Take a moment to let this sink in: Computers today cost one 1100th of what they cost 35 years ago. And the prices are still dropping! The same goes for software, which is often completely free, thanks to the freemium business model.

Why should you care? Well, one of the most important financial tips to remember in running a company is that there are ways to do everything better, cheaper, and more efficiently. Now that technology has proliferated the way it has, no business system or process should be off-limits.

If you want to engage with a group of investors or a prospective client’s board, for example, you can now use GoToWebinar and Skype — no need to fly halfway around the world and rent out a huge conference room.

Today’s software is miles ahead of the prohibitively expensive, walled-off software suites of last generation’s corporate America. It’s faster, more robust, and cloud-based for easy access on a range of devices.

Here’s just one category of business software that can completely revolutionize how you do business. When you decide to embark on a new project, how do you track its progress and communicate with the rest of the team? Project management software like Teamwork, Trello, or Basecamp can save you incredible amounts of time in a number of ways:

● Automatic time tracking so you get a better sense of where people are spending their time.
● Anyone on the team can easily check the progress of a several-step task or project.
● Less confusion about deadlines, who’s involved in a project, and more.
● Access to a centralized place for new employees to get up to speed on projects that are already underway.
● Everything’s accessible on the cloud, which means team members can stay involved, even if they’re working remotely.

For the paid versions of project management software, you generally pay either a flat monthly fee or a smaller “per user” fee. Compared to older methods of tracking and managing projects, the shared solution of project management software is a no-brainer — even if you have to spend a little to get it!

Ultimately, you should think beyond financials when you’re looking at how to make your business stronger. With so many new business solutions on the horizon, the future looks bright for any business willing to embrace innovation!