Do You Know Your Business ROI?  Business ROI, or return on investment, is a tool used to measure the profitability of your business based on your various costs and the profits generated by these investments. The performance of the business ROI can also have an assortment of implications on the different aspects of your business.   A positive ROI indicates that an investment has delivered welcome profits. But it's more than just a metric used to monitor the feasibility of your business investments. By maintaining a solid ROI, you are also creating positive effects on your total cost of ownership, R…

When starting a business, it is only natural for the business owner to dream of success and growth for their new venture. But having a dream is not enough. There also needs to be a strategic business plan to ensure that the business will thrive. Unfortunately, many small business owners have the mindset that planning is only for large companies. Some of them don't think that learning business planning skills is necessary. They don't realize that planning for growth is one of the most important things you should do for your business. Here are five tips to help you build…

Business budgeting is a very important part of running a business, regardless of whether you are a startup or an established company operating for years. Creating a budget is not a problem for most business owners. The challenge is sticking to the budget as the business grows and the spending expands. The Problem of Hidden Costs If you are like many owners of small and medium-sized businesses, you probably focus on the services and products you need when making a projection of your business expenses, which is what you should do. However, do you also consider the hidden costs of…

Doing business in this digital era comes with many advantages, thanks to the developments brought about by new technology. But this same technology also brings a new breed of threats that could have negative implications, from minor inconveniences to serious security risks. First Line of Defense You can install an antivirus program and take safety precautions to protect your business. This precaution is for anyone who wants to stay protected from viruses and other digital threats. However, the online environment is rife with potential threats that easily penetrate basic anti-malware programs. Just think about it. How many email advertisements have…

The cloud network for businesses is a new development. While widely used today, before it came into existence, many businesses had to make do with the limited in-house resources that were available. If you have not yet signed up for a cloud network for businesses, you are probably experiencing these limitations that can hold your business back. Using a Cloud Network to Help Your Business Business growth and success are the primary goals of any business owner. If you want your business to grow, you will usually have to hire more people, invest in more advanced IT infrastructure, buy more…

Mobile phones have evolved tremendously in recent years and now have many powerful features never seen in previous phone systems. Many businesses rely on mobile phones as vital tools in business operations, and some have ditched their phone lines completely in favor of mobile devices. But is this the best decision? Have business phone systems become irrelevant or even obsolete? The Importance of Business Phone Systems The value of modern communication systems is incontestable. But this doesn't mean that traditional business phone systems are no longer needed. Let's look at some of their main uses for modern businesses. Integration of…

People today are well-versed with technology compared to a decade or so ago. But are you sure that the technical skills of your employees are enough to maintain an efficient and productive business structure for your company? Do you think you can stay ahead of your competitors in the industry using only amateur IT abilities? Many of us consider hiring an IT provider more of a luxury than a necessity. We believe the technical know-how of our in-house staff is more than sufficient to ensure the smooth operations of our business. Unfortunately, the arguments against hiring MSPs might create an…

Vendor management involves many activities related to the suppliers you use to run your business. Everything from selecting vendors to negotiating contracts, to reducing risk and delivering services will impact your business. Any business that works with suppliers of products or services needs to have good vendor management practices. This job is essential to ensure seamless business operations and to maintain an amicable partnership with the suppliers. Depending on the type of business you’re in, you might work with vendors from diverse industries and of different sizes. These include IT consultants, security personnel, financial advisers, cleaners, and a lot more.…

Do you have time to keep up with the latest technology? Your business potential is limited by the kind of IT infrastructure you use, and the technology hardware programs that you have installed. No matter how big your company is, it will be hard to grow if you are still using the same tools that you used a decade ago. Businesses Can Gain by Staying on Top of Technology It’s a given that multinational corporations need sophisticated technology hardware and programs to maintain their massive global operations. For small and medium business enterprises today, it’s not much different. Even if…