Saving money as a small business can mean the difference between growth and closure. Many small businesses are closing during recessions and global pandemics. In 2023 the war continues with Ukraine and Russia, impacting on the supply chain routes of many small business operations. The global cost of living crisis means that every small business needs to manage budgets and save money to focus on survival. There is a desire for every small business to diversify their work, to ensure that they are making money from as many different channels as possible.

Efficient Communication and Telephony Cost Reduction

There are many factors why a small business must focus on cost saving, but the main one is simple. If costs are too high, the profits do not cover the costs, and the small business becomes loss making. If a small business is loss making, they will not be able to continue operating, and will close.

Every small business requires communication between stakeholders, customers, colleagues, and prospects. Communication is the lifeblood of every small business so cost cutting, and making savings in that area should be a high focus.

With economic uncertainty in home countries and in the countries that businesses use for outsourced support, cost is a vital component to business development and growth.

Here are 10 ways small businesses can save money on their communications and telephony with a focus on mobile technology and modern technology promoting flexible working and growth opportunities.

1. Use VoIP Services: Switch to Voice over Internet Protocol (VoIP) services like Skype for Business, Zoom, or Google Voice for cost-effective calling. VoIP is cheaper than alternative forms of communication, including mobile and landline telecoms.  There are regularly reliability problems with VoIP technology, which means that your small business should look at mobile telephony through conXhub for improved communication and crystal-clear calls. VoIP communication relies on the internet and having a stable connection. This also mean that a lot of people working for your small business must remain by their desk or within range of the Wi-Fi router. This is not a flexible option and can be quite limiting for a small business.
2. Bundling communications and getting the services from the same provider means one invoice and one payment for your small business. Having more services from the same provider helps to reduce costs and keeps invoices and contracts in an organized process. Cloud collaboration services for your small business saves money and improves communication.

 

3. Unified Communications give your customers more options to contact your small business. With every small business looking to cut costs there are free platforms for communication through social media, and integrating SMS, email, and telephony means that your customers can speak to you when they want to and through which channel they prefer.

 

4. If your small business uses mobile phones, then you can download an app onto your mobile device rather than purchasing new phones and expensive headsets. Headsets can be an added expense and can limit the flexibility for your staff to call your customers for your small business. If you add the conXhub app to your staff mobile phone, there are no additional costs required, since they are BYOD – bringing their Own Device. This limits the need for technical support, and reduces the need for wires, offices, desktop phones, headsets, and many more cost increasing expenses.

 

5. Adding 2 Factor Authentication, also known as 2FA, to people’s devices means that your small business will save more money and will be more secure. With Mobile Device Management (MDM) devices will be secure and monitored, so you still know who is logging into your small business communication channel and when your team are working for your small business. You are protecting your staff putting your VIPSafety first for your most valued asset, your employees.

 

6. Virtual Phone Solutions like conXhub provide professional phone services without the need for devices, and physical landlines and hardware. Simply downloading an app and adding numbers to that app provides a full call center solution to the mobile device in the palm of your hand. Your small business can have overseas calling, or can buy a number in a different country, making your small business look like it has international operations.

 

7. Your small business might have multiple mobile phone contracts, or other direct debits that you are unaware of. Collating all costs into one contract, or into more cost-effective plans means that you are simplifying and saving money. Double success by ensuring that all mobile plans are through the same provider and billed at the same time each month. This will give your small business more control and awareness of costs, especially your mobile plans and mobile services.  Working with conXhub your small business will only be billed for minutes used, and if they are less than the data package that you have, your calls could be free.

 

8. Your small business could invest in business SMS communication. SMS communication for small business is often free or paid for in a contract. SMS communication increases in-bound volume, therefore reducing effort and costs. SMS communication for small business is cheaper, more focused, more cost effective and can save money for your small business. Ensuring that your SMS messages are monitored and replied to, reduces cost, and increases productivity.

 

9. Mobile Expense Tracking uses tracking apps to monitor mobile expenses and helps to identify cost saving opportunities. If your small business optimizes the mobile phone solution you can ensure that your small business is optimizing the call contract, therefore not wasting money, or spending more than necessary. Mobile tracking can also improve log-in details and hourly monitor of staff, therefore reducing the need for other technology.

 

10. Telecommuting reduces costs. Remote work or working from anywhere to support your small business reduces the costs associated with office work. With staff in the office there are bills for utilities, as well as expensive costs associated with furniture and resources. The more mobile you and your small business can be, the fewer costs and the lower the costs. Building a website and allowing people to work from home by connecting to the CRM solution and the mobile phone solutions reduces costs and gives more flexibility to your small business and your staff.

 

11. Identifying all hidden costs, and regularly auditing direct debits will keep your focus on the costs and small expenses. Your small business will cut costs and save money.

 

12. Negotiating with vendors could reduce costs and get your small business out of long-term contracts that are not cost effective and tie you in to commitments that are not beneficial for your small business.

 

13. Outsource what you can outsource and focus on your core small business model. Working with offshore providers reduces costs, staffing, and resources. If your small business is mobile, and diverse, and working with offshore providers, you are saving money.

 

Remember that the specific needs of your small business may vary, so it’s essential to assess your communication requirements regularly and adjust your strategies accordingly to optimize cost savings.