used with permission from HP Small Business Center
For small- and medium-sized companies, the difference between a successful year and a dismal one often comes down to how well they can stick to the b-word: BUDGET.
Luckily, the recipe for budgeting success is simple: spend less, while making more. But there’s a virulent SMB myth that — especially in a weak economy — the only way to save money is to forgo buying the new computers, servers, and printers that your employees need. Not true.
Below are some simple reasons why investing in technology can actually save you money over the long term.
1. Understand the total cost of ownership (TCO)
Many SMB owners suffer from sticker shock when contemplating the upfront costs of buying new equipment. Unfortunately, they don’t see how much higher the overall price tag is for holding onto old, outdated machines when you factor in maintenance, resale value, and energy consumption.
And, don’t think that buying cheaper equipment is necessarily better for your wallet. While consumer PCs and printers may take a smaller initial bite out of your budget, they don’t offer the same robustness or security standards that make business equipment worth every extra penny.
2. Meet in digital space
The Business Travel Association estimates that the global business community spends nearly $1 trillion on travel annually — that’s “trillion” with a “t”. Chances are your company is adding at least a small percentage, even though today’s technology makes travel almost unnecessary. Rather than spend valuable money on flights, hotels, and per diems, you can easily host meetings in digital space using free or affordable technology.
One popular option is HP Virtual Rooms, which allows up to 10 people to meet in digital space — perfect for meetings, customer briefings, and offsite team collaboration. Plus, you can take advantage of a free 60-day trial and try it out for yourself.
3. New vs. nearly new
While investing in new technology can mean a big difference in maintenance and energy costs, it doesn’t mean you have to pay the inflated price of driving it straight off the lot. The constant overturn of new technology forces many companies to sell off their slightly used equipment at steep discounts. That means there are great deals to be found in refurbished equipment — much of which comes with warranties or return policies.
Or take advantage of HP’s Business Refresh, which offers discounts of up to 25% off the price of high-quality, refurbished business PCs and notebooks.
4. Go green, save green
“Going green” may seem like a new-age buzzword that has little ROI or true business value, but that’s not the whole truth. Some green initiatives not only reduce your impact on the environment, but can also positively impact your budget.
Save trees and printing costs by moving paper forms online, which will also allow you to share documents and information easily between coworkers. Or invest in ENERGY STAR® qualified equipment, such as the HP Color LaserJet Enterprise CP4520 Printer, that use HP Instant-on technology to cut your energy bill and put less of a strain on the power grid.
5. Take advertising into your own hands
One of the major benefits of the digital revolution is the democratization of information publishing. No longer do you have to spend millions of dollars for traditional advertising. With a little creativity, you can use simple technologies such as a corporate blog and YouTube to create word-of-mouth marketing and open up room in your budget.
Don’t think you have time to self-advertise? Of course you do. Just use your Smartphone or tablet to update Twitter or Facebook feeds on the fly.
Or put that wisely purchased new equipment to work and create professional quality brochures and marketing materials using energy-efficient printers like the HP LaserJet Pro CP1025. You don’t have to be a graphic designer to make high-impact materials — check out the HP Creative Studio for Business for design ideas and tips.
6. Get creative with HP financing
Despite even the most proactive budget planning, sometimes needs arise that make you reassess your technology expenses. Luckily, there are options. Lease the new business HP ProLiant MicroServerto spread your cost over the lifetime of the product or take advantage of business-friendly financing to make the initial price tag a little more manageable.
Even the most budget-conscious SMB owner knows that new technology is essential to provide the best service to your clients and give your employees the tools they need to keep up with the speed of business.
To learn more, contact us today.