How Technology can Aid Cost Reduction in Business?

It never ceases to amaze how technology has completely changed businesses. It has touched every aspect of business for the better. The best part is, the journey continues unabated. Embracing each new innovation in technology is what smart businesses do. After all, the bottom line is about increased efficiency and productivity. Proper use of technology can cut down costs for businesses. Find some ways to do so below.

B2B integration

This technology has been around for quite some time now and helped many a business in their boom story. It has evolved over time to suit changing needs. It was initially introduced to take businesses out of offices and into the world while seamlessly integrating processes. In these times of internet and virtual nature of transactions, businesses are increasingly dependent on B2B. The crux is to be able to choose the best solution for your business. You get to save costs on human services as well as stationary and distribution efforts.

Enhanced CRM

CRM stands for Customer Relationship Management. Running a successful business means liaising with clients and customers on various levels. A huge workforce would be required to keep up with marketing, training, data entry and much more. It is time to switch to efficient CRM software that can adequately address all your requirements. You will be surprised by the savings in terms of costs and time, which can be utilized in helping your business grow.

Efficient webinar

Do not confine your ideas to a seminar hall any longer. Going global while saving costs hugely is what a web-based seminar aka webinar offers. As the need increases, so do the tools. You may choose depending upon your specific requirements. The costs and logistics involved in arranging a physical seminar, from the venue to the menu and everything in between and beyond, can be staggering. You save on all of that with webinars.

Improved teleconferencing

A very powerful way to reach customers and employees globally is via teleconferencing. Businesses have options of audio, business TV, and computer conferencing. Adopt this logistically favorable technology and help propagate your services worldwide. It helps cut costs while getting your product the visibility and promotion it requires. Cut down on travel, accommodation and time wastage with teleconferencing.

Cloud computing

Data is king in the modern world. Every resource that you can think of is driven by immense amount of data. With every move you make, knowingly or otherwise, you end up generating loads of data. Mining and interpreting data correctly can lead to spectacular business growth. The problem is- how does one handle this immense amount of data? From efficient storage to easy retrieval while ensuring security is one of the prime challenges. This is where cloud computing technology has come to the rescue. The choices are many and there is immense cost saving when opting for this.

Running a successful business means that you should make best use of resources while cutting costs and getting best results for your company. Adopt these basic tech tools immediately to streamline your strategy.


Technology has not only brought about revolutionary changes in many businesses, it has also paved the way for serious cost-cutting. The use of technological tools such as B2B integration, CRM software, Cloud computing, teleconferencing and webinars have indeed enabled companies achieve best results while keeping a check on their spending.

Reshali Balasubramaniam

Head of HR, HR Counselor and adviser at and EFutureTech Systems. Submit your resume online and be contacted by prospective employers.


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