There are three reasons why small business owners hang onto old and out of date technology: the cost of replacing it, the confusion surrounding choosing new technology and the comfort of using old and familiar technology. In reality, investing in new technology is not only a smart use of money but also a smart investment of time. Small business owners are faced with daily hurdles to ensure business profitability, so why not implement small changes in technology to make life a little bit easier? For some small businesses, the thought of updating old and outdated technology is daunting because we all understand it can be complicated and take a considerable amount of time. We know we should embrace the new age of advanced technology but the challenges or perceived challenges often outweigh the incentive to embrace it. Get your head in the Cloud Let’s take cloud technology for example. In reality the cloud is a wonderful advancement in technology and provides great opportunity for small business owners. The cloud allows users to access files from any computer, anywhere on the planet, with nothing more than a basic internet connection. The data stored is completely safe and secure and the issues surrounding backing up data is now a thing of the past. Of course it will cost money to implement cloud technology, the initial set up stage will take time and at first it could be difficult to navigate, however time and money must be invested in the initial phases in order to take full advantage of the benefits and rewards that the cloud offers. Get functional with printing Another great example of technology advancements for Australian small business owners is the development of the MFP, or the “Multi Function Printer” – a device that is becoming really common in most small businesses. The multifaceted device combines the everyday printer, a facsimile and a scanner, meaning not only are you saving on office space and the cost of purchasing three separate devices, but also a significant cost saving on energy bills. Get bill monitoring We now also have the opportunity to use technology to monitor day-to-day business expenses. We can track gas and electricity usage online, which means better management of utility bills, and use internet banking to manage business finances. One thing I am certain of is that business owners who are completely across their expenses are the ones that lead the most profitable and successful companies. It is also important to regularly check utility providers online resources, as there’s a good chance that the services they provide have changed, grown and been refined in some way. I often hear people say things like, “I checked out the site a year ago and there was nothing I could use” but a year is a very long time to wait in today’s ever-changing technology landscape. Get informed… and act! The bottom line is that technology is here to assist small businesses to work faster, cheaper and easier. After all, if it doesn’t tick those three boxes why would we bother investing in it? The longer we put off buying new equipment, new software and new devices, the more time and money we end up wasting. Any small business that is not utilising advancements in technology wherever possible is simply throwing away money. We live in a hugely competitive business world where small businesses need every competitive advantage they can get. Those businesses that embrace technology and invest the time and money to incorporate smarter, faster and more efficient technology into their businesses are the ones that end up at the front of the pack. Want to discover more about AGL’s End of Financial Year offers for business? Find out more at www.agl.com.au/eofybusiness AUTHOR BIO: This post is the work and opinion of Andrew Griffiths, Small Business and Entrepreneurial Author, and does not necessarily reflect the views of AGL.