How a Business Can Target Tech Problems from a Cost Basis

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By Simon Davis

Any organization that has an actual problem is instantly going to want to deal with it. When the writing is on the wall, all hands are on deck, and one hundred percent of effort goes to figuring out how to fix the problem so that individuals in the organization can get back to work. However, when it actually comes down to continuous process improvement, there doesn’t seem to be the same sense of urgency when you look into the day to day operations. When evaluating a business on a continuous level, it is imperative to see things from a financial side and fully understand the bottom dollar of every operation or segment.

Manual Labor Based Operations

Controlling Business CostsNot only can manual labor wind up costing a lot more time due to the needs of the workers to rest, recharge, and simply due to their inability to maintain strength and endurance, manual labor jobs carry much higher expenses as well. The workers’ compensation costs associated with employees in manual labor positions getting injured are much higher from an insurance point of view, and the safety compliance and regulation costs can be even more ineffective when you think about the additional safety committees and recommendations that have to be put into play.

When you finally consider the potential lost costs due to employees being injured, the man hours lost for rest or for training new replacement employees, or even the prices for increases in wages to attract employees that will injure their bodies with wear and tear over the years, it is absolutely a major problem to continue on the expensive path of manual labor. As expensive as major machines can be in an organization, machines don’t slow down, don’t need water breaks, don’t take sick days (or even weekends and holidays), and they definitely don’t waste time due to injury. The field is primed at this point so any and every organization needs to look into how tech can improve their machines.

Accounting Systems

With respect to the multiple accounting fraud and banking fraud acts over the last decade or two, the ground is ripe for accounting related misinformation. At each and every transactional step of the way you have to verify exactly what is being spent, when it is being spent, how much, and etc. That’s why instead of doing things after the fact and trying to make up the grounds or the information, you have to understand that instantaneous information will not only give investors a live look at where their money is going, it will also let managers see real time data on what is coming in and what is going out. Technology just doesn’t need to be limited to accounting after the fact for transactional data, it needs to be taken into the point of view of real time information so that it can be better analyzed and so that money data can always be available down to the minute.

Technology Troubleshooting and MIS

The computer geniuses and professionals within any organization always have a lot to do. The problem is that they sometimes have more to do than they can imagine, and other times they will sit around for days. From a business point of view you never want to have too many experts just sitting around in an office because they eat up a decent salary before you even get to the overhead associated with them. However, when you also account for their on-demand need, and the fact that if you don’t have them then you could be losing countless dollars from unproductive equipment, then you realize the conundrum that many managers are in.

The good news is that when it comes to video conferencing you do have a significant amount of flexibility on your side. Not only can you tap into the potential power of the best conference call for IT by Blue Jeans in order to keep your experts always on call, but when you think about the expanding workplace dynamics and having employees on the road or working from home more often, it only makes sense that you can see technology being maximized while downtime and expenses are being minimized.

At the core of any specific business is the goal and the definition of providing value to shareholders and owners. One of the ways to do that is to increase the revenue and income of a firm, and the other is to minimize the expenses so that more revenue can be kept within the organization. As technology continues to grow there will be a greater need and dependence upon computer sciences in general. The only key that you need to learn how to follow is the ability to maximize how that technology is used and continue to look for ways to find even more efficiencies.

About the Author: Simon Davis has been a full-time business writer since the last 4 years and has had the privilege of attending some of the most renowned business conclaves held across the world. When not on business he loves spending time with his girlfriend and a bit of adventure sports. 

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