2. The latest statistic suggests that 84 percent of all computers have some form of Microsoft Office installed. You probably have it, even though you didn't know it. The latest versions of Office are enabled to connect to your business system's database and allow you to use the tools to create linked spreadsheets, dunning letters, e-mail campaigns, etc. Most current software providers have their data structured to make this integration with Office very easy. Find someone in your organization that is a whiz at Office, and get them to build you some spreadsheets that pull "real-time" information. You'll be surprised how powerful these tools are and how valuable the information is. (You'll never have to build spreadsheets by hand again!)

4. As our world becomes more and more connected, simple functions are being offered as subscription services versus licensed software. A great example is a service that validates and enhances your customer's address information. It costs about $1.50 per day.

Think about how much invalid customer address data costs you—both directly, and through reduced customer service. Your software provider may have the tools necessary to integrate a service like this with your existing system, allowing you to begin reaping the benefits.

According to Industrial Distribution's 59th Annual Survey of Distributor Operations, 41 percent of respondents forecast that they will increase their spending on technology in the next 12 months; while 57 percent will spend the same amount; and only 2 percent will decrease their spending. Sixty-eight percent of those who will invest will put the money into software; 55 percent also will spend on hardware; 34 percent on bar coding; 29 percent on communications; and 14 percent on radio frequency products and solutions. Five percent cite "other" tech-savvy investments.