Amazon Cloud Drive, Dropbox, Google Drive, and Box. With cloud computing, businesses of any size can maximize cutting-edge technology without making huge investments in buying and maintaining traditional software and hardware. Generally, cloud computing uses a pay-as-you-go pricing model, which saves your establishment from paying for software you did not use. And since you can easily cancel your subscription anytime, you’ll have a lower financial risk of software that doesn’t suit your business’s needs.  

4.   B2B Integration

Business-to-business (B2B) integration refers to the automation of key business processes and communication between different organizations, allowing them to trade and work more effectively with their customers, partners, and suppliers. B2B integration is carried out on platforms that provide the architecture required to digitize and route information through an organization’s trading environment. There are various B2B integration solutions on the internet. It’s crucial to ensure that the one you choose has features for business activity monitoring and management, global partner enablement, and electronic data exchange. Companies use modern B2B integration solutions to boost efficiency, increase revenue, and achieve other business goals like speeding time to market (TTM). Furthermore, B2B integration lowers overhead costs and eliminates the need for clerical document preparation, data entry, sorting, and circulation of mail.      

5.   Webinar

Webinars are online events hosted by organizations and broadcast to specific groups of individuals through the internet. Webinars are excellent tools for building brand awareness, generating leads, and introducing companies’ products or services to new audiences. Consider introducing webinars into your marketing strategy to allow you to connect with a wider audience. Since you won’t need to pay for venues or fund other logistics that come with hosting physical meetings, you’ll be able to save costs for your business. Some of the webinar tools available online are Skype, Google Hangouts, Zoom, AnyMeeting, and Gotowebinar. You can host different forms of webinars, such as product, educational, panel, Q&A, and networking webinars, to suit the needs of your marketing plan.  

6.   Social Media Scheduling

Social media is a powerful marketing tool that most businesses adopt to grow their sales and solidify their online presence. Keeping your social media audience engaged with valuable content requires planning. Instead of employing someone to manage your social handles, you can use social media scheduling tools, such as HootSuite and Buffer, to schedule posts to go out on specific dates and times. Once you’re able to write up a week’s posts or promotions in advance, the scheduling system can post them without you having to log in to social media sites all the time.