• Carla Lopez

The 3 Best Software and Tech Investments Small Business Owners Can Make

The 3 Best Software and Tech Investments Small Business Owners Can Make

Business technology comes at a high price, but certain tech and software purchases will pay for themselves over time — especially those such as payroll services, computer security, and digital marketing. To learn all about these three tech investments and how they can help your small business to grow and reduce spending over time, check out the following article from Global Computer Systems.

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1. Payroll Services

Small business owners commonly make mistakes when processing employee payroll, and these errors often result in hours of lost time and hundreds or thousands of dollars wasted each year. According to Jonathan Amponsah of Elite Business, several common payroll mistakes made among UK business owners include poor recordkeeping, incorrect tax code usage, and paying employees too much or too little.

Fortunately, these payroll mistakes are oftentimes avoidable with the right accounting software. A full-service payroll platform can help you to pay employees in a correct and timely manner, file taxes without penalty, and better organize your payroll records. Other features include payroll reporting and scheduling, same-day direct deposits, and automatic tax calculations and filing. For a nominal monthly fee, you’ll prevent costly mistakes and stay on top of your payroll, saving you time and money in the long run.

2. Computer Security

Like payroll services, computer security is a worthy investment that benefits small businesses for many years to come. According to a survey on computer security in the UK, 54 percent of small businesses were victimized by cybercrime within the previous 12 months — which resulted in losses of between £500 and £5,000 (or $706 and $7,068 in US dollars). However, investing in the right internet security software will reduce your risk of online threats, secure your data, and protect your company’s reputation from cyberattacks.

When choosing an antivirus software for your business devices, it’s important to keep cost, speed, and computer compatibility in mind while also looking for options that include malware and spyware scanning. Plenty of great options are available from software companies like McAfee, Bitdefender, and Norton, but the right option for you will depend on your specific needs.

In the event of being hacked by malware that affects your clients or customers, you may benefit by operating as an LLC. Although your business may be jeopardized, if someone sues your business because of a data breach, for example, an LLC will limit your personal liability and protect your personal assets. The same is true for business debts. Forming an LLC can be complex and pricey, especially when an attorney is involved, but using an online formation service like Zenbusiness simplifies the process. Such a service also removes the hassle of you filing paperwork like annual reports, ensuring it’s done properly, which also alleviates the risk of costly mistakes.

3. Digital Marketing

Digital marketing is another costly investment, but it’s one you won’t want to skimp on when building and growing a small business. To name a few benefits, digital marketing expands your business reach, converts and retains customers, measures the effectiveness of your marketing campaigns, and builds consumer trust.

While some digital marketing campaigns can be implemented for free or on a budget, experts recommend spending 7 to 10 percent of your revenue on marketing and advertising. However, several additional factors should also come into play when setting your marketing budget, including the size and stage of your business, target customer, and products and services you offer.

Invest Now to Reap Long-Term Benefits

To prevent costly accounting errors, protect your business from expensive and embarrassing cyberattacks, and reach your target audience in a lot less time — full-service payroll systems, computer security software, and digital marketing services are some of the best tech investments you can make as a small business owner. You’ll increase revenue for your small business, reduce unnecessary expenses, and run your business much more efficiently, making these tech and software investments totally worthwhile.

Global Computer Systems can provide your business with IT security, cloud services, help desk support, and managed services. To learn more about how we can help your business grow, give us a call today at (631) 476-6500.

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