Digital Transformation: Ways to Reduce Costs in Business in 2021
A company building is a traditional way to conduct business, but in the modern world, you can work from anywhere and anytime. The internet is a vital asset that’s taken for granted by a lot of companies. Considering that there are numerous benefits to using online applications, not doing so puts you at a disadvantage.
While moving your operations digitally might seem like an arduous uphill battle, the transition doesn’t have to be cumbersome or complicated. Here are some of the latest digital transformation trends for Australia, to help give you an idea of how you can plan out an effective digital transformation strategy.
What is Digital Transformation?
Digital transformation, which means integrating digital technology into most—if not all—aspects of your business, will save you time, money, and elevate your company to the next level. There are a plethora of applications and trends online that you can use to manage your tasks, plan out a collaborative schedule, and even send faxes digitally.
All these products of service are faster, cheaper, and better tools that help your business grow.
Think of it this way.
Do you have a storage cabinet full of files at work? Subscribe to a cloud storage service like Google Drive and store your files there instead.
Tired of manually sending out a fax with your own machine that costs hundreds of dollars for maintenance? Use an online faxing service like eFax, which comes with benefits like unlimited storage space, efficient sorting and fax storage, and more.
What Kind of Digital Transformation Can I Do For My Business?
There’s virtually no limit to the effectiveness and alternatives of online solutions for your business. If you’re thinking about an application that you need for work, the chances are it already exists.
Here are a couple of examples to help set you on the right track.
Planning out your day, your week, and your employees’ schedule is a necessity for every type of business. Knowing what you need to do, and being informed of what your employees are currently doing helps to keep you on your toes while avoiding the idle chitchat of having to ask them what’s on their itinerary. Save hundreds of dollars on markers, post-its, and whiteboards by transferring your tasks online.
Online collaboration programs like Asana, Trello and monday.com are all fantastic applications that help you keep track of tasks, deadlines, operations, and progress reports. Not only can you conveniently see who’s doing what, but you can access this database on your phone.
Any business person that’s had to do some bookkeeping on their own knows exactly how meticulous the finance side of a business can be. Furthermore, even after you’re done tallying up all the expenses, wages, taxes, and other costs, you’ll still have to keep your bills and paperwork sorted out and arranged. This can easily add up on costs for folders, clips, storage space and so on.
Programs like QuickBooks and FreshBooks are industry-standard programs that provide a ton of useful features and versatility for bookkeeping. You can save pictures of receipts, categorise your data, and make proper invoices from the apps themselves. Just like most digital solutions, you can also access this from your phone or your computer!
Managing, sending, or storing data is a messy situation that traditionally requires a filing cabinet, a courier, and a bookkeeper. Well, what if you had all three capabilities in one program? eFax has a ton of features that make it the best online fax broadcasting service for sending, organising and storing faxes, and more.
Not only will you benefit from an unlimited storage plan, but your business will also service your clients better with timely, secure, and data-encrypted faxes. Large companies commonly use online faxing services to communicate with their customers and clients due to the nature of faxes being more reliable than emails. With over 11 million subscribers in 46 different countries, eFax is an industry-leading service for online faxing.
Remember that thing about online faxes being data encrypted? Well, one of the reasons why faxes still remain the business standard for nearly everything business-related is because it’s secure. For one, faxes are the only acceptable documents for legal reasons in most cases, especially when signing documents remotely. Additionally, by moving your faxing online, you’ll save costs on printer maintenance and ink.
Unlike emails that can potentially get intercepted or lost, faxes are sent via telephone lines. This makes the entire process much more secure because cyber-intruders would have to manually access that telephone line to intercept your fax. Furthermore, even if they did manage to intercept your fax, they’d still have to decrypt the message, which is next to impossible.
Technology & Equipment
Digital transformations aren’t limited to programs you can use on your computer. There are a plethora of technological advancements and equipment that you can use to elevate your business. Here’s an official report from the Australian government on the country’s technological future. Innovations like drones, cargo machines, smart tools, and other combinations of hardware and advanced software are out there and will play an increasing role in how the industry proliferates into the new decade.
A typical niche, for example, would be the logistics of most products. The technology for tracking your parcels has since improved with scanners and real-time trackers. You can best see this in maximum effect with Amazon’s one-day delivery system when using Amazon Prime. Not only is Amazon’s delivery rate faster, but it’s also cheaper for them to employ full-time robots that eventually pay for themselves.
Billboards are outdated, and flyers aren’t the most eco-friendly and effective marketing program. With SEO-performant articles, a dedicated website, or even Instagram and Facebook marketing, you can bring in clients from all over with targeted, personalised advertisements. Not only that, digitising your advertisements usually means you can select the demographic you want your services to be shown to which results in greater conversions and sales.
For example, if you’re a local coffee shop that’s trying to gain regular customers, you can send out a localised advertisement for social media users that are between the age of 18 to 35 years old. This example can also work for other businesses: real estate agencies, law firms, construction companies, and so on. You’ll be able to save money on printing flyers, brochures, and even tarpaulins just by changing your investment strategy to online blogs.
Australian Success Stories With Digital Transformation
A good success story or two is always an excellent way to appreciate business transformations. Here are two success stories from businesses that have benefited from transforming their businesses digitally.
Mayfair Property Management
Lauren and her father, Leigh, decided that Melbourne was the best place to start a property management company. The Mayfair Property Management company started filling in little gaps in the market at first. But, when they decided to take the next step and upgrade to an NBN network, that’s when the business started rolling.
The upgraded internet speed not only allowed them to be quick on their services but also allowed their projects to be streamlined with online project management programs.
The McCabe Construction Group
For the McCabe construction corporation, talking and communicating with clients was always done with their fax machine. However, because of how limited the capacity of the machine was, the corp was losing about $1,300 a week per person from holdups and delays. Eventually, the corporation transitioned to online faxing services with eFax, saving them thousands of dollars a month.
Not only did they save on costs but the corporation also performed better by sending out faxes on time and having the luxury of using eFax’s organised storage system to sort out their files.
Getting Started With a 30-Day Free Trial
Taking your business through a digital transformation means getting the best products of service to put your company above the rest. In less than five minutes, you can start a 30-day free trial with eFax and join the top-ranking companies who subscribe to online faxing. Alternatively, you can even call 1800-283-361 to speak to an eFax representative to get you started.