Running a business is often a circus. Many times, it requires several juggling acts and a dog and pony show to just get things done. This couldn’t be more true nowadays as business owners are considering how to get out from under the quarter where COVID-19 took away revenue streams and caused many businesses to temporarily close their doors. Today, we’re going to look at some ways you can stretch your capital to try and return to business-as-usual.

Difference between Cost and Value

The first thing that should be understood when looking to make your operational capital go further is the difference between the cost of something and its value to your business. Obviously, for the big purchases, you do your best to understand the potential value of the investment, otherwise you wouldn’t pull the trigger on it. Today, it’s important for businesses to look for value in every single investment they make. This means making cuts to even long-standing programs that aren’t essential to the business. 

One place that any business that relies on their information systems can always find value is in the cloud. Cloud computing is a great solution for any business that needs to expand their computing infrastructure. Purchasing cloud resources is like renting the specific tool you need at the moment you need it. Do you need remote access to your CRM? Do you need email or telephone systems? Do you need more storage? This and a lot more is available through the cloud. Let’s take a look at some specific solutions that will help you stretch your technology budget. 

Having solid communications can do a lot of good for a business. Not only does your staff need tools to push workplace initiatives ahead, they need access to powerful communications options. 

One of the most powerful tools your business can use is a VoIP solution. Voice over Internet Protocol can be one of the most useful and cost-effective tools that a business can use. By replacing your traditional phone system with a VoIP system, your business is gaining the ability to:

  1. Control costs – A hosted VoIP platform allows you to use your existing Internet connection to roll out a feature-rich telephone system for your company.
  2. Gain functionality – many VoIP providers extend services to unified communications solutions by providing video conferencing, instant messaging, integrated text messaging, and other useful products.
  3. Maximize integrations – VoIP platforms often integrate into line-of-business and management systems to create a more collaborative work environment.

To save money there are plenty of other cloud-based options available. Your business can utilize productivity software in the cloud. Useful tools like payroll software or the more comprehensive customer relationship management (CRM) can all be procured as a cloud service, giving your team anywhere, anytime access to software designed to keep your business in order and keep projects and services on budget and meeting deadlines. 

Additionally, there are many other software-as-a-service (SaaS) applications that can fill any need your business may find necessary. You can get productivity apps through one of many cloud-based productivity suites, you can get specialized apps that you couldn’t do business without through the cloud. You can even get the network security tools you need through cloud computing. 

If yours is one of the millions of small businesses looking to stretch your budget a little more to respond to a lack of demand brought on by the COVID-19 pandemic or if you just want to make your business more cost-conscious, call the IT professionals at NetMGM today at 888-748-2525 to learn how our professional consultants can help you deploy the technology your business needs for a price you can manage. 


Technology that Helps Stretch Capital

Rafiq Masri

With over 25 years of experience in Information Technology, Rafiq is one of the most accomplished, versatile and certified engineer in the field. He has spent the past 2 ½ decades administering and supporting a wide range of clients and has helped position Network Management, Inc. as a leader in the IT Managed Services space.

Rafiq has built a reputation for designing, building and supporting top notch IT infrastructures to match the business objectives and goals of his clients.

Embracing the core values of integrity, innovation, and reliability, Rafiq has a very loyal client base with some customer relationships dating back 20+ years.

Rafiq holds a bachelor’s degree in Mechanical Engineering from the University of Michigan and has completed graduate programs in Software Engineering and Business at Harvard and George Mason University. Rafiq is a former founder and CEO of Automation, Inc. in Ann Arbor, Michigan as well as a valued speaker on entrepreneurship and technology at industry events such as ExpoTech and others.