Although there are a number of investments that serve as start-up costs for a new business, the anticipation is that this financial basis, hard work, and wise choices will lead to increased prosperity and growth that can return the investment exponentially. Most owners are also aware of the fact that this return on the investment may not be immediate, and that patience as well as continued good business decisions will lead to abundance.
However, even as companies have become established and are working toward even greater growth, the focus can still be on a bottom-line of profits as fiscal returns. Some companies can run into challenges when they see reports on expansion and profits that are coming in, but are not seeing greater financial benefit within the company.
One of the most overlooked areas for company returns is in generating greater savings through operational changes. While this can provide a good answer for keeping the budget balanced, it can also lead to better practices in terms of:
- Use of resources
- Lost time and money
- Efficient use of time and funds
- Increased productivity
- Reduced down time
The Need and Burden of Equipment
While much office equipment may be purchased to meet an operational need within the parameters of the budget, these expenses can get out of hand when less effective technological choices are made. Many businesses go into such a large purchase and only consider the initial cost, while maintenance fees can turn into prohibitive issues over time.
Copiers and printers are some of the pieces that can tend to cost more than their worth if they do not adapt to changes in business practices and if operation cannot be freely maintained. Some of the leading places where these costs add up include:
• Ink and paper – misprints, duplicates, and copies with errors can all contribute to waste, which also contributes to lost money.
• Employee mistakes – wasted materials can also be a result of consistent human practices, and lack of accountability can cause this to escalate.
• Power consumption – even in sleep mode, some copiers and printers can still be a large draw on electricity, and this can also impact profits.
• Repair and system issue – lack of necessary supplies or equipment failure can also contribute to losses. This can be from lost work time while waiting for replenishment and repairs, but can also include the cost of service calls.
• Too much equipment for the same job – many offices can have inefficient practices for technology, which can include added steps, work, and resources that go into any single project.
While it is important to stay aware of these points where funding and productivity may become lost it is also a wise choice for businesses to consider solutions that will lower these costs. Many business printers and copiers not only have multifunction abilities, but also have added innovations that allow for office integration and management through better networking.
To this end, saving money in business can come down to simply upgrading the copier and printer. This can include considering models that have:
- Lowered supply costs for long-term use
- Multiple capacities for printing, scanning, copying, and fax forwarding
- Access logs to monitor employee activity
- Remote access for printing and editing documents
- Private terminal access to print documents and for copy and print functions
This can not only address the issue of wasted resources and money, but can also account for time that is spent away from productivity.
Voice and Data
Business phone technologies have also evolved with better functionality of electronics and the use of voice over internet protocols (VoIP) communications gives another way for businesses to save in operational costs. For many companies, VoIP can be preferable not only for cost and consolidation, but also for expanded features that are offered with the services.
Since corporations already utilize high speed internet for other business practices, the use of VoIP for communications can significantly cut on the expense of business landlines. Further, internet based calls can also be run through a number of devices, including “landlinesâ€, synced mobile devices including phones and tablets, and even computer terminals and voice to email messages. This also cuts down on service requirements since many VoIP issues can be handled remotely by a tech.
The flexibility in calls between devices also gives the business the chance to expand as needed for growth, without an excessive secondary investment. Internet calls not only do away with a traditional phone bill, but also provide same cost for long distance and local calling, which can save money as well. Wired and wireless configurations with VoIP also means that information and functionality becomes integrated through the extent of the network, so that lost calls or downtime is less likely.
Specialty business features for VoIP are often bundled so that companies can receive low rates on features they need such as caller ID and call forwarding, but can also make use of conference call features, fax re-routing, and other services that may be required at a later time. Upgrades to VoIP systems can also generally be done remotely, which also reduces the cost of services and more equipment that may be required for expansion.
These types of secure protocols are also used in data storage and consolidation, with a similar benefit. Cloud storage, consolidation of servers, and IT services that can accommodate in person or at a distance can allow for data solutions which can make a further positive impact on the budget. Many networked business copiers also provide programming means by which data and voice solutions can also be combined with this basic office need. As a result, companies are learning that wise investments in better technology can lead to greater profit margin through both direct and indirect means. This includes reducing the waste of resources, regardless if these are power, tangible good, or time, so that wise equipment choices also become wise business growth choices.