Technologies that Can Help Small Businesses Cut Costs
By Antoine Chaya
Antoine Chaya is a Californiabased business executive who serves as the senior director of strategic accounts for the Oracle Corporation. Prior to assuming his role with the Oracle Corporation, Antoine Chaya earned his Ph.D. from the Georgia Institute of Technology, during which time he coauthored a paper on the relationship between investments in information technology and costeffective organizational performance. In the digital age, businesses have no shortage of available technologies designed to make their businesses run more effectively. Though smaller businesses may struggle with the initial costs of investments in these technologies, there are many valuable tech tools that ultimately pay for themselves by cutting costs for businesses in other areas. For example, small businesses that want to save money and improve organizational efficiency can consider investing in voice over internet protocol (VoIP) services. VoIP services allow businesses to make calls, send data, and use video services through secure connections, potentially reducing the amount of travel necessary through actions like video and web conferencing. Additionally, this technology helps business save on hefty monthly phone bills caused by long distance calls and basic phone charges. Platforms that allow companies to use paperless practices also
can help small businesses cut costs. Electronic invoicing, mobile payment systems, and esignature services can help businesses reduce reliance on paper, diminishing the need to purchase paper and its affiliated products in regular, high volumes.