Two Ways Technology Can Help Your Business Grow

It is no secret that technological advances in the last two decades have been a catalyst for much of the growth we’ve seen in the last two decades. That’s why it is no secret that technology can help your business grow, and every business manager knows this to a large extent. The problem, however, is the fact that most businessmen don’t act on this knowledge. Half of the new businesses that started in this very decade made relatively little use of key technological innovations. This article will help you take a step back and really see all the macro benefits you can glean from truly adopting key innovations cutting through the buzzwords and impractical advice.

Buying Hardware? Why not Try Leasing It?

Economics of scale refers to how much things become cheaper when you increase their scales. So, for example, getting a small server cluster going will be prohibitively more expensive than getting the same amount of storage and CPU power in a much larger cluster of servers. Things getting much cheaper at larger scales is one of the reasons why most economists and political scientists predicted that in some far-flung future, a few large companies will dominate most companies. Things have been shifting thanks to technologies, however, especially for electronic equipment.

Thanks to the cloud and much faster internet connections, it is extremely easy, nowadays, to lease storage, computation power, etc. at really cheap prices. You don’t need to invest tens of thousands of dollars in servers just to have complete control over your own server, you can do so much easier and much cheaper nowadays through the cloud for just a hundred bucks a month. This new model is beneficial for all parties involved and much more efficient:

• You can respond much quicker to changing market demands: imagine, if twenty years ago, due to a mention in a prominent newspaper or a local TV program, your business’s website received a ton of requests and demands – what could you do? Nothing, you’d have to just sit there and watch as your website couldn’t load and serve your clients. After a few days, you could manage to purchase more hardware and bolster your server’s power, but by then, it would be too late and the interest might completely have died down. With leased hardware, however, you can respond right away – in a service like AWS, you can add extra storage or CPU cores to your server in a matter of minutes. You’ll never need to worry about your company not being scalable. At the same time, if your company doesn’t get a lot of customers during a certain season every year, you can reduce the costs by leasing less hardware during that period.
• Resources are dynamically allocated and shared between hundreds of thousands of businesses: due to the massive scale of servers deployed and the number of businesses using the service, the provider will be able to dynamically allocate the resources between the different businesses on the fly. So, when your business isn’t using the full CPU power it is allocated, other businesses will be able to make use of that CPU power – in the end, this means a lot of businesses can function at full speed with a lot fewer resources and hardware. This doesn’t only make the service cheaper but it also contributes to making your business less resource-intensive and environmentally friendly.

Bookkeeping has Never Been Easier

Very few people know this, but the invention and development of double-entry bookkeeping in the 13th century in Italy was one of the primary reasons that lead to the renaissance and propelled Italy’s economy to the top of the world. How businesses keep and review data and records is of paramount importance. Good data management will allow you to have an accurate picture of your business, how it is doing over time, its weaknesses and strengths, and much much more. If you want to run a successful business, you must gather and analyze a ton of data both from your employees and from your clients. Multiple technologies from really complicated data entry programs to really complicated data analysis and machine learning programs have made it easier than ever to record and analyze your company’s data. Even if you have a really niche business catering to very specific demographics, you can employ professional development agencies like CSHARK to develop bespoke solutions to you.  If you want a scientific and realistic approach to growth, you should definitely look into this.