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					Technology and Franchising

The proper use of technology can revolutionize the way you do business.
With the right mix of technological tools and systems, your franchise can
rise to the top of your business field and keep you there. This move will
also save you a lot of time and increase your efficiency as well as
profits. After all, opportunity cost is incurred when you spend more time
than you have to at doing tedious and routine administrative duties. By
using the available technology in your franchise business, you can save a
lot of time which can then be used for more productive endeavors.

In the franchising industry particularly, the right use of technology can
drastically improve the support systems in place. This would get rid of
repetitive and redundant tasks that the franchisees have had to put up
with. With an impregnable and highly efficient support system in place, a
franchise could quickly get ahead of the pack.

So, how do you go about implementing technology inspired changes in your
own franchise business? First of all, research available technology that
you may find useful in your franchise business. You do not have to buy a
fax just because everyone has it. Use email instead. Better yet, make use
of the revolutionary voip tools already in the market today. You have to
remain informed on the better and newer ways of keeping the communication
lines between you and your franchisees open.

One other very important change that you can implement in your business
is introducing software that automates and integrates all tasks that
could directly be accomplished by computers. It would be better if your
franchise incorporates the use of software that integrates accounting
functions with inventory and sales tracking. It would be even better if
your business software also assimilate payroll and personnel tracking
applications. And to make everything automated, make sure that your
system does not require tedious and manual updating. To illustrate, the
cash registers can automatically update your database, thereby getting
rid of the need to manually transfer information from paper to computers.
Reducing the number of people in your information chain has the added
benefit of reducing human error.

Finally, include continuous technology training in your franchise
packages. Your technological improvements will be in vain if your
franchisees do not know how to properly use them. Impress on your
franchisees the importance of technology in a successful franchise.

				
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posted:2/13/2010
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Description: Technology emerges