Running an SME (small-to-medium sized business or enterprise) in an economy that is filled with numerous business is a challenge. Add in the fact that SMEs often are dwarfed by larger businesses that have the money and the resources to effectively shut out smaller competition, and these smaller organisations face formidable odds.
Not to make it worse, this tech-drenched society makes it difficult to connect with consumers who are bombarded with ads and are, quite frankly, distracted to the point that everything they see is similar.
For the Australian SME, running a business requires a lot of energy, focus, and vision, especially in this competitive environment. Because of this, your modern SME is faced with trying to manage a business efficiently while effectively attracting consumers.
Fortunately, the modern office space model has provided this group of businesses with resources that reduce the amount of time spent on daily tasks.
Let’s take a look at some key ways you can streamline your processes and increase the efficiency of your SME.
Traditional office leasing is increasingly becoming a relic in the commercial real estate market, which can fit out businesses more cost-effectively. In Australia alone, small businesses and start-ups are flocking to other, more inexpensive office formats, including the virtual office. The virtual office is one of the cheapest ways to lease space because it provides your business with access to meeting and conference rooms on an as-needed basis.
Visit Servcorp’s Virtual Office Australia at http://www.servcorp.com.au/en/virtual-offices/ to learn about the different amenities that go along with this plan. The virtual office virtually eliminates paying for space, office equipment, and amenities that might not be used on a monthly basis. Furthermore, the virtual office allows your business to operate from anywhere in the world, negating the need for you to run to the office every time you need something. With your office’s infrastructure being available online, you simply need a device and working internet connection.
Invest in a management system
A business management system, in essence, runs your business online. With applications that will allow you to communicate with employees, allow you to assign and submit work online, allow human resource managers to keep track of payroll, you have created an infrastructure that can streamline much of the tasks associated with running a business. Employees do not have to worry about submitting timesheets or any other information, and better yet, employees are given a place to store submitted documents.
For bookkeeping purposes, these online management systems cut down on the amount of waste your business produces. More importantly, it provides your business with a method for safe record-keeping. Finally, because you have moved your business’s infrastructure to an online format, the information can be easily accessed from any location by any employee with access to the site making your business more productive.
Invest in business applications
If your business is not quite as large to support an entire business management system, consider investing in applications that can streamline these tasks. Expensify and Evernote are two popular applications that can both help you track expenses and document your daily activities, respectively. Other apps worth investing include electronic signature and any file sharing programs that can help you exchange information quickly and get required signatures in a timely manner, respectively. Also, many business analytics apps can simplify researching and predict your business’s future success.
Investing in time-saving tools
By using technology to streamline and reduce the amount of time you spend on tasks, SMEs in Australia can focus on business. Hours at a time are wasted when businesses have to focus on tasks related to running the business (payroll, messaging, inventory, etc.) Today’s internet technologies make it possible for businesses, whether they choose to adopt a virtual office format or not, to streamline many of the tasks that encumber a company.
Get more stories like this in your inbox!
Sign up for our newsletter and receive regular updates.