Tech Solutions to save your IT Business during the current economic turmoil

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The UK is currently experiencing a cost-of-living crisis, for both people and businesses alike. This has pushed the economy to the brink of a record-breaking long-term recession, as forecasted by the Bank of England.

So, how can businesses save money on their tech solutions during these unpredictable times? Let’s take a look.

List of Tech Solutions to save your IT Business:

Host it in the cloud

When technology goes down, it can bring your entire business to a halt. It goes without saying that business downtime can lead to lost revenue, so it’s important to look at cost effective solutions that are more reliable.

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VoIP telephony boasts greater reliability and call quality than PSTN or ISDN. Not only that, but if your phone line ever was to go down, it can be instantly fixed by the provider remotely, meaning there is reduced downtime in the event of a disaster.

In addition to this, you can get very cost effective business VoIP solutions, such as the Horizon Hosted Phone System. These phone systems can be tailored to your workforce so you never have to pay for more than what you are using.

Automation

Automating your processes can reduce the risk of potentially costly errors, the need to manually audit, additional daily tasks, and more. Due to improved efficiency, you can save money on the additional technology that you would normally need to carry out manual processes or fix any hiccups.

In fact, one study reported by Forbes found that automation can save businesses $4 million, and employees, 240 hours every year, a significant saving especially in the cost-of-living crisis.

Streamline your communications

Take a look at your communications platforms – you’ve got your phone and phone line, internal instant messaging, both internal and external emails, customer service live chat, social media direct messages and mentions, voicemail, video calling software, and more.

If you are paying for each platform separately, the costs can begin to add up. Instead, consider a unified communications platform, which combines all methods of communication into a singular solution.

Unified communications are hosted in the cloud, too, so you can benefit from all the flexibility of other cloud-based solutions, and additionally integrate your business VoIP into the platform for a comprehensive communication system.

Take stock of the tech you own

When people were forced to work from home en masse during the coronavirus pandemic, many businesses will have had no choice but to invest in new, transportable technologies to allow employees to work from home efficiently.

Now that we are mainly returning to the office, you might now find that you have a surplus of technological devices, such as business mobile phones, laptops, monitors, PCs, printers, scanners, and so on.

Take stock of the technology that you now own and calculate how much of that you actually still need. Where you inevitably have duplicates and now unnecessary equipment, consider selling them online to give you a little extra capital.

Invest in efficient technology

Overall, as you can see, the focus during times like these must be on efficiency. By considering technology that boosts employee efficiency, is a cost-efficient investment, and is efficient to run, you can help your business to save money in the long run, and further help to weather the storm.