5 Advanced Technologies That Can Save Business Expenses

This advanced technology can help your company to save more expenses. (photo: doc. pixabay)

JAKARTA - Over the past few decades, especially since the Covid-19 pandemic, technology has completely changed the business world. The emergence of various sophisticated tools greatly affects the way a company operates in terms of growing, communicating, competing, and significantly reducing costs.

The following are some digital-based technology concepts that are most widely used by business people to save office costs and expenses.

Webinar

Webinars, or web based seminars, are a seminar concept that utilizes technology so that it can be done remotely. If with a seminar you have to bother renting a building, preparing quite a lot of presentation tools, making sure that electricity has used the best electrical cables that don't break easily, spreading out invitations, catering, and so on, then with webinars everything becomes much easier, because everything is based online. .

In the end, this advanced technology can help your company to save more expenses while increasing revenue, because it will be easier for you to reach more participants who convert into customers.

Cloud Computing

Transferring important data to the cloud is a smart way to cut business expenses. This tool can help you reduce the cost of buying paper, filing cabinets, copiers, and other supplies. Instead of storing documents in physical form, you can instead put all work-related information online to increase productivity and data security.

The use of cloud computing does require you to pay a monthly fee to the service provider. However, this price is still cheaper than if you have to build a special room for storage cabinets or hire a team of internal specialists. In addition, another advantage of cloud computing applications is that they are updated regularly, thus ensuring your business gets the latest services at all times.

AI

AI (Artificial Intelligence) is the ability of a computer to control and run a machine without human assistance. AI technology can automate almost every activity of your business, from managing incoming messages, inputting data, sharing information, and even managing payments or invoices accurately.

This artificial intelligence has helped many companies to optimize business processes by correcting human errors and reducing overhead costs, thus putting you one step ahead of the competition.

CRM Software

CRM (Customer Relationship Management) software has revolutionized customer service and analytics over the past few years. This technology allows you to maintain and develop stronger connections with customers to increase loyalty and gain a better understanding of them. To date, CRM software has significantly helped save business operating costs by maintaining a smoother and more efficient workflow.

Teleconferencing

Even before the Covid-19 pandemic, teleconferencing had become the most popular way to connect with clients, investors and other professionals, anytime and from anywhere. However, recently the technology has exploded and is used by many companies because it can increase cost and time efficiency to facilitate important meetings through digital spaces.

Document Automation Software

Managing documents in a company is not easy. There are so many documents, ranging from invoices, contracts, Purchase Orders, and so on, where it is often difficult to understand the entire contents of these documents for decision making. Imagine the time wasted if you had to read them one by one. But now there is document processing software technology that can intelligently understand the content of text and even images in a document to provide the insight and analysis you need from the document.

Project Management

This is a technology where various parties in a company can collaborate with each other for a project, so that everyone can get updates and know the progress of the project. The types of companies that often use this kind of technology are digital marketing agencies, software companies, technology companies, contractors, startups, and e-commerce.

The efficiency produced by this kind of application is no joke, because it allows every employee involved to be productive even though they are mobile or working remotely, especially during the WFH period during the current pandemic.

It is undeniable, spending money to invest in technology does seem expensive at first, but in the end these sophisticated tools will soon reap far more profitable results, even hundreds of times. Apart from enabling you to reach more consumers and driving business growth in a positive direction, this method can also help your company to save money while bringing you more profit than you might think.