How Does Technology Support Small Businesses?

Technology is changing rapidly, and small businesses are enjoying access to better software at more affordable prices. Below are just a few of the many ways that today's technology is supporting small businesses.Software as a ServiceRemember when it used to cost thousands of dollars for business software plus expensive licenses for each user? New software investments also often meant investing in new hardware capable of supporting that software. None of this came cheap, making it hard for business owner to keep up with larger ones with deeper pockets. Today, powerful software is readily available in the cloud "as a service." Rather than paying huge amounts up front, Software as a Service costs are typically spread out and billed on a much lower per month basis.What types of software can you get as a service? Here are a few popular types of SaaS offerings:. Small business accounting software
. Customer relationship management software
. Content management software
. Asset management software
. Office suites (word processing, spreadsheets, etc.)
. Email marketing software
. Project management software
. Human resources software
. Team collaboration softwareCloud-based software is accessible via a Web browser, making investments in hardware virtually unheard of. Cloud service providers take care of all maintenance and upgrades, freeing small business owners from having to figure this out on their own or hire an IT tech to do it for them."As a service" solutions also grow with your small business. You can start out with just a few licenses and then add more (or remove) users as your needs change.Data ArchivingIt's not just software that now resides in the cloud. Document storage has also moved to the "as a service" model. For example, you're likely familiar with Dropbox, Box, and Google Drive. A recent innovation in this space has to do with data retention and archiving.


According to Dolphin, SAP Cloud Computing Solutions such as Content Archive Service for Cloud allows small business users to archive data and documents in the cloud for transparent "anytime, anywhere" access (Source: Dolphin, Cloud Storage for SAP Archived Data and Documents). Dolphin's Content Archive Service for Cloud is a Storage as a Service solution that connects to major public cloud providers like Google Cloud and Amazon S3. Cloud storage allows for cost alignments between SAP storage and the value of your data. For example, data you frequently use can be placed on high performance storage devices whereas data you need to archive but not necessarily access regularly can be placed in a lower-cost cloud storage service -- at significant savings.Merchant ServicesCloud-based credit card processing solutions allow small business users to ditch the traditional credit card processing terminal and process transactions online -- or even on a smartphone with a small card reader attachment. Not only that, many cloud-based merchant services can be integrated directly within other applications such as billing software or an e-commerce store (Source: Accounting Today, Understanding How Technology Supports Small Business Success).Small businesses now have access to the same enterprise-level applications their larger counterparts use, but without the need for huge upfront expenses. From Software as a Service to data archiving, merchant services, and beyond, cloud-based technologies are changing how businesses operate.Works Cited:Accounting Today, "Understanding How Technology Supports Small Business Success," - http://www.accountingtoday.com/news/payroll/understanding-how-technology-supports-small-business-success-72015-1.html

Where To Turn When The Bank Turns Your Business Away?

Where does a small business turn when the banks turn them away? This is becoming more and more common in latter years as the banks feel the pinch in their own coffers, having lent out millions in bad loans and irretrievable credit due to business going insolvent.There are many hoops a business needs to jump through to be approved by a bank for a small loan, and there are many reasons why a small business would need such a loan. Cash flow is usually the primary candidate for a company's directors visiting a bank, hat-in-hand, asking in no uncertain terms for an increase in their line of credit.As the banks reign in their willingness to pass out the cash, businesses must resort to more left-of-center mechanisms to secure a line of credit quickly. Legitimate and ethical factoring companies are one option. The days of the loan sharks are dwindling (depending where you live in the world... ) and many legal entities have sprung up in their place, recognizing that it is a market ripe for the plucking.Companies that get caught out with their cash flow erring on nil, or worse still in the negative usually find themselves in such a position because they've paid their staff, their bills and their rent, but their clients have not returned the favour by paying their invoices on time.While the need for a short-term cash flow solution is merely a 'trailing indicator' highlighting the problem, which a business should act on (they should make their payment terms less than those of their creditors) it doesn't change the fact that if a quick injection of cash is not found, the company will have its creditors baying for blood.Enter the factoring solution. Factoring involves a impartial third party company, which will purchase any invoices owed to you, the floundering business, to a percentage of their value, and give that cash deposit in as little as 24-48 hours. This impartial company will then chase your client for the total invoice. Once that amount has been received, the factoring company pays you the difference less their commission for their service. While this might seem like 'legal loan-sharking' on the surface, it is all done above board, and this impartial factoring company is unlikely to touch bad debt seeing as they stand to lose out.


