The adage “You have to spend money to make money” is often true in business. Yet, you must think carefully about where to spend that money. Should it be on new equipment? More employees? Research and development? Or finding vendors to carry out non-core activities so your staff can focus on what really matters?
The answer will be different for each company, and for each stage of development, from startup to sustained success. If you choose to hire vendors, you may feel pain spending that money now. But their contributions can save you money and help you generate more revenue into the future.
Some key services you might want to consider are software development and software QA companies, a cybersecurity expert, managed IT services, social media firms, and a staffing agency. Let’s look at how each one can benefit your business.
Software Development
If your company provides specialized services, needs tailored features, or has outgrown off-the-shelf solutions, custom software development may be a smart option to pursue. Professional software developers can create applications that perfectly suit your company’s needs, processes, and goals.
Custom software development can be time-consuming and expensive but consider the potential ROI. With greater efficiency, your employees can get more done, meaning you may be able to cut back on staffing (likely one of your highest expenses). With more streamlined software, you can better assist customers, increasing the likelihood that they’ll return, buy more, and recommend you to others.
Software QA
Software development services usually come with software quality assurance (QA), but not always. Before hiring a software developer, be sure to ask about this critical step. QA, otherwise known as quality testing, is not necessarily limited to new software. It can also be performed on applications you already have to ensure the highest level of efficiency and security. In this way, you can get some of the same efficiency, cost savings, and revenue potential as you would from custom software.
Cybersecurity
Depending on the severity, cyberattacks can cause anything from minor computer glitches to major breaches of confidential data. When it comes the time to clean up the mess, your company could end up spending time and money that you can’t afford to lose. Not to mention the loss of business due to a damaged reputation.
While no system is completely immune to cyberattacks, cybersecurity implementation can go a long way toward protecting your company from these major headaches. This service is another one that can cost you money up front or on an ongoing basis, but the price of not taking cybersecurity seriously could be much greater.
Managed IT
As your business grows, its IT requirements change and sometimes this change can happen quickly. You need to be ready to ramp up or down your operations depending on shifting conditions, such as a big new project. If you’re stuck with limited hardware, software, and expertise that can’t rapidly be modified, you could lose opportunities.
With managed IT, you get access to the vendor’s resources and can change what you’re using easily at any time. Additionally, you get the advantage of professionals who are constantly being trained on the latest security procedures, giving you an added layer of protection that can also save you money.
Social Media Marketing
Sure, any of your employees can get on Facebook or Twitter and create posts about your company. But not everyone knows how to do so in a proactive, targeted way designed to bring in more customers. That’s the skill you’re paying for if you hire a social media marketing agency to help. These experts not only understand how to connect and convert with social selling. They also know how to repurpose content across a variety of channels and track and adjust campaigns for maximum success.
These services may seem like just another unnecessary expense, but they can actually serve to expand your reach, strengthen your reputation, bring in more revenue, and attract new business. Additionally, social media marketing done well can give you instantaneous feedback about your products and services, telling you what customers want more (or less) of in real time.
Staffing Agency
Hiring new employees is much more expensive than keeping those you already have. That’s why it can pay to have an expert take over this function for you. A staffing agency will go beyond posting a job on the job boards to seek out qualified individuals. An agency also takes many steps of the hiring process off your plate, leaving you time to focus on core business tasks.
In Summary
It’s easy to put aside some types of business services as “too expensive.” Yet, when you look at some of them over the long term, they can actually save you money.
Software development and software QA services can help your company increase efficiency and better serve customers. Cybersecurity efforts can greatly reduce the potential for costly cyberattacks. Managed IT assistance can convert CaPex to more manageable and predictable OpEx expenses. Marketing agencies can create effective, targeted campaigns that drive revenue. And staffing help can find employees that will stick around, reducing hiring costs overall.
