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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