How investing in IT helps businesses save money and improve profitability

How investing in IT helps businesses save money and improve profitability

Some businesses delay or forego IT purchases, thinking that these are unnecessary expenses. What they fail to realize is that buying the right technologies can actually be a wise investment.

In this blog post, we'll discuss 10 ways investing in business IT can help your company save money and become more profitable.

1. Eliminate paper-related costs

Leveraging a cloud storage service can help your business transition to a paperless office. This transition means you won't have to purchase printers, shelves, and supplies like ink and paper. You can also save on physical space for storing paper records.

2. Minimize IT infrastructure-related costs

Your company can enjoy cost savings by switching from an in-house server to a cloud server. Doing so eliminates the need for expensive hardware, such as servers and disk storage, as well as the associated manpower and maintenance costs. Getting rid of an in-house server setup also frees up physical space.

Read also: 5 Reasons more businesses are adopting cloud servers over in-house servers

3. Reduce energy costs

Investing in ENERGY STAR-certified equipment can greatly reduce your electricity bill since these machines are energy-efficient. As an added benefit, using such equipment is also better for the environment.

4. Cut down on labor costs

There are plenty of IT solutions that let you automate processes that would normally take longer to do when done manually, such as computing for payroll, billing suppliers, and generating sales reports. Investing in automation tools lets you reduce the manpower required to do those tasks and your existing staff can focus on higher-value tasks.

5. Reduce communication expenses

There are significant cost savings that come with utilizing a Voice over Internet Protocol (VoIP) solution instead of a traditional phone line. With the latter, making calls to other states and countries can be very expensive. But since VoIP systems use the internet for calls, you can make long-distance calls for free or a fraction of the cost.

Download our FREE ebook: 21 VoIP Frequently Asked Questions

6. Improve communication and collaboration

Having a reliable communication and collaboration system in place will help your team stay connected with each other and other stakeholders, no matter where they are. This can save your business money by eliminating the need for costly trips to meet with partners and clients, as well as reducing the time spent on resolving issues.

7. Boost productivity

Using the right software and tools, employees can work more efficiently and get tasks done faster. For example, since enterprise resource planning (ERP) software centralizes data collection, managers can quickly generate reports on information generated by multiple departments and have a more comprehensive view of organizational performance.

Increased productivity ultimately leads to increased profits for your business.

8. Support remote work arrangements

When you invest in mobile devices and cloud services, your employees can work from home or any remote location. Allowing employees to work remotely can help cut down office space rental fees and related costs, such as office maintenance and utility expenses.

9. Improve customer service

Investing in the right IT technologies can also improve customer service. By utilizing customer relationship management (CRM) software, you can keep track of customer interactions more efficiently and provide personalized experiences for customers.

You can also leverage VoIP features like call routing, auto-attendant, and voicemail that you don't get with traditional phone lines. These features help ensure that no call goes unanswered.

Using CRM and VoIP ultimately leads to better customer satisfaction and increased profits.

10. Bolster cybersecurity

To survive in today's business landscape, your company must implement effective IT security measures, such as firewalls, anti-malware software, and encryption, to protect against cyberattacks and other cyberthreats.

Otherwise, cyberthreats may disrupt or even completely halt your operations, which can have a negative impact across the board, from employee productivity to sales to customer satisfaction. If you suffer a data breach, you may also be subject to hefty penalties and litigation expenses.

The IT experts of Fidelis can guide you in leveraging technology to cut down business costs and improve profitability. Get in touch with us today.

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