What is important to note if you choose to go down this path is that research is the key. Some factoring companies compound their interest over time until they are paid by your client, and send you the bill. Here's a possible scenario;· You are owed $50,000 by your client, who have intimated they cannot pay you for 30 days, but you need that cash in a week due to $30,000 in bills and wages you need to pay.· Enter the factoring company, who buys that $50k debt at 80% giving you $40,000 in your bank within 24 hours. Great your cash worries are sorted!· Under the terms of your agreement with said factoring company, you'll be charged 7% in commission for the help, so out of that $50k, you're to receive a total of $46.5k.· However, this is calculated monthly, and after 3 months, your client still has not paid their initial debt, now owed to the factoring company.· This has compounded the interest to 21% (over 3 months, 7% per month) of the total amount, which is $10.5k.· Under this scenario, you've now exhausted the $10k buffer you had, and now owe the factoring company $500 for their troubles.The moral? Ask around and make sure you're informed on all the terms and conditions before you engage a third party to help you out of a cash-flow jam.

Colocation Services For Business

Colocation services or centers are a type of rental service system that focuses on providing many services to the customer such as space, bandwidth, and equipment etc. at an affordable price. Due to their cheap prices and flexible options, they are a preferred option for most small and mid-sized businesses looking to establish themselves in the market. By providing contract term services to such businesses, managed colocation is quite a cost effective and beneficial solution.Business owners can make use of these services in order to make the maximum use of the resources that they have available in order to accomplish their objectives rather than concentrate on the overhead involved. However, due to the many available options and choices, it is important to compare all the offers available in order to make a well informed decision while choosing colocation services. Business owners can make use of such centers in order to get all the services that they need such as power, security, and cooling etc. at easily affordable prices without having to compromise on the quality.Different services provided by colocation centersServices offered by colocation centers are usually on a contract or rental basis with small or mid-size businesses. They mainly include services such as:

Power- Whether it is AC or DC, these centers offer a variety of power supply to the businesses based on their needs and requirements.

Security- These involve features such as CCTV monitoring, employee tracking, and biometric scanning etc. that can improve the physical security of the business. By using features such as badge access and logging, intrusion and unauthorized entry can be checked.

Cooling- This is particularly important for businesses that deal with mass computing or internet related services. Adequate measures for cooling the servers are introduced in order to avoid any failures or system breakdowns.

Network connectivity- Based on the needs and requirements of the user providing the adequate connectivity features for the user.



Apart from this, they must also provide real time monitoring of all these systems and make sure that they are all working without any hiccups. Backup or redundant systems can be provided which can be used temporarily in the case where the primary system fails. Though this can be a cost effective solution in the long run to help your business grow, performing adequate research on colocation pricing can help you avoid paying for unnecessary features and thus make a well informed decision.As there can be many such colocation centers available in the market, it is often confusing for the customers to choose the best solution that meets their requirements. In such cases, you can go through the reviews and the user opinions of several colocation services in order to better understand the customer support that they provide and the level of satisfaction that they have managed to achieve with their previous customers. This can help you avoid choosing any inefficient or faulty service and get the best value from your investment. Therefore, taking some time out to compare different deals can help you narrow down the most beneficial and cost effective solution. You can select a colocation facility in any location. For further information contact your local IT support guy or local IT services company.

Booklet Tips - Why They Want Your Booklet

There are endless reasons why someone wants your booklet, whether a single copy or thousands of them. Next time you ask yourself the value of sharing your knowledge by creating a tips booklet, think about how you can improve someone's life. These are just a few possibilities:

Personal improvement -new knowledge to live life better

Bragging rights - ability to impress others personally, professionally, both

Easy doorway into perplexing topic - tips can simplify complex ideas concepts

Portion control - easy to digest, be ready for more; ideal for short attention span

Marketing tool - long-lasting helpful way to attract and retain buyers

Media darling - journalists love using tips to fill articles and to prompt interviews

Affordability - booklets cost less than many other information products
Those reasons get you thinking, quite possibly in ways you never considered or that you previously minimized. Depending on the circles in which your buyer travels and their own life experiences, bragging rights may be important to them.They want an executive summary of information that better equips them for professional social situations. That may never have surfaced in your thinking because it is completely outside your experiences or personality. It is important to them, though.Becoming a media darling with tips means you helped the journalist fill space with good, solid information. That journalist helps you by including your name and website address as the source, expanding your reach and promoting your business. The journalist is likely to come back to you again for more of your tips because you made it so easy. While you could provide a tip sheet rather than a booklet, the booklet makes a different statement of professionalism and shows you've got more to be used in future articles and interviews. Everyone benefits - you, the journalist, and audience.


