Improving small-business confidence with dual-purpose cash and check scanners
Recent reports about small-business confidence with the U.S. economy highlight the need for technology like dual-purpose cash and check scanners. Not only for their financial impact, but in furthering that most central of American values of being a self-starter and the importance of hard work. Yet as vital as these companies are, they aren't completely unshakable, which is why technology plays a critical role in helping these enterprises perform.
In September 2016, the National Federation of Independent Business released a report that small-business owners were experiencing sharp declines in their economic confidence, as the Wall Street Journal reported. While this drop does worry some economists, it does open up an important discussion.
The saving grace of cash and check scanners
Low confidence in the economy isn't just an overreaction by many small-business owners. The same month as the NFIB report, Gallup indicated that the Economic Confidence Index was at a negative 10, demonstrating that the country is still contending with issues from the Great Recession. Small-business owners are still finding ways to generate cash, build up reserves and maintain momentum in the coming months.
This creates an opportunity to explore new options to streamline their overall business and better save time and money. There are several ways this can be accomplished, including:
- Setting goals every day so you know what to focus on and avoid spreading yourself too thin.
- Bundling services you use for a business (phone, internet, cable, etc.).
- Time tracking to the most of any given work day.
- Leasing some equipment to be more cost effective.
But one easy and effective method that many business owners forget to utilize is to leverage dual-purpose cash and check scanners. These machines are an efficient means of processing payments and tracking finances. They're easy to use, and just a few minutes of extra time can be valuable to a busy owner. They also keep photographic deposit records, and these are equally invaluable to owners with jam-packed schedules. Plus, these machines even detect counterfeit bills and checks, and avoiding those issues is essential for efficient businesses.