Technology is constantly changing the workplace. Business owners need to keep up with innovations to remain competitive against their peers. Small businesses are no different. No customer likes going into a business and seeing outdated technology. In fact, outdated computers, debit card readers, and other devices may encourage shoppers to go elsewhere. The technology behind the scenes is just as important as the tech used upfront. Here are three ways technology is improving record keeping for small businesses.
Automatic Tracking
Technology can ease the workload of the actual staff of a business and make day-to-day operations more efficient. For example, take record-keeping software. No longer will an employee have to manually subtract debit card transactions from the day to get the correct ending till.
Of course, this technology should already be present in most modern stores and businesses; however, newer technology is rarer. Some stores are still lacking basic technology that keeps track of items purchased in a store. This technology eliminates the need to track manual inventory. Some programs can even order new shipments when items are out of stock.
Eliminating Paper
This is another way a business can lower the cost of operations. Transferring to a digital-only record-keeping system will eliminate the need to constantly purchase paper. Technology can even check people in, and with visitor logs that sync to the cloud, you never have to worry about misplaced files. Paper often gets misplaced, but there is no way to misplace a file if it is stored in the cloud. Even if a business pays top dollar for high-quality software, it will see a return on the investment in no time at all.
Greater Customer Satisfaction
Nothing says professionalism like new technology. No one wants to use outdated card readers when paying for items or services. People are familiar with new technology, and it can throw them off when they see a device they haven't used in 10 years. There are many more reasons why a customer may prefer to use newer technology. Most importantly, it simply seems more secure than outdated devices.
If a small business wants to remain competitive and profitable, it needs to seek out new technology. In fact, introducing and utilizing this new technology isn't as costly as it seems either. There is even free, open-source software available for download that can handle most of a business's needs.
Cyber Insurance
Since almost all businesses use some form of technology nowadays, it is important to protect that data. Did you know that companies of all sizes have a chance of being the victim of a cyber crime? With Cyber Liability Insurance, your business and customer data will be protected in the event of a cyber attack or data breach. Different types of cyber threats are becoming more popular every day, making this policy something to strongly consider.
We were able to help a client save $150,000 because of a Cyber Liability policy in place. You can read about it here.
If you would like more information on how Cyber Insurance can protect your business, give us a call at (303) 279-9700, or fill out the form below.