With the worry of a recession looming and inflation stubbornly refusing to shrink, 2023 is predicted to be a tough year for everyone, businesses included. Despite the rather bleak outlook, there are ways to prepare and adapt to ensure your business can ride out the storm and remain profitable.
Consider remote working
If your business allows, consider having your workforce work from home permanently. You’ll immediately save money on commutes, energy costs and rent if you currently hire an office space rather than own one. If you’re worried about communication and collaboration whilst working from home, a cloud-based communications platform such as Univerge Blue Connect can help ensure your team can still work together efficiently.
Update old systems
Outdated systems, like traditional phone lines could be costing you money, not just in running costs but also having to pay for more than you’re actually using. Updating to a new VoIP system now can save you money immediately on phone bills plus you’ll beat the rush when BT Openreach switch off the analogue and ISDN phone network in 2025. With businesses reporting up to 80% in savings on phone bills after switching to a VoIP system, there really is no reason not to!
Modernise
Make sure your business is in the 21st century and not wasting money where it doesn’t need to. For example, if you’re spending a lot of money on supplies for print advertising, consider whether you can transfer that marketing to digital efforts instead. Things like social media, blogging and improving your website are things you can accomplish yourself without spending anything other than your time to drive more traffic to your business. Similarly, ensure your databases are all online and you’re not wasting money printing out massive documents when you don’t need to – this is also better for the environment!
Use efficient time strategies
Optimising productivity helps cut business costs. Analyse how you and your staff are working – is it as efficient as it could be? Consider things like how long meetings need to be, whether your staff can carry out meetings remotely instead to save on travel costs and if you can utilise software to ensure deadlines are being met.
Get in touch
Looking to cut your business costs and feel that a VoIP system would be a step in the right direction for your business? We understand that each business is unique, so all of our advice is tailored specifically to you. Give the Equations team a call today on 01237 420010 to discuss your upgrade options or to book a free review of your current system.
