Use Technology To Your Advantage
When it comes to black holes, there is an event horizon which marks a boundary over which there is no escape. The horizon of the event cannot be overridden. In business and technology, the same phenomenon is prevalent.
Whenever a new technology presents itself, it will increase in popularity, usability, and affordability up to a certain point. At that point, the technology becomes “normalized”, and may very well become negative as newer solutions become available. This is especially true when it comes to computing.
You’ve got to buy new laptops and/or servers (depending on the scope of your operations) every three to five years. Think of a five-year laptop like a car with 350,000 miles on it. It’s possible, and it does happen, but it’s the exception to the rule. Most laptops are essentially obsolete within three years, and it’s the same with servers.
Now this is different for personal computers as opposed to business one’s; there will be statistical outliers on the high and low lifespan sides. The point is, if you want to maximize technology, you’ve got to jump in quickly and use it before that event horizon is reached, and the technology is no longer good to you. The desktop computers of yesteryear would cripple operations today.
Technology To Take Advantage Of Now
Since most transactions are digital, and cash is increasingly becoming its own historical anachronism, organizations have risen which specialize in the processing of digital currencies. Especially when it comes to transactions between businesses.
Groups like Dharma Merchant Services can save you money per electronic transaction: “Dharma works closely with many B2B clients to help them get the lowest rates possible.” If you’re able to cut thirty percent from the cost of transaction processing, that could save you hundreds—or even thousands—a day.
You’ve likely had a chip installed in your debit card, and that isn’t the end of currency development in the US. Eventually it will be something different than it is now; but in the now, getting abreast of the processing industry can help you see where it’s going, so you know when you’ve reached the apex of savings.
Cloud Computing
Another way to save time and money is through online cloud-based applications that provide time tracking spreadsheets, where you can keep track of employees and their hours with the click of a mouse.
Cloud computing can also surrogate internal data networks and allow for BYOD solutions which defray expenses related to endpoints. All in all, cloud computing can save you tens of thousands annually. But edge computing networks—that is: worldwide independent networking floated from Internet of Things (IoT) devices—are on the way. Who knows where they will lead in the next decade?
Clean Energy And Closing Remarks
Finally, it’s considerable that certain sustainable energy solutions can save money, increase property value, and even provide your business tax cuts depending on the state you’re located in and the scope to which you apply the sustainable solutions. A 5.1 kWh solar energy system will raise the property value of between $10k and $20k, depending on the state.
A business that has wind, solar, and water (should a moving body of water be nearby) energy requisite to operational needs can become grid-independent, saving on utilities. Additionally this will increase the property’s value for merger or acquisition down the road, facilitate a tax break, and even lessen environmental impact; which today is good for PR.
There are exciting technological options available to businesses today that are a good distance from their cost-related event horizon. It makes sense to maximize such an opportunity while it’s available.