Did you know that annually, the average employee’s printing habits could cost your company roughly $725? Shocking statistics like this are reasons why small-scale entrepreneurs and giant corporations are always looking for ingenious ways to minimize cost and maximize profit.

Saving your business some bucks does not always have to be an aggressive slashing of expenditure everywhere. You would be surprised at how little tweaks in modus operandi and spending habits go a long way in helping businesses trim away unnecessary expenses. Here are four such tips that are sure to save your business money if applied judiciously.

• Telecommuting

For businesses intent on keeping up with trends and saving money in the long run, going virtual is simply a necessity. Telecommuting means employees work from home, which lessens and sometimes eliminates the need for an actual office workspace. What this implies is that businesses can reduce their energy costs significantly.

Rent, utility bills, and maintenance receive their fair share of the cost reduction benefits as well. This arrangement also allows for greater flexibility amongst employees as it is convenient and less stressful, which can significantly boost morale and improve productivity.

• Bulk buying

The principle of bulk buying to reduce overall cost is common knowledge that should manifest in your business. Whatever your business needs (ranging from equipment to stationery) should always be bought in bulk and at wholesale prices. It is also prudent to go in for second-hand goods.

Brand new equipment and furniture are pretty luxurious and can be done without; using equally functional and efficient substitutes can equally serve its purpose. Businesses should also pay attention to parcels transport services that offer the best price for delivering shipped goods when ordering office supplies.

• Go paperless

Paper is one of the most common associations we make when we hear the word "office" or "business." Indeed, most companies thrive on paper, and this demand can eat up a big part of your business's budget. Choose digital documentation instead, eliminating the cost of writing altogether.

An added benefit of going paperless is employees’ ability to pass information around with greater ease. Storage is also simpler and less challenging to navigate when necessary. It is easier to retrieve digital files containing essential data from various devices than to rummage through stacks of paper looking for a particular file.

• Digital marketing

Making the choice for smart digital marketing strategies over traditional print and television adverts can be tricky at first. With time, however, the benefits begin to show. Aim for your business to have a robust online presence, especially on social media.

Although tried and tested for decades, print and television adverts quite simply do not reach online marketing potential. Consider engaging experts to boost your Search Engine Optimization (SEO) that will drive traffic to your website, increase your sales, and help your business flourish.

Social media marketing on platforms such as Facebook and Instagram is also relatively cheaper and more accessible than traditional advertising methods. Your business should look to exploit this present reality to help save some cash.