Technology is an investment that every entrepreneur needs to make. There are different tools like Web servers, software programs, card readers and more; yet, the costs tend to be expensive. Review 5 ways that business leaders spend more money than necessary on technology.
1. Excessive Printing
According to Need Ink, roughly 85% of all American households have a printer, and one out of four are used in a home office. It’s common to overspend on printing excessive paper documents. In the past, companies used to print hundreds of catalogs or brochures, totaling tens of thousands of pages each month. Nowadays, companies are more environmentally friendly with digital catalogs and websites where customers view endless amounts of information.
In addition to an excess of printouts, there is an excessive use of printer ink. Buying ink and toner is expensive, and eliminating this task will save hundreds of dollars a year. As you make fewer printouts, also reduce the number of printers that you keep around the office.
2. Over-invest in Computers
It’s possible to buy an excess of computers for your company. Running a computer is not as expensive as running a landline phone. Some computers run all day and all night long without being turned off. Many brands are not energy efficient either, so these devices run up the energy bills.
Buy only the number of computers that you need. With every computer used, change the settings to conserve as much energy as possible. Also, get rid of equipment and machines that are not needed.
3. Website Services
Running a website is a 24/7 activity, so it’s fairly expensive; however, there are plenty of ways to save money. The most expensive mistake is to maintain an elaborately designed website with many audio and video files. These sites are usually covered in advertisements that are also expensive to maintain. For most websites, though, a classic and uncomplicated web design is enough to attract and retain clients.
4. In-House Departments
Running an in-house department, such as accounting or customer service, is more expensive than outsourcing. In addition to paying salaried employees, you have to maintain several computers and business phone systems. When you outsource the workers, worry only about the expense of paying their salaries. The Guardian reminds, “It is important, rather than quickly opting for the cheapest price, to read through their reviews and look through their portfolio carefully….Time spent assessing quality up front will ensure you’ll get the work you outsource completed on time and to a very high quality.”
5. Full Prices
Many people tend to think that technology has to be expensive. They buy full-priced products without looking for sales and discounts. It’s important to look for store savings and compare the costs of every product before the purchase.
Investing in technology is not always about spending a fortune. Today’s business owners have thousands of high-quality products and services to choose from. They have plenty of affordable options to help them avoid overspending on technology.