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Smart business owners are careful with their funds, and it’s that discerning wisdom that brings growth when other companies flounder. Technology-oriented improvements can often feel expensive, but there are some that yield benefits too good to pass up. Here are some options savvy small business owners should consider, since they are not only worthy, they can help your company outshine the competition.  

Mount a Defense

How important is data to your business? Do you record sales, track customer information, or communicate with colleagues and staff electronically? If your answer is “yes” to any piece of that question, chances are data is the backbone of your company.

Yet that crucial information might be vulnerable. Small Business Trends explains hackers frequently target small businesses because they lack the protective measures bigger companies engage. Not only are small businesses targeted, but the financial losses associated with a data breach can devastate them.

The last thing you want is for your data to be vulnerable, so consider investing in improved data security. For example, antivirus software, data encryption, and activity monitoring can make a big impact on how well-protected your crucial information is against hackers.

A firewall is another must-have, providing a barrier to effectively challenge clever criminals. Some small business owners feel moving to the cloud means they no longer need a firewall. However, even with data on the cloud, Phoenix Business Journal notes that without a firewall, your devices could still be vulnerable to hackers.

What if You’re Hacked?

Even with well-placed strategies, sometimes cyber scoundrels sneak in. If your business is hacked and you don’t have an IT department, it’s important to connect with a qualified data recovery professional as soon as possible. Firms like Secure Data Recovery are your best bet for staying afloat, so it makes sense to search out a top-notch company while you’re not under pressure, to have it on hand so you know where to turn.

Analyses for Action

How do you identify the next niche your small business will seek to fill? What methods help you forecast your budget, profits, and productivity? What realm should you expand toward to increase your customer base? You might be pleasantly surprised to learn that there are analytic tools available to small business owners that discern the answers to these questions, and more.

There is an abundance of data analyzing solutions to consider. You can use data mining to mesh interior activities with your company’s public information, which makes for better decision-making. Another suggestion is to extract actionable items from your team’s wins and losses, just through well-chosen software. Instead of staring at reports and crunching numbers, let technology handle the tedious work so you can move forward.

Time is Money

Chances are you are well aware of the truth in the old adage “time is money.” Thankfully, the age-old wisdom of those words can be fleshed out through modern technology. There are terrific time management tools available to help small business owners improve productivity. Dates, deadlines, changes, and tasking have never been easier, and there are opportunities to streamline processes like never before.

Similarly, being able to stay connected with your team members has never been easier. Rather than being strapped to the office for daily communication, tech-oriented collaboration tools allow you to make contact on the fly. Whether you need to touch base with a salesperson on the road, your top client who’s too busy for lunch meetings, or staff members working from home, it’s a chance to raise engagement to the next level, avoid cumbersome distances, and allow everyone to stay on the same page.

As a small business owner, you’re smart to watch your pennies, but sometimes spending a little can mean gaining a lot. Consider your data security, establish a resource in case you’re hacked, do some data analyses, and stay connected from anywhere and at any time. You’ll see your small business flourish, thanks to your wise investments.