Opportunities for small Business to reduce costs

Small Businesses are hard presses for keeping their operational costs in check so as to keep their profit margins intact, despite facing stiff competition in the market. The answer lies in using the latest low cost technologies in an innovative and most productive way.

Using cloud Hosting Services: Small business can drastically reduce the cost of running various crucial applications such as Bookkeeping software, CRM application and Tax applications by adopting cloud hosting services. Application can be hosted on Third party ASP thereby eliminating the need for comprehensive IT infrastructure needed locally to run these applications. Besides reducing the IT support costs application Hosting also allow you to access the applications from anyplace anywhere. And thus providing the much needed flexibility to run your business.

Customer retention: A host of CRM application is existing in the market which helps small business to manage and engage their customer in more effective way so that to increase the customer satisfaction levels and hence retention. Customer and contact management software also help the business in better interdepartmental collaboration in understanding customer preferences, understanding the markets and strategic analysis of the business opportunities. Further, CRM software Such as ACT! By Sage can be hosted to provide the marketing, sales and management group to have on the fly access to the application.

Save on you communication Bills: Small Business can further save costs if they go for VOIP or hosted PBX services. The VOIP services costs very little as compared to traditional Landline phones.

Cut down Online advertisement Costs: Business can save lot of money on online advertisements, if they spend wisely on building their brand through social networking and social media presence. Social media is many times more effective than other forms of Online and direct Advertisements and through effective community engagements, the market for small business grown not only geographically but also adds new channels of opportunities.