Technology has completely changed the face of the business world as we know it.
Today’s workplace is efficient in ways that would have been unthinkable even just a decade ago. Ease and accuracy of data tracking, increased collaboration and productivity, and reduced costs are just a few from an ever-expanding list of ways modern technological investments can benefit your business.
Below are several technologies in particular that you should invest in to maximize your business’s efficiency.
1. Point of Sale Systems
For any business with a physical store, a point of sale (or “POS”) system is the very first piece of necessary tech to invest in.
A point of sale system is the combination of physical terminal and software that handles sales transactions in a store or restaurant, and a high-quality one helps a business in many different areas. A system that can integrate with various reporting software makes generating reports a simple task, and a system with robust security can help to curtail employee theft.
Where a POS system truly shines, however, is in efficient restaurant inventory management.
In an industry where profit margins are razor thin, a well-managed inventory can be the difference between success and failure. Food is constantly being lost to improper portioning of menu items, food being spilled and spoiled, and on and on. This all can lead to an incredibly inefficient — and unprofitable — restaurant.
A point of sale system that doubles as an inventory management software will reveal to you an accurate picture of just how much inventory is being lost and how, which in turn helps you to make better decisions on things like kitchen procedures, staff management, and how your menu should be priced.
This is the kind of technological investment that can turn an inefficient restaurant around almost overnight.
2. Remote Work Technology
Not so long ago, working from home was simply not a possibility for most people. Thanks to the advent and refinement of the internet and its related tech, today it’s a reality for more than 4 million employees. As this number continues to be driven upward by forward-thinking, tech-savvy millennials, we continue to see more benefits to workplace efficiency.
While technology such as VPNs provides the obvious benefits of allowing people to work whether they’re in the office or around the world, employees working from home also boost efficiency in other ways.
Having remote employees improves productivity by removing commute times and in-office distractions, which gives employees more time to focus on productive tasks. Working from home also improves employees’ physical and mental well-being, reducing burnout and eventually employee turnover.
With fewer employees actually occupying the office, a business will save significantly less on expenditures such as office supplies and equipment, kitchen/bathroom supplies, cleaning services, electricity, and countless others.
3. Project Management Software
Everyone knows that project management software helps employees plan out projects and keep on track, but it’s actually useful for more than just that.
More often than not, a project requires several people’s effort at once. Project management software allows employees to easily collaborate on projects by sharing documents, displaying timelines, and tracking each other’s outstanding work.
Collaborators can both give status updates and easily determine the status of another employee’s work without the need to even ask.
Perhaps the biggest deciding factor in how a project plays out is its budget. The key to success in any business model is how well you can operate within budgets, and project management software helps to determine just exactly what those budgets should be, so as to plan the project accordingly.
