INCREASING PROFITS WITH TECHNOLOGICAL TOOLS IS THE KEY TO SUCCESS

1. IMPROVED COMMUNICATION

Remember when there were no cell phones?  Maybe not, but do you remember when there was no Slack, Blink, Flock, Teams, Glip?  You get the idea.  Maybe you’ve run your business the “old-fashioned way,” running from office to office with news or yelling from office to office to communicate with your staff.  

Most companies today rely on some type of software for communicating.  The ability to communicate with your staff and with your clients is the cornerstone to success in any business.  

Clear communication between staff members keeps your office running smoothly, improves productivity, lowers costs, and increases profitability.  Clear communication about task assignments and completion avoids unnecessarily duplicative work, searching for answers, and wasting time recreating the work wheel.  

Communication platforms come in a wide variety of options.  There are systems designed simply for messaging.  Almost like texting, but at your desktop.  There are, however, many more robust options that incorporate other features, like Track with Ease, available through Habitat Abstract’s Clear and Close Program.  Track with Ease allows communication between multiple parties to transactions, task assignments, document storage, and timeline features. 

2. INCREASED EFFICIENCY

Artificial Intelligence (AI), worldwide workforce, automation, are all synonymous with increased business efficiency.  Many platforms, like those mentioned for their improved communication capabilities, also increase efficiency in offices by recording data, automating task assignment and client communication, storing contacts, and extracting information, making it easier for small businesses to reduce the need to search for files, wait for information, spend time duplicating work and hunting down lost files.   

Less time on mundane and maddening tasks improves efficiency when everyone on staff is working on more productive tasks.

Habitat Abstract provides users with a personalized yet tech-forward user experience by combing communication capabilities with data storage, task assignments, automated updates, and up-to-the-minute client communications, offering small and solo real estate practitioners the best of all worlds in technology, specifically designed for real estate transactions.

3.  DATA SECURITY

Increased reliance on technological solutions, even simply for document creation and storage, like dropbox, google drive, and other similar options open businesses up for data breaches.  “40% of small businesses experienced eight or more hours of downtime due to a cyber breach. This downtime accounts for an average of $1.56 million in losses. Cyber attacks are projected to cause $6 trillion in damages by 2021.  Data security is no longer an option when the risk is so high and getting higher. ” Using products with documented data security credentials is paramount when considering what tools to use. 

4. INCREASED EMPLOYEE ENGAGEMENT AND RETENTION

Technological advancements in the workplace have provided businesses with the option to provide more flexibility to their employees.  The ability to share files seamlessly, no matter where the workplace is, allows people to work from home, care for their families and prevent the spread of illness.  The ability to perform tasks remotely became vital as covid restrictions made working in traditional office environments impossible.  And the ability to work remotely doesn’t just benefit employees. 

Remote workers typically have more time and fewer distractions, which leads to increased productivity—a huge benefit of working from home for both employees and employers alike. When done right, remote work allows employees and companies to focus on what really matters—performance.

5. UNLIMITED ACCESS TO RESOURCES

With technology, there is no limit as to what you can achieve and accomplish. Technologically advanced platforms provide an endless supply of knowledge and valuable insights. “Click of a button” research, training materials, course work, and networking make information that changes the way you do business accessible 24/7. Having valuable insights puts you in a better position to deal with your customers. You are well prepared to meet their demands. Apart from that, technology helps you keep a close eye on your competitors. Stay aware of their moves and take necessary preemptive measures to adopt the latest market trends.

6. ACCESS TO NEW MARKETS

With the implementation of the latest technological equipment, businesses can explore tons of new markets to expand their operations and profitability. The ability to customize the client experience based upon multiple locations and the capability to reach out to potential leads outside of your businesses’ geographical area can increase your bottom line like never before. The ability to expand geographically opens businesses up to never before considered profitability.

7. GROWTH OPPORTUNITIES AND BUSINESS EXPANSION

Through automation and artificial intelligence, technology has become the most crucial factor behind the success of every organization. Although investing in new platforms and programs can be costly, the value it provides ultimately outweighs the high cost. Moreover, the use of the latest technology gives the company a competitive edge, which makes it a better organization than the rest of the competitors in the market. This improves the overall reputation of the brand and enhances its perception among the consumers, which is vital for expansion.

8.  INCREASED CAPACITY

Technology enables businesses to reach more customers in less time than usual. This means they will be able to serve more customers than before. In addition to this, companies can easily coordinate with the suppliers when they need supplies to restore their inventory. The capacity to communicate and store information increases with technology, which is a huge advantage for large corporations.

Today, successful business owners are using technological advances and platforms to help them reduce staffing costs and increase their capacity to handle more clients. The ability to assign certain tasks to employees or to automated platforms frees business owners to pay attention to developing their businesses and working with new and potential clients.

9. MORE SATISFIED CLIENTS 

The ability to clearly, frequently, and timely communicate with clients helps you meet client expectations and allay client fears and concerns. Clear communication and exceeded client expectations make for happy clients. Happy clients make more referrals. More referrals mean more business and increased profitablity.

10. BETTER WORK/LIFE BALANCE 

For busy business owners, hours at the office are nothing new. Advances in technological offerings have changed the way we do business. Today, most business owners can work from home allowing them to spend more time with their families, attending to their well-being, and improving their lives. Working remotely and encouraging your staff to do the same can reduce overhead costs, improve productivity and employee satisfaction.

Whichever technological advances you choose to implement in your business, technology offers small businesses the opportunity to change their business models for the better. Shorter or no commutes, more time with family, increased profitability and productivity, and greater capacity to handle more clients are just some of the benefits of finding the right technology partners for your business.

Habitat Abstract’s Clear and Close Program offers small and solo practitioners the ability to streamline the closing process and reduce the workload on their staff, leaving time for attention to more clients and more transactions. Find out more about how Habitat Abstract can help you grow your business.