In the past, digitising a business was an expensive and time-consuming process. Today it’s not only easier, it’s practically mandatory if you want to see your business achieve success. Technology can streamline working processes, boost employee morale and improve user experience. The amount of digital infrastructure available nowadays means that digitisation is accessible to businesses of all sizes. Those who don’t go digital are likely to get left in the dust. In short, it’s a must. Here’s why you need to digitise your business ASAP.  

1. Save Money

Digitising your small business can see a significant fall in operational costs. Firstly, digitising your business will allow you to go paperless. This will save you money in stationary and printing costs, and time that would otherwise be wasted typing up notes. 

On top of this, research by Telzio found that using Voice over Internet Protocol (VoIP) instead of traditional phone lines for communication saves businesses between 30-50% in telecoms expenses. Better still, the up front installation cost of these systems are low because VoIP systems require very little extra hardware. 

Going digital also saves businesses money by giving staff the opportunity to work from home. Fewer staff in the office each day means reduced power usage. It might even allow you to relocate to a smaller and more affordable premises. Furthermore, remote working can have a positive impact on productivity. A study by Airtasker found that remote employees put in an extra 1.4 days of work per month on average. This adds up to over three weeks per year. 

2. Increase Agility 

The coronavirus pandemic proved that the world can change dramatically from one day to the next. The businesses that survive such changes are the agile ones who are able to quickly adapt to change and respond to shifting customer demands. Digitising your small business will significantly increase your organisational agility and set you in good stead for survival, even when hard times hit. 

Digital infrastructure allows you to make swift alterations to your products and processes. You can upgrade or change software in the blink of an eye and pivot to keep up with market changes. The ability to work remotely also allows your team to continue working and collaborating effectively as circumstances change.

3. Boost Motivation and Morale 

In addition to boosting employee performance, a study by CNBC showed that flexible working has a positive impact on morale. 60% of full-time employees working remotely said that they were satisfied with their job, compared to 54% of employees who worked in an office. However, it’s worth noting that it’s essential to maintain clear communication when managing a remote team. 

Digitising your small business also creates the opportunity to gamify team productivity. Technology allows you to collect data on employee performance and then create competitions and leaderboards to motivate staff to work harder and go the extra mile. 

4. Improve Efficiency 

Digitising your small business will allow you to operate far more efficiently than ever before. Project management software permits close collaboration and allows employees to work together without having to waste time sending email updates back and forth. Cloud based productivity suites such as Office 365 also streamline processes and permit seamless collaboration. 

Furthermore, many small businesses can harness the power of automation to increase productivity. For example, customer support chatbots are an extremely cost-effective solution. Similarly, you can save a huge amount of time and stress by automating functions such as payroll, invoicing and bookkeeping calculations. 

Now is the Time to Digitise your Business 

The sooner you digitise your small business, the sooner you will begin to reap the rewards. Digitising your small business allows you to cut costs whilst improving efficiency and employee morale. Perhaps most importantly, however, digitisation allows your organisation to remain agile and keep up with the ongoing market shifts in our ever-changing world. It’s impossible to know exactly what lays ahead but digital businesses are best-equipped to face any challenges that arise. 

If you would like help identifying ways to digitise your business, please contact Paul at Enrich Accounting here, on 07403 407455 or at paul@enrichaccounting.co.uk