Top 5 ways technology can reduce business expenses

How technology is changing the way you can manage your business expenses

Technology has changed the way we live our lives over the past 20 years, especially when it comes to the world of work. The digital era has opened up amazing new opportunities for businesses to find more efficient and effective ways of working.

Webexpenses has shown just how effective this can be, helping hundreds of organizations save valuable time and money with our cloud-based solution. But there are many other ways technology can be used to help cut costs and improve efficiency.

Here’s a guide of the top five ways to benefit from the latest tech for business:

5. Open-Source Software

Many organizations find themselves having to pay out significant amounts of money to purchase licensed software for small tasks such as word processing, data management, and image editing. But for every licensed product, you will also be able to find a range of open-source alternatives. This is software that is usually developed as a collaborative effort and made freely available. Programs such as OpenOffice and GIMP are now commonly used by businesses with a thriving community to support them.

4. Virtual Assistants

Many organizations are now using virtual assistants to carry out the day to day tasks which can be carried out remotely. The improvement in Internet connection speeds and freely available services such as Skype means it’s now just as convenient for a freelance virtual assistant to carry out the work as a person at a PC in an adjoining room.

3. Bring Your Own Device

As more and more of us now own a laptop or tablet computer, there’s an increasing move for organizations to allow their employees to use their own devices at work. This allows them to work on a system they’re comfortable with whilst also enabling the company to reduce hardware costs.

2. Online Training

Paying for employees to attend training courses can prove expensive, especially when travel and accommodation are added to the cost of the course itself. It’s the reason that online training is becoming the preferred option for many organizations. The courses can provide comprehensive training and interactive tests at the fraction of the costs of a traditional course.

1. Cloud-Based Solutions

Webexpenses is just one example of how cloud computing is helping save businesses time and money. The web-based solution allows IT costs to be reduced with no need to maintain and update a multitude of separate software installations. Free services, such as Google Docs, allow organizations to use the power of the cloud to create, store and share collaborative work.

Ensure effective expense management

Utilizing these five methods will ensure business expenses are handled properly, efficiently, and effectively. Learn more about automated expenses here.