5 Effortless Money Saving Tips for your Business

Tag: Cloud computing

5 Effortless Money Saving Tips for your Business

5 Effortless Money Saving Tips for your Business

A successful business is not just about generating higher revenue but also about cutting down on expenditure without compromising the operational efficiency. Hiring cheap labor, avoiding technology solutions, and trimming down marketing budget do not qualify as smart decisions. You will witness a decline in the growth rate if you follow these.

Instead, you should adopt innovative and easy ways to save money in your business. Here we elaborate on these ways that will assist you in generating more profit without decreasing the quality of your product or services.

Watch & Analyze your Expenses

The most basic, simple yet crucial step to save money is watching and analyzing your expenses. The financial statement gives you a complete overview of each and every expense. If the expense is not necessary, you can simply avoid it or replace it with an affordable version. This is not applicable to just tangible holdings but intangible ones as well. For example, time is also a resource. When you are wasting it on an unproductive task, it is an unwanted expense. Therefore, you should manage it judiciously to attain maximum value out of it.

There are various tools and apps that let you record and analyze expenses, generate in-depth reports, and recommend feasible ways to cut down on unnecessary expenditure.

Ditch Paper and Adopt Digitization

Use of pen and paper is unavoidable. You cannot completely eliminate the need but you can minimize it by adopting digital means. Instead of relying on paperwork for maintaining records, printing receipts and documents, preparing reports, etc, simply digitize the tasks associated with paperwork. For this purpose, you can invest in an Enterprise Resource Planning (ERP) system or project management software.

In addition to saving stationery expenditure, you will save money by not buying associated equipment like printers, fax machines, cartridges, etc.

Invest in a Secure Payment Gateway

Financial frauds have been the most dreaded way of incurring unwanted expenditure. If you want to prevent any monetary losses, you should invest in a secure payment processor that complies with the latest security standards. Some of the latest compliances and security protocols comprise AES 256-bit encryption, Two-Factor Authentication (2FA), and so on.

Moreover, opt for a payment solutions company that abides by the PCI DSS compliances, government rules and regulations, and other legal guidelines. While investing in a payment gateway, check out the subscription costs and associated costs to avoid hefty transactional charges.

 Adopt Cloud Computing & SaaS

Setting up your own IT infrastructure and deploying a team of IT experts can be an expensive affair. But when you have the provision of cloud computing, you don’t need to invest in physical infrastructure. Simply avail cloud computing services to store your data and operate seamlessly without any obstructions. Cloud computing ensures secure operations, ease of scalability, and affordable solutions.

Software-as-a-Service (SaaS) is a cloud-based subscription mechanism that allows you to invest in tools, applications, and software to manage business operations. You can avail a customized package based on your requirements, thereby avoiding any extra expenditure.

Outsourcing & Work from Home

Due to globalization, technological advancement, and access to high-speed internet, the world has become a small place. Now instead of setting up an in-house business operation, you can outsource to service providers who provide expert services at reasonable costs. And if outsourcing is not on your cards, you can allow employees to work from home. This saves your money that would otherwise be spent on setting up the infrastructure for the employees.

You can also consider opting for a co-working space. Purchasing property, customizing it, and maintaining it can be a costly affair. A co-working space saves you from all these hassles.


There are numerous other ways to save money in your business. But these are some of the most effective and easy-to-implement ways to cut down capital and operational costs. Adopt these before it’s too late to streamline business operations according to these changes.

A Guide On How You Can Bring Automation To Your Online Business Part III

A Guide On How You Can Bring Automation To Your Online Business Part IIIImage credit: MaxPixel

Make the most of the latest and greatest in tech and save valuable business resources. From financials to marketing, all elements of your business can be streamlined and speeded up. 

In our last post in our automation series, learn more about time-saving tech.

Time-saving tech

Running a website and busy inbox can take its toll, so save time with the help of technology.

  1. Cloud computing is a massive leap forward when it comes to managing content and files. Don’t risk losing valuable data because of a messy folder structure; automate file management and version control with a cloud-based system. This is feasible for even the smallest startup, whereas larger firms have the option to upgrade to more bespoke enterprise cloud computing solutions.
  2. Automated backups of your website database and file and database cleanups aren’t difficult to implement. Use smart tools and plugins to help cut down on admin time when it comes to website management.
  3. Email filtering and auto-responders are more sophisticated than ever thanks to AI technology. You can create email ‘recipes’ and funnels that massively cut down on time spent filtering inboxes and dealing with inbound requests. You may even want to invest in helpdesk software to scale your operations.
  4. Inventory and supplier automation often have significant cost-saving and profitability benefits. Models like Amazon FBA and dropshipping aren’t for everyone, but they can help massively decrease your overheads as an e-commerce brand. Even if you got it alone, it’s recommended that you select an online store builder that works with other tools and services. For example, building a store through Shopify means having instant access in-built refunds and returns, whereas store owners on Drupal would have to separately code a lot of features — including basics like social sharing and blogging. Think about how the technology you choose helps — or limits — your choices.

Whether it’s customers, suppliers, or virtual assistants, it’s important that automation is an end-goal all departments share.  Automation should never be a dirty word in your business. As an online entrepreneur, you are in the perfect position to explore automation across your business — from marketing to finances.

About the author

Victoria Greene is a branding consultant and freelance writer. Big fan of automation when it comes to content marketing. Helping ecommerce brands and startups scale faster and better.