The Latest Tech Innovations for Small Businesses

The Latest Tech Innovations for Small Businesses

on May 12, 2020 in Small business

Small businesses can benefit from new innovations in technology in a number of ways. Recent developments in communication can enable you to run your business remotely. If you’re understaffed, make technology work for you with automated services. With advanced analytical software, it’s never been easier to manage large volumes of data so efficiently. These are just a few examples of how new tech products can potentially contribute to your small business. Here some new innovations trending this year.

Alternative Payments

Account-account transactions are becoming more common. Tide is an example of a new app that enables users to make sales directly from a business account. Their main purpose being a time-saving device, business accounts will also save companies money by cutting out the middle man. Of course, as with any new payment service, there are predictable security risks such as identity theft.

 

Data Analytics

The sheer volume of “big data” is a lot to handle for small businesses. Analytics software helps you to record and make connections between millions of data at a time. This tool can be used in several departments. Marketing can benefit greatly from the use of analytical software. Localized statistics and figures are calculated from your sales, revenue, and market predictions.  It allows you to fully understand your clients and all their preferences as well. It also tracks location and demographics. This can make forecasts for you and help protect the future of your company. See here for analytical tools explained. 

 

Edge Computing

The “edge” refers to the edge of your network where data is collated, rather than in a centralized data-processing warehouse. This means that large amounts of data are processed near the source where it’s generated. This reduces time and cost with high internet bandwidth usage and allows applications to respond in record time, even remotely. Read more about how edge computing has entered the mainstream

 

Virtual Conferencing

Virtual conferencing platforms such as Zoom and Microsoft Teams enable 24/7 remote communication. With the introduction of 5g, you can make the most of increased speed and high-quality video streaming. It’s possibly the future of connectivity in business as this is where many companies are headed.  Virtual conferencing has become the norm, with only technological issues such as a poor connection getting in the way. It also gives businesses the opportunity to save on overheads as employees can all work remotely. 

 

IT Automation

Small business owners are using automation to help with tasks on a larger scale. Email automation, for example, is a great marketing tool. Email sequencing allows you to contact your entire client base automatically. You can set it to stagger or vary times and contacts. Automation is also helpful in services related to accounting, data management, and customer service. 

 

Automation is developing more and more to help your business run more smoothly. You can manage your staff, take care of meetings, events, and even arrange business catering services all from an automated system. Let technology work for you for a change. 

 

 

Image credit:  Pixabay.com

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