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Four ways businesses can make technology more cost efficient

Cost efficiency is important to any business and is key to ensuring your business doesn't get left behind. Newer technology allows businesses to become more efficient, flexible and ultimately profitable. In this article, we'll share some ways these newer technologies, can reduce business costs, improve efficiency and help your company stay in the black.

1. Cloud Technology

The cloud is one of the fastest-growing industries currently and moving to the cloud can save your business money whilst also bringing a range of benefits to your daily operations to boost your business.

Lower Hardware Costs
There is a reduction in hardware cost in using cloud computing, moving to the cloud reduces the need for expensive hardware as you will no longer be responsible for this as the provider takes care of that for you. Maintenance costs are also reduced as your cloud provider will also update and maintain the infrastructure as well.

Lower Energy Costs
May seem obvious but often overlooked, If your equipment is no longer running on-premises, you'll no longer be paying the energy costs associated with that equipment, A recent study by Microsoft showed businesses could save between 60 to 80% in energy costs when switching

Pay As You Go
When purchasing on-premise equipment, you had to ensure the equipment was fit for the purpose for its entire lifespan, This meant equipment was frequently over-specified and more costly than it needed to be. With cloud computing, you only buy what you need, when you need it, The flexibility of scaling up or down helps your cash flow and ensures you can plan for your business's growth.

2. Cybersecurity

Cybersecurity is becoming one of the most important factors to consider for your business today. The threat of cyber-attacks is rising and data breaches are becoming increasingly common and can be expensive to recover from. Acting proactively and ensuring you have some form of cyber protection in place before a breach or attack happens will in turn decrease the business costs associated with cyber-attacks and breaches.
User Awareness
User awareness training forms a key part of any cybersecurity defence, as the majority of networks are caused by human error, many of which could have been prevented with some basic knowledge, One of the simpliest ways you can act proactively.

Many types of technology can help protect your business from cyber-attacks, Many of which will reduce your cyber insurance premiums

3. Hosted Phone System

Hosted Phone Systems or VoIP Phones use your current computer network avoiding the infrastructure costs associated with the setup of a traditional Phone System. 

Hosted Phone System
Hosted Phone systems provide companies with a high-quality phone system with all the typical phone features without requiring investments into expensive hardware. You no longer need to purchase or lease costly hardware or wait for infrastructure to be installed. A VoIP package may include a call package (like your Mobile) which avoids spending time reviewing phone bills, Maintenance costs are also included in your monthly plan decreasing the operating costs associated with traditional phone systems.

4. Outsourcing IT Support

The top reason for outsourcing your IT is cost reduction, Instead of hiring a dedicated internal IT team on full-time salaries, you pay your external IT provider to maintain and support your systems, avoiding the hiring and training costs of an internal team
Your outsourced IT can advise on the most cost-effective systems and configure your IT architecture to better suit your needs, saving on potential upfront costs, By leveraging the purchasing power of your MSP you can reduce the cost buy new hardware

Outsourcing your IT to a Managed Service Provider could save you significant financial costs and frees up time so you can focus on your business.

If you would like to make your business more efficient, give us a call on 01444 41 66 41 to speak to a member of our fantastic team. We very much look forward to hearing from you.

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