Having tips booklets for bulk buyers gives them budget options they may not have realized existed. They liked you when they brought you in as a speaker, coach, or consultant, liked the knowledge you had, liked your professionalism, and wish they could package you to share with their world at a price they can manage. That's when they are thrilled to know about your tips booklets. Not only do you have a product that suits their requirements, you can suggest ways for them to use the booklets now and in the future, based on what makes the most sense for them.ACTION - Listen to people you're talking to for ways your booklets can help them, whether it's booklets, other formats of your information, single copies, or bulk copies. Clues are sometimes hidden within the words or the tone of voice or how often a reference is made to a particular situation. You now have some new awareness of circumstances you never noticed, had forgotten, or simply never considered. Some of the best applications of tips booklets and other information products have happened when the proverbial light bulk went on over someone's head to use them to solve a challenge in new way. That means sales for you when you can initiate that conversation, while possibly becoming a hero in the process.Turn Your Tips Into Products, Your Tips Products Into Moneymakers TM" © 2014 Paulette Ensign

Consumers May Have To Wait A Little Longer For The EMV Secure Credit Card Technology

The October 15th deadline to replace all credit and debit cards with the secure EMV chips may be pushed back. The recent hacking of major retailers like Target and Neiman Marcus prompted the U.S. to mandate the technology already popular in Europe. EMV is essentially a microchip embedded into the card that generates a unique code for every transaction making it more difficult for thieves to use fake cards with stolen data. An independent consultant firm estimates that roughly half of the cards in the United States will not have the new technology by the October 15th deadline. What does that mean for the card issuers and retailers? It means they will most likely be responsible for any fraudulent transactions that could have been prevented with the EMV chip technology. The merchant services industry as a whole is already very complicated so adding another variable into it will give many small business owners headaches and more gray hair. Globally debit and credit card theft is an 11 billion dollar problem every year and growing.While a major hassle for retailers, ultimately they will all have to adjust and make the necessary changes and adapt to the EMV technology. For business owners thaqt are not currently accepting debit and credit cards, now would probably be the time to make the transition. Not having the capability could shut down many small businesses since they'll be held accountable for any fraudulent transactions. Consumer groups say that fraud is still much more of an inconvenience than adapting to the new technology.


A survey done by an independent firm shows that more than 80% of small business owners are in favor of the new technology. One business owner was quoted as saying "A couple of fraudulent charges or bad transactions could almost put us out of business especially if they're large transactions". He went on to add "Our family has built and owned this business for over fifty years now. Having to shut our doors because we didn't comply with the new EMV technology would be heart shattering".While a lot of businesses will not make it by the October 15th 2015 deadline, you can most likely bet that in the end all businesses whether small, mid-sized or big businesses will make the change. The EMV technology is the standard already in Europe and you can bet that soon it will be the same here in the States.http://www.mynewmerchantaccount.com

Boost Your Income By Starting A Home Based Business

When starting a home based business in order to boost your income, four things to consider are the tax advantages, doing something that you love, the security of your current job, and your self-esteem.Your home office is one of the greatest tax advantages for a home based business. You have the ability to deduct a percentage of most of your household bills (utilities, rent or mortgage, property insurance, property taxes, cell phone, and internet) based on the percentage of your house that is the footprint of your home office. It is helpful to dedicate a separate room to your home office and accurately calculate the square feet of that space in order to calculate your deduction. Other tax advantages include education expenses for classes that you enroll in to improve your skills to run the business, traveling and meal expenses, transportation for business purposes, if your business sells products then you get additional advantage for having inventory in your home, software purchased to run your business, the cost of uniforms, office supplies, home improvements to your home office, and items that you need to run your business in order to boost your income are just some of the key advantages.Do you have a hobby that you love to do? If you are good at building websites, making jewelry, or home repairs then creating a website design, jewelry design, or local handyman business seems like a good fit. Would owning the type of business that is your passion make you happy and fulfilled?Many people cannot quit their job to start a business that may not generate the same level of income. To boost your income it is a good idea to start with a home based business so that you can keep getting your weekly paychecks in order to pay your bills and fund your new company. Once your company reaches milestones of success and you are ready, you can leave your current job and focus solely on your business.As a stay at home mom, a recent graduate, or a senior who wants to start up your dream business, it will feel amazing to begin a new journey. Your journey of self-empowerment and personal growth development in starting and becoming successful with your own business will elevate your self-esteem to new levels. The family legacy that you will leave for generations to come will be a reward to you and those you care about.


