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5 Technological Investments for Small Businesses that Pay for Themselves

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If you run a small business, you can save time and money by investing in digital technologies designed to help you work faster and smarter. From bookkeeping to cybersecurity, many tools are at your disposal. And here are the five you definitely need to use to grow your business, courtesy of
Coda
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.
​Accounting Software
If you’re a contractor or craftsman, invest in accounting software that lets you create estimates and deliver bids quicker by allowing you to enter all pertinent information into one online tool. Calculate parts and labor costs on the spot as you’re
giving an estimate to a client
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, then send a quote without having to retype any data into a different program.

Accounting software also benefits all other types of small businesses by reducing human error, cutting down on the time it takes to enter information into your systems, and helping you have a more accurate picture of where your money is coming and going. You’ll also be able to easily pull out and
compile your financial statements
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when tax season rolls around.

Online Payment Options

Offer your customers a variety of payment options to increase their satisfaction and get paid faster in the process. As more and more people make purchases online, accepting credit card payments on your website is a must. This is also true if you have a physical point-of-sale at your store or office, as very
few people still carry cash
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or a checkbook when they shop in person. If you’re a contractor and you visit clients onsite, downloading a mobile payment app will make your life a lot easier. A mobile card reader plugged into your smartphone will allow you to accept payments on the spot:
no more sending invoices
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and reminders and keeping track of due dates!
​Marketing
A good marketing plan is essential for any business. Luckily, these days, the internet makes advertising far easier. For instance, an infographic builds your brand by combining eye-catching graphics with short lists of information, and you can easily design your own infographics using free online tools, then share them via social media platforms like Instagram, Twitter, and Facebook to help spread the word and build your customer base.
You can also take your imaging to a whole new level by creating 3D graphics that capture your target audience’s attention. There’s a very short learning curve when it comes to transforming static 2D product images into compelling 3D graphics thanks to online resources. When it comes to searching for
an affordable option
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, look for software that’s versatile enough to create simple 3D models or fully conceived 3D scenes.
​Cybersecurity
Small businesses are most often targeted by computer hackers and cybercriminals, and they end up losing an enormous amount of time and money in recovery and mitigation efforts. Additionally, being the victim of cybercrime makes them lose their clients' trust, which translates into big losses in revenue.

So, as Rock and Null advises, make sure to follow these best practices to make your systems and server as
close to unhackable
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as possible: create strong passwords and update them regularly; use two-factor authentication for logins; back up all data and files so they can quickly be recovered in case of a cyberattack; always use a secure wireless connection; and create a plan of action for you and your employees to deploy as soon as you suspect malware, phishing or other fraudulent activities on your site.

Collaboration Tools
Thirdway points out that
great collaboration among employees
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and partners is essential to the success of any business. Even when you run a small company, you can benefit from online tools that streamline and optimize teamwork. Project management tools help you manage all moving parts of your projects and keep everyone in the loop regarding due dates, approaching deadlines, what tasks still need to be completed, etc.

All your team members are able to revise and update files and data in real time, and this new information becomes instantly accessible to everyone on the team without wasting time on back-and-forth emails.

Innovative solutions will lead to increased productivity and greater customer satisfaction. When looking for online tools, pick the ones that best suit your way of doing business. And make sure to check out free marketing software to help you manage your teams and work more efficiently.
Image via
Pexels
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