While the economy has had its share of ups and downs over the past several years, it appears business owners are ready to set any lingering hesitations aside and focus on the positive aspects of operations. In light of the positive economic indicators, entrepreneurs are more likely to have strong sales objectives, aim for growth in the coming months and invest in new technology like check scanners to speed current processes.
Small-business owners excited about the future
American small business optimism jumped in April, according to data from the National Federation of Independent Business. The monthly index rose from 89.5 in March to 92.1 in April. While this indicates a positive month-over-month trend, the increasing optimism has also been a long-term trend, as can be seen by a nine-month survey conducted by Dell and Intel.
The study finding revealed almost half of business owners in the United States are expecting growth in the coming months, and the majority expect their financial and sales situations to improve over the next year. While 48 percent plan to grow their firms in the near future, 56 percent think their company's finances will improve and 75 percent expect better sales opportunities.
Small-business owners are also concerned about technological advancements and keeping up with the latest tools to ensure processes continue to run smoothly. The data showed 41 percent of respondents think their technology needs are "increasingly complex," indicating they may look for one tool that completes multiple tasks and is simple to understand and use.
Coping with an increase in sales by employing new technology
With business professionals looking to grow sales and expand their firms, they'll likely see an increase in transactions completed in the coming months. Adding new customers, as well as encouraging current clients to buy more, will require these firms to have the right cash and check handling processes in place.
Coping with an increased amount of cash room activity may call for updated technological equipment, if business owners want to process all checks and cash in a timely fashion, ensure deposits are taken care of quickly and spend more time assisting customers on the sales floor. Employing remote deposit capture technology can help these firms enhance processes, as well as free up resources that could be applied to continued company growth.
June 10, 2013