To gain inspiration on how to boost your income you will need to do your research and seek the help of a mentor, coach, or friend who has their own successes and are willing to share their knowledge with you.Approaching someone to ask them to be your mentor can be overwhelming. Generally, you want to look for someone who you really respect and look up to. The possibility of that person telling you no can be frightening. On the other hand, what if that person says yes, and you find that they are what you that you thought they were. If you lose your hero as that person falls off of the pedestal that you have placed them on will not keep your positive momentum going that you have found with your business.If you go with a professional mentor or coach, find one who fits you and your personality. You may not know what you need to be successful, so approach a coach with questions that will get them to explain their coaching style. Can they help you discover the best that lies within you and unlock your hidden potential? Ask for details about how they intend to do it. Finding someone who has been in your similar situation and who has succeeded by doing what you are trying to do is a great start.Mentors and coaches know what it takes to be successful. Look for one with a passion for helping others. Ask them how many people they have worked with and why is coaching and mentoring their passion. If you like their answers, take a chance on them. Knowing that you cannot do everything on your own is the first step to becoming a successful entrepreneur.

Managing Small Business Technology

Technology Levels the Playing FieldOne advantage small business has gained over the years is the ready availability of sophisticated technology that was once the exclusive asset of the largest corporations. But with this benefit comes the additional responsibility of proficient management of that technology.Customers Demand Better ServiceToday's customer has come to expect the greater convenience and efficiency the Internet Age, with online connectivity to company accounts, or at least computerized records, information databases, and customer management systems.A Technology Breakdown Can Be a Public Relations NightmareManaging your technology may not be at the top of your list of important business activities, but perhaps it should be, because how your computers, database, network, phones, etc. are running can make the difference between being seen by your customers as competent and caring about their needs, or inefficient and unconcerned.Asset Management Can Be a Daunting TaskYour technology must be chosen and sized to the required tasks and your staff must be proficient in its operation, but there is much more to keep track of. Your technology must be periodically upgraded. It is vital that software be updated for security and fixes. Hardware and software depreciate and must be either upgraded or replaced. When facing budget constraints, decisions must be made whether to continue using current equipment and software, or to replace it. For example, perhaps a three-year depreciation cycle could be extended to five years, but circumstances might dictate replacement, such as the inability of older equipment to support the software needed to remain competitive.Threats Cannot Be Ignored


Damage from computer viruses, unreliable power sources, improper usage of software, etc. is a problem small business managers didn't have to deal with in the past. Proper rules need to be set up, taught to your employees, and enforced. Commercial grade surge protectors, UPS (Uninterruptible Power Supplies), or even backup electrical generation may be necessary for the protection of your equipment, and proper technology training of your employees is always important.Technology Glitches Must Be Handled ProperlyNo matter how good your hardware, software, and employee training, technology breakdowns do occur. Properly handling them is a matter of communication. For example, if a customer experiences difficulty accessing their account, they may keep trying over and over. This uses valuable bandwidth and CPU time. Multiply this by many customers trying to access your system, and your network, as well as your technicians, could be tied up with customer requests instead of working to solve the problem. The solution is to tell your customers you are aware of the problem, apologize for the inconvenience, and let them know you are working on it.Outsourcing As a SolutionMany businesses solve their technology management problems by contracting with an outside technology management service. It is important that you chose one which is competent, flexible in its prices and levels of service, and has a reputation for effective communication with its clients.Managing your business technology is as important for your business as sales, employment, and other aspects of your business. Properly managed, technology can give you an edge over your competitors and bring you up to the level of the large corporations.

