Modern technology continues to lead the human frontier, with renewable energy sources paving the way to a more protected environmental future and advanced spacecrafts poised to travel to distant planets as some of the many advancements underway. While monumental in scale, small business owners should look no further than the commercial marketplace and how it is shifting at a rapid pace to view how technology is shaping civilization. Here are five technological breakthroughs in the small business department that every entrepreneur should invest in.
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Customer Relationship Management Software
Call it CRM for short, this tool is as robust as it is a handful to pronounce. A well-executed CRM program can supplant manual systems that create inefficiencies and unnecessary financial losses for the company. This efficiency is achieved through a twofold process – one is by minimizing the use of inefficient operations and the other is by seamlessly integrating to existing IT infrastructure to automate tasks. CRM also makes it capable for employees to manage multiple departments including the entire customer life cycle more effectively.
Irrespective of your business’ needs and characteristics, accounting software is the ideal compromise between having to do your accounting manually via spreadsheets and hiring an accounting firm to do it for you, in which case you shell out a significant amount of money. Accounting software enables you to access business accounts from anywhere and during any time since the program is supported by the Cloud. Aside from mobility, it’s also a very easy way to stay compliant with tax regulations, which for a business can mean thousands of dollars in penalties if not met.
Intelligent Paper and Pen
Well not exactly a paper or pen, but smart office equipment, such as wireless printers, are changing the way small businesses operate every day. The upfront investments on these office equipment can quickly pay for itself over time. But because of their high-quality construction and design, these equipment also outlive their traditional cheaper counterparts. Other examples of smart equipment include wireless deadbolts for locking your office’s doors and garage, plant watering systems that notify you when you’ve forgotten to water them or have overwatered them.
Technology used for cellular phones have rapidly evolved over the past few years. Nowadays, 3G and 4G networks are the standard for mobile connection. Two-way pagers have gone obsolete to make way for more capable and more advanced mobile phones, GPS devices, and instant messaging clients. For a small business, this can translate into faster and more secure relay of crucial information, which enables the workforce to make more informed decisions and move forward at a greater pace. Giving your employees access to these mobile tools ensures they can connect with co-workers and higher ups during crucial business hours and projects.
Rapid deployment of services is one of the key benefits of using the Cloud for your business. Thanks to the Cloud, deployment time has been reduced from weeks or months to a matter of minutes thus allowing you to scale your business much quicker than what was traditionally possible. With Cloud, you also have lower IT cost since you bundle up the costs of hardware and software system upgrades. Business continuity in the event of a security breach or natural catastrophe that wipes out physical copies of your data is also ensured. Data is stored and accessed securely through a remote database with enterprise-grade equipment and stringent security protocols.
Modern technology is increasingly becoming the bedrock of small businesses today. Without it, a business cannot compete effectively with other brands. Not only is using these technologies beneficial but a necessary move to survive the cutthroat competition.