How Technology can Help You Grow Your Business

Growth is one of the key objectives for most businesses, and without a doubt, one of the most effective methods of achieving growth is through the use of technology. Here we take a look at three great technology innovations that could really help take your business to the next level.

The Cloud

Most businesses have adopted cloud technology in some form or another. If you are using Dropbox, Google Drive, Office 365 or anything that allows you to logon and work any time any place via an internet connection, then you are already using the cloud.

But what about the wider possibilities? The cloud allows meetings to be held with clients and partners around the world without having to leave the office. Not only can you talk, you can have real time eye-contact, share and collaborate on documents and other types of files and even record a copy of the meeting to pass to absent delegates.

Interviews can be conducted via video conferencing and training can be provided via live streaming cameras, which means you can expand your workforce and your company outside of global perimeters without major investment.

The cloud is a major player in the realms of business growth, so it is well worth talking to your IT providers to ensure you are making full use of its benefits.

Customer Relationship Management

When was the last time you were in touch with any one of your clients? What was the last conversation you had with a prospect? Who is buying what and who could you cross or upsell to? Without this information at its fingertips, a business is never going to grow.

If you are still toiling over a basic spreadsheet or relying on file notes or diary entries to keep up with the current position with your clients and prospects, you are seriously missing out on what modern technology has to offer.

These days, businesses with their finger on the pulse of growth opportunities are all investing in customer relationship management (CRM) software. These are powerful database driven platforms that bring together all the information and data needed to keep a handle on what is happening at any given moment with clients, contacts, partners and prospects.

CRM systems such as SalesForce, Pipedrive, Zoho, Insightly and HubSpot vary in cost and features but all offer the same advantage of making it straightforward to manage your client contact programme. You’ll be able to see at a glance where opportunities lie and make sure that clients are adequately taken care of and prospects nurtured. Most systems will track calls, emails and progress automatically so that admin time is cut down. Some will allow you to assign tasks and attach files, schedule emails and track email opens and clicks.

With a CRM system, the power to grow your business is literally at your fingertips! 

Business Intelligence

How much money do you have in your bank account right now at this very minute? What is going out tomorrow? What is coming in? Who owes what? How much are you spending on IT support, stationery, postage, transport?

If you need to make an important business decision, you will find yourself in a risky position unless you have all the relevant and up to date information to hand. The trouble is, much of the information you need to access will be segregated across different departments and may take the form of reports that are not up to date.

Business intelligence platforms however bring all of this information together into one place, funnelling everything from sales and marketing, accounts and finance and operations and admin into an easy to navigate format that is totally up to date.

If you are not sure where to go next with your business growth plan, why not talk to your local bookkeepers? They will be able to steer you towards the innovations and contacts who could really help you excel.

Shared Parental Leave Campaign Follows Poor Take Up

The Government has launched a campaign to promote shared parental leave after statistics have revealed that very few couples are making use of the programme.

Figures published by the Department for Business, Energy and Industrial Strategy show that of the 285,000 couples eligible, only 2 per cent have actually used shared parental leave since it was introduced in 2015.

The campaign is being backed by a £1.5 million investment with the objective of encouraging couples to ‘Share the joy’ of parenting. Backed by social media and digital advertising together with advertisements along commuter routes, it will hinge on providing information and guidance on how the scheme works. A new shared parental leave website has also been launched.

Shared parental leave allows mothers to terminate their maternity leave and pay at a certain date so that their partner can make use of the balance of leave that has not been taken. Up to 50 weeks of leave can be shared, or up to six months’ taken off work together.

Business minister Andrew Griffiths said: “Shared parental leave gives choice to families. Dads and partners don’t have to miss out on their baby’s first step, word or giggle – they can share the childcare, and share the joy.

“Employers can reap the benefits too. We know that flexibility in work is proven to create happier, more loyal and more productive workforces.

“Providing truly flexible employment options is a key part of the Industrial Strategy, the Government’s long-term plan to build a Britain fit for the future by helping businesses create better, higher-paying jobs in every part of the UK.”

A 2017 survey by charity Working Families revealed that 25 per cent of fathers had never heard of shared parental leave. Sarah Jackson, chief executive of the charity, explained that a lot of fathers would be interested in using the scheme, but were either not eligible for it or decided not to use it as they would only be given the minimum statutory rate of £140.98 per week.

“The Government’s drive to raise awareness amongst parents about the scheme is a step in the right direction. Many fathers are excluded from the scheme because they haven’t been in their job for long enough. The Government should make shared parental leave a day one right for fathers in the same way that maternity leave is for mothers and extend the scheme to self-employed parents,” she said.

“Of those fathers who said they wouldn’t use the scheme, more than a third said this was because they couldn’t afford to. Those employers that can afford to should go beyond the minimum pay for share parental leave.

“But if the Government is serious about equality at work and tackling the gender pay gap, it should consider also introducing a properly paid, standalone period of extended paternity leave for fathers.”

If you are unsure as to how shared parental leave works or are interested in making the scheme more attractive to your employees, why not consult with your bookkeepers? They will be able to explain how shared parental leave works, the benefits to your workforce and how it will pan out financially for you.

Working Hours and Salary Main Drivers for Career Change

A poll undertaken by the Oxford Open Learning Trust has revealed that working hours are just as important as salary when it comes to seeking a new job.

The poll of 2,000 adults explored the main motivations that drive people to career change. It found that money was, predictably, the main reason for job moves, accounting for 64 per cent. However, 55 per cent said that working hours were important. This figure indicates that people are now more likely to seek a healthy work-life balance and will therefore look for roles that fit in with their lifestyles.

Enjoyment of a role was also considered important. Whilst the money side of things is always going to be a key consideration for job seekers, 50 per cent are clear that they would be prepared to put their personal interests and enjoyment first.

Job security was cited by 40 per cent of respondents as a key consideration when seeking a new position, and working environment by 37 per cent.

Generally, the poll revealed that 28 per cent of British workers are looking to change jobs within the next ten years, whilst 13 per cent are potentially considering new careers within the next four years. Three in five are prepared to retrain to land the career that fits with their key objectives.

Courses director and founder of the Oxford Open Learning Trust Dr Nick Smith says: “People often see the start of the year as a good opportunity to start afresh and plan for a brighter future. Moving jobs is one way of achieving a lifestyle shift and it’s really interesting to see the main reasons why people are looking to make such changes.

“While money is always going to be an important consideration, it is pleasing to see that the nation is looking after their own interests too, with things like location and enjoyment listed highly.”

If you are recruiting new staff, it is wise to take the results of this poll into consideration, bearing in mind the importance placed on various factors by job seekers.