The machinations of the business model and workings have been extraordinarily altered by the advent of the digital world. The costs and time involved in business models can be reduced exponentially with the use of the right technology. Whether you’re letting your clients schedule themselves or you’re depending on an online service to replace your accountant, here are 7 ways to use technology to reduce your business costs.

Network your computers

Today’s technology will allow you to share your desktop with your employees all over the world. Rather than emailing presentations and waiting for feedback, you can get immediate response.

Call using conference technology

It’s called VoIP, and no matter what phone you have, there are plenty of choices for a conference call technology system that doesn’t cost a penny. In fact the newest call systems allow you to share presentations as you speak. Where you might have spent $35 on a call to Italy, you’ll now pay nothing. You’ll save on phone minutes and airfare if video conferencing can stand in just as well.

Use Management Software

Management software allows businesses to import data and apply existing databases to new software. You can have your clients’, employees’ and vendors’ information at your fingertips whether on your phone, laptop, or iPad. Many programs even allow you to automatically commit information to your software.
If you manage clients through management software online, you won’t have to pay a full-time receptionist to answer phones or schedule appointments. You’ll also spend less time on the phone yourself.

Market for free

Facebook, Google, and Twitter are great resources for free viral advertising that works really effectively. In fact, more people check Facebook everyday than read the newspaper, so paying for ads in print work is becoming a way of the past. You can also use Craigslist and other local online mediators. Also, make sure to set up a website as soon as you get your business license. The likelihood of a business succeeding without a website is particularly low.

Dial in your payroll

One of the biggest time suckers for new entrepreneurs is the payroll vortex. It’s easy to get sucked into the time-consuming administrative activities that are necessary to keep a business going. You don’t have to pay a company to take care of these administrative duties. Technology is a great substitute. There are several programs available that will allow companies to handle their employees’ paychecks without taking their time.

Get your finances linked in

Using a financing app or software program will help you to manage your overall finances without spending the time on your own or the money on an accountant. Apps and software programs connect all of your accounts and compile your payments and money history into easy-to-analyze reports.

File sharing

Investing in a Dropbox that allows you and your employees to share large files for free will help you save time and money.

Successful businesses cannot lag behind the competition when it comes to technology. If your competitors are saving a lot of money and time by implementing less expensive modes of operating, you won’t last in the market. Find out more about your digital resources, and you’ll see success in between the 1’s and 0’s.

Stacy Hilliard is an article writer for several education blogs. If busy running a business and interested in earning an MBA, check out NEU Online or other online business degree programs.