7 Business Automation Software to Improve Your Bottom Line: We all know technology can help acquire new customers, increase productivity and manage employees in a better way. Did you know you can use technology to improve your company’s bottom time as well?
What is a Bottom Line?
A bottom line is the net income of a company. In other words, it’s the income left after deducting all the expenses from the revenue.
A few years ago, when I moved out of my mom’s house and rented my own apartment, I had to cut my expenses to save money for a trip to Europe. I was using Optimum cable at that time. To improve my bottom line, I planned to cut cable and switch to Optimum Internet only plan.
Of course, I stopped ordering takeout food and made some other adjustments. But eventually, I was able to save enough to go on that trip.
7 Business Automation Software to Improve Your Bottom Line
Just like that, business owners can cut their expenses as well. They can do it best by using business automation software. These are the 7 areas that can be automated with business software or tools to boost the bottom line:
It’s expensive for a business to operate on landline and mobile phones. But communication is an important part of the daily operations. Good news is it does not have to be expensive.
Thanks to unified cloud solutions, all communications can be kept in one place. Whether it’s emails, instant messages or your contacts, you can organize them in a single place to maximize efficiency. The inexpensive VoIP services let you call international clients at the fraction of cost. Some of the VoIPs also let you make free video calls. Skype and Voxox are worthy examples.
Keeping track of the finances is cumbersome. To stay on top of the game, you will need a separate accounts team to manage the payments, payroll, invoicing, and other finances. But technology lets you reduce the expense especially if you are a small business that cannot afford more manpower. Tools such as Wave and Intuit let you integrate your financial solutions to organize finances. You can also check your finances on the go.
#3: Project Management
If there is no coordination between your projects, this could be a huge waste of time and resources for a business. The project management suits such as Asana, Trello, and Taskworld can help you keep track of all your projects without missing anything.
It lets your team work together on a single platform. You can view the progress of each task, add notes and even keep track of the chats. Everyone will be on the same page related to the progress of their tasks.
#4: Online Payments
Paper checks make b2b payments inefficient. Buying envelopes, invoice stationery, and posting checks can cost a lot of money. You can switch to online payments instead. It’s a secure and affordable way of sending and receiving money directly into your business bank account. Such payments don’t even involve credit cards so you won’t have to worry about paying a transaction fee or bear other service fees. WePay and Dwolla are among the best online payment networks.
#5: Web Conferencing
Every business has remote clients and employees. Travel expense can take a significant portion of your money. Web conferencing tools have eliminated the need to fly a number of miles to meet your client.
These real-time tools that you organize meetings, training sessions and even arrange sales presentations. It’s not just limited to basic audio and video calls. You can even get remote access to someone’s computer regardless of their location. TurboMeeting, TeamViewer, Skype, etc. are some tools that enable web conferencing.
#6: Social Media Marketing
Traditional marketing used to be highly expensive. Now, it’s the era of digital marketing. Social media platforms have made it easier to promote your business, reach out to customers, boost engagement and share content with your audience. Facebook, Instagram, Twitter, and Pinterest are the free platforms that are playing a significant role in promoting business.
#7: Employee Productivity
If your employees are not managing their time correctly, they are wasting the company’s resources and they are taking more time to perform tasks they could have finished days ago.
But as a business owner, you can save money by tracking their time in the office. Tools such as RescueTime help you limit the workplace distractions and improve employee productivity.
Just like I increased my bottom line by cutting down my Optimum service, you can increase your business’s bottom line with tools brought by technology. Plus, the return on investment brought by these tools is worth it.
HussaiN is a full-time professional blogger from India. He is passionate about content writing, Tech enthusiast & computer technologies. Apart from content writing on the internet, he likes reading various tech magazines and several other blogs on the internet.