Many companies can benefit from embracing the latest technology. Some of this technology may even help your company to save money by speeding up tasks or spotting disasters early. However, there are other pieces of tech out there that could simply be eating away at your finances without offering many practical benefits. Here are just some of the big ways you could be wasting money on tech and how you can solve this issue.
Is your company using unnecessary amounts of software? Many of us have programmes installed on our PCs that we rarely use. It’s possible that you could be paying for some of these programmes – you may only be paying a couple dollars a month, but this could add up over the cost of a year. Get rid of these unused programmes that are cluttering up your computer and save yourself some money.
On top of these unused programmes, consider software that you may be able to consolidate. Rather than paying for a project management programme, a payroll programme and an accounting programme, consider combining all these types of software into an all-in-one programme that costs less to run each month. There are many general business programmes out there that handle all of these processes.
You could even invest in your own custom software. This could allow you to create the ultimate software to accommodate all your needs. Do your online research to find the top custom software development companies. Be wary of trying to create something too complex as this could cost your company a lot of money.
Pricy printing costs
Printers can also be an expensive and wasteful piece of technology. Many companies are now going paperless and doing away with printers. Almost all information can now be shared electronically. It’s even possible to sign documents electronically, so there’s no need to even print off contracts.
By no longer using your printer, you could also cut out the associated costs of paper and ink. If you’re not prepared to entirely say goodbye to your printer, consider bringing in a paper quota for staff members or limit print-outs to specific occasions. Whatever the case, aim to reduce your printer usage as chance are you’re printing off more materials than you really need to.
Needlessly complex tech
Many companies are guilty of buying machines that are needlessly complex for their needs. This is particularly the case with industrial manufacturing machinery – if you’re only producing small batches, don’t buy a high-end machine for mass production use, as you won’t make the most of this machine’s added capabilities. Complex tech may also be harder to use, making it more difficult to train staff how to use it.
Stick with basic technology if this is all your company needs. This technology is likely to be a lot cheaper to purchase because you won’t be paying for all the extra bells and whistles. To get an idea of how complex a piece of technology is before buying it, consider reading reviews and making use of free trials/demos that allow you to test the product out for yourself.
Power hungry machinery
Certain machinery may also not be very energy-efficient. This could result in high electricity bills. Some of this machinery could be cheaper to buy than greener machinery, which may tempt many people into purchasing it, but in the long run you could be spending a lot more. Start buying greener technology that won’t eat through your energy bills. An Energy Star rating can be a good indicator of a machine that is considered green – look out for machines with this rating.