In the modern business climate, technology can mean the difference between delays and timely completion of projects, and it's been found that many business owners aren't using resources that can save them valuable time.
Tax headaches could be avoided
According to a GoDaddy survey, one key point where technology could help businesses, but businesses themselves aren't responding to, is in tax-related technology. While modern tax programs are strong enough to complete an operation's taxes in mere hours, more than half of all small businesses reported still using manual processes such as spreadsheets or pen and paper to track their finances. As a result, delays are common for most of these businesses, as nearly 40 percent spend more than one business day preparing their taxes.
To compound this problem, two in five small business owners reported that their least favorite part of the business is in bookkeeping and taxes. Just as many have little confidence in their ability to perform these actions well, further emphasizing the importance that this technology can hold.
It seems small business owners are often missing opportunities to streamline their financial needs, the survey continued. Nearly half of small business owners surveyed reported having never worked with accountants. Nearly half of those who do work with accountants only hire their services once per year, or only when they have specific questions. With the latest advances in tax software technology, many of these headaches could potentially be avoided completely.
Virtualization can provide benefits as well
Business News Daily added that another aspect of the market that small business owners aren't using enough is virtualization. While it normally caters toward bigger companies, several virtualization strategies can help push an entire computer network to the cloud, providing 24/7 access to information and infrastructure, as well as improved computing power.
There are various features that can be found on different services, depending on where a business wants to focus its emphasis. For instance, virtualization can simplify networking services while making storage and security stronger to better protect data and applications. Others can instantly virtualize applications, making them accessible from anywhere. Businesses that look into development strategies will likely find more than enough to help them streamline their services.
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