Time is Money: 6 Efficient Ways to Cut Down on the Time Spent on Your Business

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    In business, time is money. Every minute spent on less profitable or unprofitable tasks leads to wasted time. Let’s look at six ways to speed up your business so that you spend more time on what matters and less time worrying about lost productivity.

    Account automation

    An excellent way to reduce time spent on accounts payable is automation. Financial software programs (https://www.bill.com/product/accounts-payable) have a feature that will allow you to enter information about customers. You can track amounts owed and then document statements reflecting those amounts. 

    A smarter AP automation solution lets you adjust the balances as new information

    Mail tracking software

    A common complaint from small businesses is spending too much time sorting daily mail. You can reduce wasted time by using mail tracking software that categorizes your incoming mail before it hits your desk. 

    For example, you can automatically create contacts in your email program and instruct the email server to sort emails into different folders based on contact information. You don’t have to worry about missing anything because the software will alert you when a message appears within your rules.

    Account automation A smarter AP automation solution lets you adjust the balances as new information.

    Automated file backups

    All businesses are vulnerable to data loss and cyber security concerns. Hard drives crash, and mistakes happen that can cost you precious data or information. You can save time wasted on restoration processes by automatically backing up your files.

    Software updates automation

    Software programs usually need to be updated periodically. If you don’t have the latest software, your business is likely wasting time and money. 

    For example, outdated accounting software can lead to inaccurate financial statements and extra work. You can save time by scheduling updates for the times when you are least busy.

    Hiring a virtual assistant

    A virtual assistant is a person who remotely helps you with your business activities. Typical tasks include managing calendar, phone calls, booking travel, writing articles, and editing and proofreading documents.

    Virtual assistants save you time by doing tasks that would take more of your own time to complete. For example, a virtual assistant can call on your behalf if you have a busy schedule that prevents you from reaching many customers to check their satisfaction with your service. 

    Autoresponder scheduling

    If you send emails regularly, you can save time by setting up an autoresponder that sends emails at designated times. An autoresponder is a program that sends pre-written email messages on a set schedule. For example, you can schedule an email to go out to customers once or twice a week.

    Successful businesses use an autoresponder to schedule “thank you” emails after someone purchases their products. You can also use an autoresponder to automatically send information to clients who request more information about your service or product. The program saves the time spent sending manual emails.

    Wrapping up

    Properly managed time means more profit and less worry. Using these tips, you can run your business more efficiently and spend more time on essential business departments.

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