by Lina Martinez
Every company wants to save money. We’ve all seen the business owner that refuses to spend or buys the cheapest products and solutions on the market. Typically, they end up spending far more in the long run due to increased operational costs or decreased efficiency. In some cases, dealing with the issues of under investment can take away from time that owner needs to invest in business management.
Fortunately, most business owners know that spending a little money can produce savings in the long run. Savings are typically produced in the form of increased efficiency and smoother management of the business. Others are a simple product purchase that offers operational savings over the product it has replaced.
By showing several good examples of business spending for strong return, it is hoped your business will look for similar investments that will save time and money.
Energy Efficiency Upgrades Everyone Should Do
Energy efficiency can produce some of the best ROI of any investment you make. This is a category that applies not just to your business, but also your home. Swapping out for new technology will immediately lower your energy bill. Better yet, most regional and national governments offer fabulous incentives to upgrade.
Swapping out old, inefficient lights for new LED lights can make a massive impact in reducing the amount of energy usage. Awareness has also grown around the benefits of solar energy and the ability to zero out your power bill for decades to come.
Another solar tech that is still a bit under the radar, is solar thermal (or hydronic solar) to heat your water as opposed to a hot water heater. The sun heats a collector which transfers the heat to your water. Such a system can also heat pipes that radiate heat through the house or office. It is all controlled with a hydronic ahu (air handling unit). For the price, it is one of the best energy efficiency upgrades you can make.
Get Efficient with Custom Software
Your business probably manages any combination of employees, sales, production, delivery and accounting. It’s challenging to keep it all together and running smoothly. As an owner, you must be a business generalist that integrates all functions for a profitable outcome.
It also happens that you most likely operate your business in a way that is specific to you. While basic software solutions do exist for basic functions, complexity demands something tailored to your specific business needs. IT is complex and not the business your business is in. Companies like, https://www.zycomtec.com/project-services/, have created the category Anything as a Service (XaaS) to create software and tailor it to the specific IT needs of their client.
Properly developed software and an IT plan do have a cost but provide significant savings in improved efficiency and analytics. Properly done, your business will see increased workforce productivity, understand who your customers are, efficiently manage projects and have a safe network infrastructure. This is truly something that deserves an investment.
Track Your Fleet
If your company utilizes any type of a fleet for service or product delivery, a good spend is to utilize telematics. The term telematics is the combination of telecommunications and informatics. Essentially, it is centralized tracking and management of your fleet through wireless networks and GPS to see where vehicles are, track vehicle health and minimize fuel usage.
Companies like, Mobilizz Inc. els solutions, can provide solutions for fleets of several vehicles or hundreds. Few things are more inefficient than an employee taking a 3-hour lunch in the company vehicle or a vehicle that ends up needing expensive and time-wasting repairs. Being able to monitor information in real time, can end headaches such as these.
Spending on solutions like these is a must. The benefits are realized as soon as the product or service is deployed. Efficiency and cost savings start immediately, and your company will benefit from savings or increased revenue for years to come.
So, get out there and spend a little. Solutions like these will only benefit you.
