Technology can be viewed as both an investment and an expense for a small business, depending on how it's used and integrated into the business operations. The distinction lies in how a business perceives and manages its technology-related spending. When technology services are strategically chosen, effectively integrated to improve productivity, efficiency, innovation, and competitiveness, and have the right support in place, it's seen as an investment. However, if it's solely viewed as a cost without considering its potential long-term benefits and returns, it's seen more as an expense.
Understanding both perspectives is crucial. Smart investments in technology services can yield substantial returns in the form of enhanced capabilities, improved customer satisfaction, and competitive advantages that ultimately contribute to a small business's growth and success.
In today’s post we examine how small businesses should consider technology an investment instead of an expense.
95% of U.S. small businesses use at least one technology platform, and high-tech usage correlates with growth in sales, employment, and profits.
Investing in technology services can supply greater flexibility and ultimately contribute to the long-term success of a small business.
This investment can also help small businesses save money in several practical ways.
Here are some concrete examples that highlight how small business technology is a worthwhile and profitable investment:
Of course, investing in the right technology is useless unless the right support is in place. Here too a small business save money in practical ways.
The right technology support not only resolves immediate technical issues but also works proactively to prevent future problems. This proactive approach saves money by minimizing downtime, optimizing resources, enhancing security, and ensuring that the technology investments serve the business's long-term goals effectively.
By investing in the right technology services, small businesses can streamline operations, optimize resource use, and improve overall efficiency, leading to significant cost savings over time. By viewing technology as an investment rather than a mere expense, small businesses can strategically distribute resources to tech solutions that will yield long-term benefits and contribute to their growth.
Established in 1998, Roark Tech Services is a boutique technology services firm that provides IT solutions to select organizations.
We only offer personalized, white-glove service with a focus on quality and expertise.
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If you don’t have an IT Partner that you can trust to give you the right support and advice, we’d love to help. Contact us.