Technology to supercharge your business

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In a hypercompetitive market, you need every advantage you can get in order to stay ahead of the competition. One of the best ways to achieve this is by investing in the right technologies at the right time. Whether it’s a remote tool for the new hybrid workplace or accounting software to support better decision making, here’s what you should be embracing in your business. 

Onboard new employees remotely

If there’s one silver lining to the pandemic, it’s that more organisations have realised they don’t need to keep staff on-site to maintain productivity and collaboration. On the contrary, research shows that people who work remotely or in a hybrid environment are producing even better results than before COVID-19 drove everyone to work from home.

While that’s good news for staff, it means businesses need to adapt to the ‘new work norm’. Thankfully, technologies like video conferencing software and remote-onboarding platforms are helping to ease the transition.

Improve your cybersecurity

Did you know that nearly two in three businesses think they won’t ever be targeted by a cyberattack? But the truth is that cybercrime rose by 600% during the pandemic. So it’s no longer a matter of if but when you will have to thwart a malicious attack.

That means every business – no matter the industry – should be investing in robust cybersecurity software and training staff about how to spot phishing and ransomware scams. The alternative means not just reputational and financial damage, but loss of customers over the long term.

Build your brand on social media

If you haven’t already embraced the social media revolution, you may be missing out on lucrative opportunities with new audiences. While you will need to tend to your social channels like a garden, the payoff can be even greater than traditional advertising.

90% of people buy from brands they follow on social media. And with more than 20 million social media users in Australia alone, that’s a market with incredible potential to make profits.

Improve the accuracy of your financial records 

Technology is also helping businesses to keep accurate financial records with greater efficiency. Software like Xero and QuickBooks have set a new baseline standard for bookkeeping, providing  owners and non-financial managers with detailed financial reports more transparently, and more often than ever. 

“What I love about technology in the bookkeeping space, is that it allows for an array of business metrics to sit behind the traditional financial statement,” says Sarah Cook, Managing Director at Elev8 Business Services. “This gives our clients a quick summary of key measures that empower better and faster decision making.” 

Looking to strengthen your business model by adopting powerful new technologies? Contact Elev8 Business Services or call 1300 588 527 to start by supercharging your financial records.