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Business Money Saving Tips for Digital SMEs

When you run a digital enterprise, it can be hard to know how to save money and where to cut costs. Business money-saving tips are vital as they can help you save capital for re-investment into your business when it needs it most.

Saving money for your business can also help you through tough times when trading is at a deficit or if you have emergency expenditures that you need to take care of.

In this article, we will go over some of the best money-saving tips any digital business can employ to help them save for whatever they want – expansion or as a safety net.

Buy Refurbished Parts

Nothing is more frustrating than when a part of a workstation or server decides to go the way of the ghost. Buying new parts is an expense nobody needs, especially during the working week and trading periods.

For example, the failure of one vital component in a server could cripple your internal networking capabilities and make everything much harder than it needs to be. Even something like a switch breaking can knock on your operational capability. A cheap, fast option is needed, where refurbished parts come in.

There is an unfair stigma against refurbished parts where people wrongly claim that they aren’t as efficient or reliable when this couldn’t be further from the truth. The performance of refurbished tech versus new tech will differ, but the difference is marginal at best – especially if it has been refurbished professionally by specialists.

The price difference between brand new and refurbished parts makes the investment worthwhile, particularly since we still feel the aftermath of the chip shortage that started in 2021.

That isn’t to mention that most professional refurbishment companies will offer warranties on their refurbished tech that can last up to three years after purchase.

Make The Switch To Cloud Storage Options

If you are a digital business that will keep vast files on hand, storing them for several months or years after they’ve been delivered to the client can be a pain. Keeping backups, especially client deliverables, can be costly when it comes to storage space and capacity.

You’ll need to keep those backups, but at the same time, you don’t want to clog your internal network with terabytes of old client work. This is especially true if you work with video projects and have raw, uncompressed footage.

Cloud storage options are always a good idea, even if it’s to supplement your local storage. Cloud storage not only takes the load of hosting and serving these files to your network off of your network, but it also allows your employees to access the files they need from one central location.

And generally speaking, this can be cheaper in the long run than buying and filling up hard drive disks with information – let alone the costs of running the storage arrays and servers needed to serve it all.

Automate Your Office

Automation is the way forward for many business processes, but for the sake of this article, we’ll talk about automating things like your office lighting system or your workstation shutdown timers.

These two methods ensure that no lights are left on and no power-hogging workstations are left on overnight. Smart technology can allow you to control your lights remotely using your phone and even set timers for when you want your lights to power off for the night (in case everyone forgets).

The same can be accomplished for workstations using gadgets such as smart plugs that can control the flow of electricity to pretty much anything that can be plugged in.

No more wastage!

Add-In Power And Energy Saving Features To Your Office

In a similar fashion to the last tip, you can always implement changes to your office in an effort to save power. Things such as energy-saving light bulbs, energy-efficient fridges for the kitchen, and a more efficient water boiler can all be excellent additions to the office space that’ll save power.

Don’t forget that you can also add features such as double glazing, carpeting flooring, and better wall insulation to your office to keep the heat in during wintertime (assuming you own the office space itself).

To Sum It Up

There are many ways you can save money while running a digital business; it just requires an understanding of where your operation will spend the most to see how much can potentially be saved.

Other things such as reviewing insurance policies and choosing a better water tariff can also save you money – so be sure to keep researching for the best tips and tricks!