5 cost-effective strategies to grow your business

growing your business with technology

If you're a small business owner looking to grow your business, you've likely spent a lot of time contemplating the addition of some kind of automation into your operation. You may have also then held back due to concerns of cost, apprehension about return on investment, or simply a lack of confidence.

However, with the right approach, you can gain the confidence to invest in software for your business.

Here are 5 steps to help you get started:

1. Planning your 'digital ecosystem'

Crafting a digital ecosystem is pivotal for small businesses aiming to thrive in the modern market. Begin by having a conversation with your team. Identify areas where technology can improve efficiency, enhance customer interaction, or open new channels for growth. If navigating this first step seems daunting, hiring a digital strategy consultant can be a good move. 

A consultant can offer tailored advice, ensuring your technology investments align with business goals. Focus on solutions that streamline operations, enhance data management and improve staff productivity.

2. Digitise your customer connections

In the realm of customer relationship management, look for a CRM system that offers more than just contact management. Find a tool that provides insightful analytics, automated marketing capabilities, and a simple integration with your existing communication platforms. 

A system like Hubspot, which starts as a free tool, offers these features, helping you track customer interactions, sales pipelines, and marketing campaigns in real-time. This level of integration can significantly improve your customer engagement strategy, enabling personalised communications and building stronger customer relationships.

3. Cloud storage solutions

For businesses adapting to remote or hybrid work models, cloud storage isn't just about file access; it's about collaboration and security. Solutions like Google Cloud offer tools for real-time collaboration, version control, and advanced security protocols. 

This ensures your team can work efficiently from anywhere while maintaining data integrity and compliance with data protection regulations. With plans starting around £5/month, these services are both accessible and essential for keeping your business agile and data secure.

4. Simplified financial management 

If you're looking for a straightforward, mobile-friendly accounting software, Xero presents an excellent solution for growing businesses. Priced between £25-65/month, Xero gives you the tools to manage your finances proactively, from tracking expenses and managing bills to forecasting future cash flow. This comprehensive approach helps small businesses make informed financial decisions, streamline accounting processes, and maintain robust financial records.

5. Integrated ERP for manufacturing 

For those working in manufacturing, an ERP system should offer more than basic inventory management. Look for solutions that provide detailed production planning, supply chain management, and quality control functionalities. An integrated ERP system, especially combined with a financial tool like Xero, can provide a comprehensive view of your business operations from raw material procurement to final sales. 

Small and growing companies should also be looking to avoid taking on the up-front costs or the technical burden of on-premise ERP solutions. With Fortee, you can begin your digital transformation with an affordable, modern and cloud-based SaaS solution.