Will investing in new technology boost your small business?

Regardless of size, every business relies on some form of technology for marketing, communication, and data recording.  Technology can streamline business processes to ensure greater efficiency and enables products and services to be promoted more creatively.  There is no denying that the right technology can move your business forward, but will new technology deliver noticeably better performance than your existing solutions? In this article, we highlight why businesses should leverage modern technology to boost their business’ bottom line, and how Bartercard can help you do just that.

AN ACCESSIBLE RESOURCE

In the world of modern-day commerce, streamlined technologies are essential, and perhaps even more so as the country engages in recovery following the pandemic crisis. You need every advantage you can find to compete with bigger and more established companies. Small businesses can sometimes be too risk-averse and resist dedicating meaningful capital to software developments and other expensive technologies. However, the real cost of any technology will depend on your decisions as a business owner. Think of your business technology as an investment. You would not invest in stocks and shares if you did not think they would perform well and grow in value, so treat your technology the same way. Research new technologies to see if new products on the market today can offer more vital functions than your current setup or can perform the same functions more effectively. By evaluating your business and learning how existing technology can help you, you are positioning your business to perform at a higher level, like a stock investment you can actually use!

BUILD CLIENT TRUST WITH SECURE TECHNOLOGY

Consumers are not only looking for companies to buy from, they are also looking at those businesses they can trust.  New technologies offer stronger security systems, so you can better protect your business networks. When your business is prepared for cyberattacks and data breaches, you eliminate the costly fallout of a critical IT disaster. Customers reward this type of security with loyalty, which is a very valuable asset for any business to have.

ENHANCE CUSTOMER INTERACTIONS

As a business, you need to constantly look for ways to maximise online opportunities. Modern accounting and reporting software can add professionalism and polish to your business by offering more sophisticated and attractive client-facing documents. Consider new technologies that improve your presentation and deliver a more convenient and comfortable user experience for your customers.

IMPROVE EFFICIENCIES

Often, technology can be considered a threat to the workforce with automated systems, and a means to replace human interaction, but this is not always the case.  Small businesses can invest in technologies that boost business productivity and streamline operations, without removing the human interaction with customers.  Smaller businesses should embrace technology platforms that provide solutions for gaining new customers, while also making life easier for your employees.

BUILD YOUR BUSINESS WITH BARTERCARD!

With proper utilisation, small businesses can make technology work to their advantage. As you improve your operations, your employees will need to spend less time on manual tasks, your data will become secure, and customer interactions will improve. When you invest in technology, make sure it fits your unique business needs. Build your business with technology already available to you. Bartercard is an immense online marketplace where you can engage in bartering your company’s slow-moving stock and idle inventory for extra sales with 10,000 cardholders!  Being a part of the unique community of like-minded businesses will open up your business power to expand your network, gain new customers – and all through the digital currency of trade dollars.    

Visit bartercard.co.nz for more information.