Top 6 Most Important Advances in Small Business Technology

The business working landscape has changed considerably in the last ten years and is set to change even more as technological advances show no signs of slowing.

Small business can look forward to tech that’s changing the way they operate - often for the better. Much of the new tech advances save time and money, enabling small businesses to achieve things faster and compete with their larger rivals as costs become less of a barrier.

Top 6 Most Important Advances in Small Business Technology

For example, much time and effort can be saved through automating previously time-heavy tasks such as business accounting and paperwork generation for businesses of all sizes, and small concerns can reach markets worldwide through inexpensive online marketing methods.

So what’s going to change things even more for smaller businesses?

1. Cloud Computing

Not exactly new but it will enable small businesses to make the most of technologies such as Big Data where huge amounts of information are stored and manipulated.

Before cloud computing, companies had to invest in expensive physical storage - something that would make using Big Data prohibitively expensive for smaller companies. The cloud means a small business can store and use massive amounts of data relatively cheaply.

The cloud, as with other techs, levels the playing field for small businesses who can now compete in many ways with much larger organizations.

2. Artificial Intelligence (AI)

Going hand in hand with Big Data, artificial intelligence helps computers analyze data without human interaction.

This is very exciting for small businesses as the huge task of analyzing the copious amounts of information generated by Big Data and general data gathering sources will be achievable without having to expand staff and premises to cope.

It also means small businesses can avail themselves of sophisticated, highly targeted marketing methods previously only open to larger players.

3. Virtual Reality (VR) and Augmented Reality (AR)

Seen as the preserve of games players such as Pokemon Go devotees, virtual and augmented reality could be a huge asset to small businesses, both in terms of how they conduct their business and market themselves.

For general working, AR and VR will transform communications; even seemingly modern tech such as video conferencing will be improved by VR conferencing.

Marketing even a sophisticated one-off product to a worldwide market will be possible through being able to immerse the potential customer in the ‘product experience’ wherever they are thanks to AR and VR.

Eye-catching and memorable marketing campaigns will be within the reach of many businesses of all sizes using this growing tech similar to how Pepsi caused a stir in London, the UK with their 3D bus shelter.

4. Internet of Things (IoT)

IoT makes devices and machines ‘smart’ in that they can talk to each other through being interconnected through WiFi, mobile data and the use of sensors.

Homes can communicate with their owner via appliances - like the fridge informing them they’ve run out of milk - and images from security systems can be viewed miles away on a smartphone.

For small businesses, IoT tech will help efficiency through reducing journey times thanks to transport infrastructure being run more efficiently, stock levels being more accurately monitored, and reduced energy costs through smart heating and lighting.

5. Voice Technology

Voice command tech - being able to speak to a machine and have it answer questions and carry out an instruction or transaction - is set to move on to the point where touching a keyboard or using the phone will be phased out of many routine and mundane activities.

The huge time saving and reduction in costs will have an extremely positive impact on small businesses.

6. Bots

Talking to ‘automated people’ - such as when using some live chat facilities - is enabling companies to interact more effectively with their customers and site visitors, and as the automated facilities - using chatbots - become more sophisticated the potential benefits increase.

Selling face-to-face is a big cost to business, so steps to automate part of the process, such as when screening initial enquirers to qualify leads, is a huge time and money saver. It means ‘real’ salespeople can focus on strong leads while ‘information gatherers’ are dealt with by bots.

Small Business In Name Only?

Modern and future tech as discussed above brings ‘big business’ capability into the hands of the smaller concern, and it’s not taking long either. Even relatively newer tech such as sophisticated chatbot facilities can be utilized by smaller outfits even now.

Top 6 Most Important Advances in Small Business Technology Top 6 Most Important Advances in Small Business Technology Reviewed by TechGlobeX on 1/12/2019 Rating: 5

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