Is Cost a bottleneck to opt Technology?

Technology and the related costs are two things that can unexpectedly defeat any budget boundaries. These two terms are directly dependent on each other; if you compromise on cost, you will have to suffer somewhere while making a choice for the technology. Whether your business is small or big, these tips can help you slash costs, accumulate capital, and let you focus on what’s really vital for your business.

1. Use of Open Source and Free Software: A very simple tip to reduce cost is by using open source and free software. Freeware and low-cost software are termed as pleasant surprise in terms of robustness and functionality. There are many free software alternatives for commercial software like OpenOffice and Google Docs for MS-Office (office suit), Grisoft and AntiVir for Nortan and McAfee (Anti-viruses), MySql and Ingres for MS-Access and SQL (database software), Krita and GIMP for Adobe and Photoshop (Graphics and Image Editor), Mozilla Firefox and Opera for Internet Explorer (Web Browser) etc. The list has numerous entries in this list.

2. On-line meetings: Meetings can be held on-line by using the concept of videoconferencing. The requirements for videoconferencing are videoconferencing software, a webcam, a PC and Internet connection. The set-up can substitute money not only on travel costs, but also on long-distance as well. Even the money can be saved with the use of free video conferencing software, such as Skype and WebEx. GoToMeeting is another solution that offers VoIP, supports meetings with up to 15 attendees, and lets you give presentations, collaborate, or provide training from your desktop. Second Life allows you to create an avatar for free and meet video presentations and hold virtual meetings or training sessions.

3. Telecommunication: This is another significant method to reduce cost. It is actually a work arrangement in which employees enjoy flexibility in working location and hours. In other words, the daily commute to a central place of work is replaced by telecommunication links. Wikis are the best option to meet the requirement and make it simple to post text or documents so that a group can make comments or changes. Some wikis are free and public, while others are more enterprise-focused with advanced features. For example Pbwiki offers three flavors: Business, Academic, and Personal. VPN (virtual private network), services like LogMeIn promises easy setup using peer-to-peer technology to access shared files.

4. Use of Virtualization Software: Virtualization software offers many cost-saving benefits, such as consolidating servers and reducing backup and recovery time. Virtualization is a broad term that refers to the abstraction of computer resources. VMware is an industry standard workstation used for running multiple operating systems on a single computer. Microsoft’s free Virtual Server and Virtual PC allow you to use virtualization. Another example is Parallels is one of the better-known Mac-friendly solutions that run on Windows and Linux based operating system.

5. Outsourcing: Outsourcing is the concept of involving a third party in a business to accomplish a specific job and this is a significant method to reduce cost substantially. Many businesses lack a full-time IT professional. Outsourcing involves the transfer of the management and of an entire business function to an external service provider and under the agreement the supplier acquires the means of production in the form of a transfer of people, assets and other resources from the client. There are many outsourcing companies in India like IBM, InfoSys, Wipro, HCL, TCS etc.

The freewares listed above are great help while making a slection for technology. They offer the platform what paid software do.