Investing in technology to survive the recession

As the credit crunch continues to unfold, many businesses retreat into ‘saving mode’, trying to reduce costs as much as possible. But many who have been through previous recessions will know that investing now in tools that can make substantial bottom line savings and make them more profitable, is sound business practice.

Rather than getting caught up in the doom and gloom it’s more proactive for businesses to see investment in the latest products as an opportunity rather than a cost, and allow the technology to be viewed as a tool to ensure your business remains healthy.

Sage is the market leader when it comes to creating business software solutions and one of the most vital systems we find to help improve business sustainability is an integrated accounts system. Having an online accounts system tailored to your business’ needs can help you to manage your staff, your customers and your finances more efficiently every day.

Having helped hundreds of businesses find the right solution for them I always make the following recommendations:

  • Look for a system that enables you to have easy access to the information you need, in the way you want, wherever you are, whenever you want with powerful reporting tools, full excel integration, drillable management reports and mobile applications.
  • A system with easy to use credit control processes enables you to maintain a positive line of credit with your suppliers, by effectively managing your payments. It also ensures that your customers pay you on time with comprehensive debt chasing features.
  • You should aim to streamline your processes and reduce duplication with order processing.
  • An integrated system will allow you to organise your information by using diary, communications and document management memo tabs.

Investing in a simple technical solution can assist in streamlining your business and ultimately help you survive a difficult financial period by offering business continuity in a secure and reliable system.

Author: Claire Richardson, Tait Walker (Sage Platinum Partner 2012)

 

Comments

  1. Thanks for the great feedback! We’ll be updating every week so let us know if any other articles catch your eye!

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