A report conducted by AT&T and the Small Business & Entrepreneurship (SBE) Council, a nonprofit group that promotes entrepreneurship and small business, reports that small business owners have netted $67.5 billion a year from incorporating smart phones and tablets in their daily business management.
Mobile technology is saving businesses tons of money, as well as time. According to the report, smart phones are saving business owners $32.3 billion dollars annually. As well as appoximately 1.24 billion hours of their valuable time. Other mobile devices including tablets are also proving extremely beneficial.
The report also revealed that small business owners aren’t working any less, instead they are simply making better use of their time by implementing mobile technology and applying mobile skills in their business dealings. They have deployed mobile and smart phone use into their every day business affairs and are enjoying more productivity as well as increased revenues as a result.
A few perks of using mobile technology:
Increased employee productivity.
According to the report, small business owners and employees are using their smart phones seven days a week – even in companies that are only open five days a week.
The use of smart phones is huge.
Small businesses are using smart phones for just about everything, and the numbers are climbing. In 2013, the number of small businesses using smart phones was 85%. This year it is 94%.
Lots and lots of apps are being used.
The report revealed that three out of four small businesses (around 77%) are using mobile apps, sometimes three or four at a time. GPS, navigation and map apps were the most popular.
Companies are also using apps for ease of access and planning.
Many small businesses are using apps for every day functions like planning trips, GPS navigation, remote document access, banking and finance, and more.
Mobile apps save tons of time.
Owners have reported an increase in use and device dependency over the past couple of years, with 31% of businesses reporting that they’ve saved time by using apps instead of notebooks.
Operating remotely grows business.
75% of small businesses reported saying that their use of mobile devices has saved them anywhere from $500 a month to $6,000 per year.
Data consumption growing with increased use.
The report also found that about a third of market companies have seen their use of mobile data double over the years, due to downloading and uploading files on devices. Customers can access important files on the go rather than having to download them to a computer.
Smart phones aren’t the only thing proving helpful.
Tablets and other devices that use apps are also saving businesses money. Tablets saved small businesses 754.2 million hours and $19.6 billion a year, and apps themselves have saved businesses 599.5 million hours and $15.6 billion a year.
Mobile Banking is the new thing.
According to data from RateWatch, 34% of small businesses reported using mobile banking at least once a week, with 18% opting out of mobile banking. Several of the businesses reported that they would like to use mobile banking for all their financial needs, including payments, mortgages, loans, credit cards and more.
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