When it comes to company finance, limiting your expenses is going to be just as important as ensuring a solid revenue stream, especially for small businesses with big expansion plans.
Fortunately, research from the Australian Communications and Media Authority (ACMA) has revealed just how much businesses are saving, thanks to widespread adoption of mobile technologies.
In the organisation's most recent study of mobile technology and its benefits, it was found that 25 per cent of companies reported saving time on everyday processes.
This adds up to more than $26.5 billion in saved time from mobile devices in 2013 alone, out of total savings from mobile that reached roughly $34 billion.
The main reasons that companies are using mobile technology was, unsurprisingly, for phone calls. Emails came in the second spot, while general internet use and customer engagement are also popular among the country's mobile businesspeople.
The main reason that employers gave for incorporating increased mobile technology was to maximise downtime that employees would otherwise waste. In fact, 73 per cent of respondents pointed to this a leading reason for companies to pursue mobile technology.
While companies recorded significant savings in time last year, the amount of business data being handled over mobile networks is set to continue growing over coming years. By 2017, business data is expected to reach 20 petabytes every month, only slightly less than the total network use in 2013.
Although many Australian businesses are clearly saving money through mobile technology, it is still important to find the right funding processes. Debtor finance is one option, as this allows companies to realise a steady revenue stream, without having to chase up invoices themselves.
By combining new revenue options with cost-cutting mobile solutions, Australian businesses will be well-poised to grow in the future.
If you'd like to learn how Earlypay's Invoice Finance & Equipment Finance can help you boost your working capital to fund growth or keep on top of day-to-day operations of your business, contact Earlypay's helpful team today on 1300 760 205, visit our sign-up form or contact [email protected].