Is Your Business Addicted To Expensive Tech?

Technology is helping businesses all over the world save time, reduce costs, and making like easier for everyone. But the vast array of technology available means that in many cases, businesses are overspending by significant amounts on devices, services, and new expensive tech. It could be unnecessarily large server space, or it could be investing in overpriced Apple Macs that you don’t really need – and all that money you are spending could be used in far better ways.

So, while technology is critical to most businesses these days, it’s vital to ensure you are using it the right way. And you also need to make sure that your costs and spending are kept down as much as possible, as well as keeping a beady eye on productivity. In today’s guide, we’re going to go through some of the areas of your business that could be costing you too much in technology terms, and how you can save money, boost your bottom line, and free up cash for more important things.

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Time and money

First of all, we need to take a look at the costs of your business. There’s money, of course, which we all need to keep an eye on. But there is also time to consider, too. So, when it comes to finding the right technology for your business, you have to have these two simple factors as a guideline – will technology save you money? And will it save you time? In an ideal world, the perfect tech for your business will cost you less money to do a particular task, while also doing it quicker.

Servers and databases

There are still many businesses out there who are yet to embrace cloud technology and insist on running their own expensive and time-consuming servers. Some industries and companies need to be dedicated IT equipment for security reasons, of course, but for the vast majority, it’s unnecessary. Look at colocation price against the costs of running your own data center, and you will see that the former can be far more efficient than the latter. Cloud servers are also a lot easier to scale, so are a fantastic option for businesses looking to achieve rapid growth – as your company gets bigger, so you upgrade your service to accommodate your needs.

Bells and whistles

There are a lot of impressive software, devices, and technology equipment out there which can be incredibly appealing to businesses. But are they necessary? Yes, they help you look good in front of your customers, but the reality is that unless you are using every feature, you are overspending. Make sure you are only paying for what you need, and you will find that your technology costs go down by a significant amount.

Out with the old

That said, one of the biggest time and money drains in your business will be all the old systems and devices you are using. Old computers require more maintenance and often run slower than brand new ones, for example. Perhaps you are using an old telephone system, too, which could be replaced by a cost-efficient VoIP system? We’re not saying you should invest in brand new devices every year, but there will come a time when your old equipment starts to pack up and has an impact on your productivity.