Every small-business owner understands the conflict of wanting to save money without sacrificing the quality of their company. It seems like with every cost-saving solution there is a drawback that will negatively affect customer experience or employee benefits. Most budgeting tips are geared toward start-ups that are struggling to ramp up sales, but even well-established small businesses can experience the stress of working within a budget. Especially during times of growth, business owners need to allocate funds for improving infrastructure to keep up with demand without forfeiting standards. With this in mind, we have provided four modern ways for small businesses to save big – and they're easier than you think.
1. Go Paperless
Going green has been the trend for the past decade, and going paperless is one of the best ways to start. Even if computers are commonplace in your business, paper could still be holding you back. Evaluate some of your business practices. Are you sending out mail that could be transferred to email? Are you printing out documents that could be shared online? Even something as small as cleaning up your direct mailing list can save your business paper and money. Storing files securely online can keep you organized and helps avoid missing paperwork, as well as give you the ability to search for and pull up what you need quickly.
The effort to go paperless can be simplified by moving applicable businesses operations online and giving employees the opportunity to access information electronically.
2. Streamline Internal Processes
Many small businesses are under the impression that they cannot compete with Fortune 500 companies that use complex and expensive software systems to manage their operations. One area for every small business to consider improving is payroll. Maintaining payroll internally not only takes a lot of time, but also uses up precious resources. Exectras offers an easy 3-step process specifically for small businesses to set up payroll with expert guidance and support along the way. This 100% online portal makes payroll easy while minimizing errors and providing tax services. With the time saved by passing these processes to a third-party you can devote more energy to customer facing initiatives.
Having a designated HR department is something that large corporations benefit from but small businesses may feel is unrealistic for themselves. Today, it is possible for small-business owners to partner with a comprehensive HR solution at a discounted price through our membership. This program can assist with risk management compliance, infrastructure development and growth. These logistics are constantly on the mind of a small-business owner, but by outsourcing them to our partner Oasis, you can focus on your core business while being assured they are being handled by experts.
3. Don't Pay Processor Fees
Every business relies on payments from their customers to succeed, but in what is becoming a cashless society, the processing fees on electronic payments can quickly eat into your income. What may seem like an inevitable fee that comes with conducting business can actually be avoided with an Exectras membership. Our company provides merchant processing at true interchange cost and banks fees. By leveraging our network of 800,000 businesses, we can provide Exectras members with the best services, programs and pricing structure available. Just by using Merchant Services alone, our average member saves $430 per month – and so can you!
4. Improve Productivity
Though it is easy to get stuck doing things the way they have always been done, this mindset can be detrimental to your business's productivity. Improving productivity does not always mean putting in more money to turn a bigger profit – there are many ways to be constructive while saving money. In an interview with former P&G executive Scott Mautz, WBUR found that employee productivity can increase as much as 50% when given the option to work from home. This is not exclusive to large corporations, small businesses can also give their employees the option to work from home one day a week if the nature of their work allows it.
Here at Exectras we are committed to helping your business succeed while never sacrificing employee benefits. We understand that the biggest way for a small-business owner to save money is to have more time to dedicate to the core of their business. Going paperless and improving productivity are made easier with our online programs accessible through our one of a kind membership program. To see how a membership with Exectras can benefit every aspect of your business, contact us to set up a consultation today.