Thursday, January 19, 2017

Using Technology to Fulfill Your Business's 2017 Financial Resolutions

technology in finance
Are you a business owner? Do you want to see nothing more than your business being the best it can possibly be, making you a healthy profit as it does so?

If so, your financial resolutions for 2017 were probably all made with one goal: maximising your business’s financial potential. To do so, whether you like it or not, the only way in which do that in the modern world of today is to embrace the ever-changing technological advances that we as humans make. Here are five services that you should be using.

Merchant Services

A type of bank account that allows businesses to accept payments in multiple ways (typically debit or credit cards). With the pace of change in the UK payment market, for example, showing that over the past five years the debit card has proved itself as not only being the generally preferred method of payment in regards to frequency, but also the one that holds the most value in terms of total amount, it is paramount that if you haven’t done already, you utilise such a service. Not only will it save you from making those dreaded trips to the bank for bags of change, but it may save and even bring you custom. For example, a prospective customer may automatically think that you have technology driven payment facilities, such as a card reader, and subsequently not think to bring any notes or spare shrapnel with them. If they were to do so and then turn up at your till to find that they in fact couldn’t pay for their chosen products in one foul swoop of their debit card they may become annoyed, leave and never return to your business: losing you both a potential customer in the future and also their custom now.

Virtual Phone Systems

A service that can ensure coherent communication amongst your employees, without the phone bill. Sounds good, doesn’t it? A virtual phone system is an affordable alternative to the use of company phones between employees when they need to get in contact with one another in regards to their work. They use the latest technologies to provide businesses with the most flexible communication services know to, well, businesses.

Mobile Commerce

Shopping from smartphones and tablets, otherwise known as mobile commerce, will hit $114 billion in 2017. And not only are people using their phones to shop, they are using them to search for prospective things to shop for. This means your business’s website must be responsive to mobile devices, simply meaning they must work clearly and coherently when accessed on them. A prospective customers will become inpatient on a site that they can’t see, which will mean they will leave and possibly never return; thus meaning you’ve not only lost current custom, but also future custom.

So, there you have it. But don't limit yourself to just using these three services: there’s a whole host out there just waiting to be able to make you that profit in 2017 that at the moment you’re dreaming of!

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