Why Small Business Funding Can Be the Answer to Your Problems

Over the past few years, unemployment rates have increased to higher levels than ever before, which has resulted in many people deciding to start up their own small businesses instead. While small business ownership is a good thing, many entrepreneurs can in fact benefit greatly from using small business loans or other types of business funding to help them get ahead.It Acts as a Safety NetMany small businesses have not been in operation for long enough to have been able to build up a reasonably-sized company savings account. As a result, they often run into severe financial difficulties if their businesses experience more than one or two quiet months in a row. Being able to secure some sort of funding to cover necessary running expenses during these times will often make all the difference between businesses being able to keep their doors open or having to close up shop permanently.It Provides Investment CapitalAt some time or other, almost every small business owner dreams of the day where he or she will be able to stand head and shoulders above competing businesses in their industry. However, in order to do this, additional funding is required, which most small businesses simply do not have. Funds obtained by means of small business loans can normally be used to improve or enhance any infrastructure and business-related equipment or cover the cost of any training courses that may be required to improve business skills.It's a Low-Interest Loan OptionAlthough numerous smaller businesses desperately require additional funding, many of their owners make the mistake of applying for the first loan option that they can find. This can become extremely costly because of the fact that the business does not yet have any proven financial track record, credit rating or any form of collateral to offer. Dedicated small business loans can sometimes be quite challenging to qualify for; however, business owners who are successful in receiving them will normally find that interest rates and repayment terms tend to be far more favorable than those of standard loans.


An Alternative to Traditional Business FundingUnlike regular loans where fixed repayments have to be made each month, a business cash advance provides small business owners who use merchant credit card services with additional cash when it is most needed. This is done by enabling business owners to receive a cash lump sum in lieu of future card sales that will be made. The amount that is borrowed can then be repaid as funds become available to the small business owner, and two of the only restrictions to being allowed to apply for this type of funding are that a business needs to have been in operation for 12 months or longer and that it has to have at least one brick and mortar location.If you are a small business owner that has been operating for longer than a year and you have an excellent credit record, your chances of being approved for a business cash advance are relatively high. At the end of the day, it makes far more sense to use a business cash advance than it does to apply for traditional loans. Before applying for any other type of loan, feel free to contact us to determine whether you will qualify for a business cash advance.

The Need For Implementing A Good IT Service

The age of internet has pushed most businesses and companies online. Whether it is e-commerce sites or any other kind of service, people prefer shopping online due to the many added advantages and conveniences. However, as most of the hosting services are based on the internet, the associated problems and maintenance cost also increases. The website hosting service must be secure and be able to recover from disasters with minimal down time. In order to ensure such features and capabilities for your business, it is best to avail the services of business IT solutions. You can either set up your own IT support team or consider outsourcing the work to a company or firm that specializes in such fields. However, as most small businesses and industries cannot afford the costs of implementing a new IT support system, outsourcing the work is the best possible solution. Apart from being a cost-effective solution, you will be able to delegate all the management and security issues to the new company thus relieving you of a lot of stress and effort allowing you to focus on your main business objectives.When choosing IT computer services for your business, it is important to make a well informed decision in order to get the best out of your investment. The role of IT services in the business varies from the nature and the size of the business. For banking or trading applications, a higher priority is placed on data security. This is usually managed by a computer services team which can alert the user in the case of any intrusion or authentication failures. Similarly, businesses of large size such as e-commerce websites or information hosting sites must place more emphasis on the management of data. Again, this is implemented by the relevant IT services by making use of database servers and management. Therefore, no matter what kind of business you intend to start, implementing a good IT service is an important aspect that can guarantee efficient management and utilization of resources.


The need for implementing a good IT serviceAs businesses grow in size, it becomes more difficult to manage the different aspects of the site. Apart from this, implementation of new technology also makes it difficult to monitor all the servers involved and guarantee accurate working. In order to avoid spending too much time and resources to monitor and manage the network, you can consider the benefits of an outsourced IT company to get the best results. By hiring the right IT team, you will be free to use your resources in a more productive manner rather than concentrating on unimportant tasks or work. This can also help you save a lot of money and time in the long run by decreasing operational costs and increasing the efficiency of the business. Tasks such as handling the security or maintaining and updating the servers and the systems can be outsourced or delegated to IT support companies at a nominal rate.As they are more experienced in handling errors and failures, they will be able to use their expertise and find the best possible solution for your problems. For further information contact your local IT services company or local tech support guy.