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5 Must-Have Tech Investments for Small Business Growth

Updated: Jul 13, 2022

As the owner of a small business, you might find it hard to justify new expenses. After all, growing a small business is tough, and it’s only natural to feel concerned about overspending. But sometimes, investing in new technology is the key to boosting your revenue and recruiting great talent. For instance, using assistive technology can help you accommodate Deaf employees and customers, especially with support from Deaf Umbrella! The following tech investments are definitely worth budgeting for.

Accounting Software

If you’ve just opened your business, and your cash flow is relatively minimal, you might have assumed that accounting software was an unnecessary expense. But accounting software with invoicing capabilities is a fantastic investment, especially if you’re a new business owner who might be confused by the ins and outs of bookkeeping. Accounting software will allow you to stay up to date with bookkeeping - plus, you can receive payments faster and upgrade your company’s invoices. With software that enables customers to pay online directly through their invoices, you can also get alerts when payments are received and set up recurring invoices for future transactions.

Accessibility Technology

It’s important to ensure that your workplace is accessible for employees with disabilities. Take some time to research assistive technology for your industry and figure out which tools you can incorporate at your office or brick-and-mortar shop. You can apply the same principles to designing your company website. For instance, to ensure that your website is accessible for Deaf visitors, Hearing Like Me recommends adding captions and subtitles to any videos and providing contact options other than a phone number.

Cybersecurity Precautions

No business can afford to skimp on cybersecurity protections today. To keep your company safe from cyberattacks, Simply Business recommends implementing a backup storage system for important data and setting up two-factor authentication password protections for all of your crucial systems and documents. If you need assistance, you may want to work with an IT consultant who provides cybersecurity support.

PDF Password Protection

Chances are, you’re sending sensitive company documents and financial information to different employees, clients, or other key stakeholders on a daily basis. Setting up password-protected PDFs is the easiest way to keep these documents private in the event of a cyberattack. Should you have to make any changes to a crucial PDF, you can find an online PDF editor to revise text and graphics, all without being forced to convert the file to another format. All you have to do is upload the file online, make the necessary changes, and download it.

Customer Relationship Management Software

There’s nothing more crucial to the success of your business than your relationships with your customers. If you can’t manage your leads effectively, your profits will suffer. That’s why customer relationship management software is key.

A comprehensive CRM system can handle a wide range of different functions, including contact management, sales pipeline documentation, email marketing tools, sales reporting, and sales and marketing lead management. Furthermore, you can find CRM software that includes other capabilities, like time tracking and collaboration support! Check in with other entrepreneurs to get their recommendations for CRM systems. You’ll want to choose a program that is suitable for the size of your business and can accommodate company growth.

In the early days of your business, it can be hard to judge which purchases are worth the money. You might be hesitant to invest in new business technology, especially if it comes with steep upfront costs. But with these suggestions, you’ll be able to figure out which technology will provide the biggest returns for your business.

Do you need sign language interpreter services for your organization? You can find support with Deaf Umbrella. Fill out the contact form on our website today to get started.

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