In the Know: Technology boosts business value

In the Know is a regular partnership between LP Gas and Propane Resources. This month, Adam Zoellner and Sean McCann reveal why employing application can enhance your propane company’s worth proposition.

Dilemma: How does computer software impression the worth of your small business?

Respond to: When was the final time you modernized an factor of your enterprise? Was it this year, previous 12 months, five a long time in the past, even more time?

Picture: ipuwadol/iStock / Getty Illustrations or photos In addition/Getty Photos

Your competitors is often modernizing and so ought to you. A reluctance to modernize and adapt to at any time-modifying technologies will decay your company from the inside of out. A thriving propane business calls for implementation of fashionable systems to continue being competitive. Negligence to adapt will end result in an antiquated procedure.

Technological adaptation can improve all elements of your company’s functions, which includes routing, consumer administration and weather-primarily based functions. Small business owners will see incredible price in software programs that are on the current market today. The price of these new procedure upgrades will spill around into other elements of your small business.

From the smallest operation with a handful of workers to businesses with many dozen, every single corporation has a routing strategy that “works” for them. One huge difference is the quantity of time and work spent calculating and organizing every day routing. Corporations with improved software systems are spending a fraction of the time to coordinate operations. Time is dollars, and individuals who manually establish routes are burning through it. Routing software makes it possible for a corporation to plot dozens of drops for numerous motorists in a issue of seconds, cutting down the amount of money of batch work on office environment workers.

Adopting new, upgraded program

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Tips for Investing in Small-Cap Stocks

In this podcast, Bill Mann, director of small-cap research at The Motley Fool, joins Motley Fool producer Ricky Mulvey to discuss:

  • How to think about allocation for smaller companies.
  • Key small-cap metrics to watch.
  • Boring businesses that warrant more attention.
  • A closer look at a real estate brokerage, a coffee supplier, and a Bitcoin holding firm that masquerades as a software company.

To catch full episodes of all The Motley Fool’s free podcasts, check out our podcast center. To get started investing, check out our quick-start guide to investing in stocks. A full transcript follows the video.

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This video was recorded on Jan. 14, 2023.

Bill Mann: I think that what you really want to do is focus on companies that seem to be doing want-tos, as opposed to has-tos. You will see companies out there that are smaller companies that are going out and they are investing, they’re investing in new factories, they’re investing in new initiatives. They are actually showing you that they have some financial strength.

Chris Hill: I’m Chris Hill and that’s Motley Fool Senior Analyst Bill Mann. He’s also the head of Small Cap Research here at The Motley Fool. Ricky Mulvey caught up with Bill to talk about how to

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