When modern technology came into being, including the first computers that occupied an entire room and phones that were Jurassic in size, the business world had mixed reactions. Nowadays, however, modern technology cannot be denied nor can its potential be ignored. As a small business owner, harnessing the power of technology can be the edge you need against competitors and the catalyst that sparks accelerated growth in exchange for minimal resources. Yet as more and more technology is being introduced to the market, it becomes harder to familiarize yourself with technologies that are poised to help your business succeed rather than consume more of its resources.
Go Mobile
According to an article published by the Internet website, mobile commerce is set to grow to a $114 billion market by 2017. Nowadays, mobile phones and tablets are customers’ go-to channel when finding something they like and possibly even making a purchase. Unfortunately, this huge market shift and mobile platform demand remains inadequately addressed. Hundreds if not thousands of small businesses are still unable to establish a mobile presence, one of the factors being that 93 percent of business websites are incompatible with mobile devices.
Capitalize on CRM Software
Customer relationship management software tackles the procedures, techniques, and technologies that a business entity implements to monitor and analyse interactions with customers. The goal of using CRM is to prolong the life cycle per customer and to ensure the best customer experience possible. With a robust CRM software, small businesses can keep track of their growing customer base and stay in touch. This shows your customers that you actually value them, which ultimately leads to more sales and referrals.
Office Equipment
You hear “office equipment” but nobody really says Eureka or has that proverbial “light bulb switching on” moment. Office equipment is outdated and doesn’t really have that sexy appeal to it that befits the highly advanced world we live in. However, thanks to such times, modern office equipment have become more cost-effective, space-efficient, and investment-worthy. Neat examples of smart office equipment include the Belkin Instant Switch, which enables you to monitor electricity usage and remotely control devices from anywhere in the office. Kwikset Deadbolt, Plant Link, and Door Bot are also equally nifty tools to have in the office.
Cloud Computing
Quite simply, the benefits of cloud computing technology is operational efficiency and agile deployment of services. Of course, there is much greater complexity when it comes to how the Cloud actually makes these happen. Thanks to Cloud computing, new business models and initiatives can also be implemented at a faster rate. Utilizing or incorporating these services can lead to new business models that open up revenue channels and value propositions.
Accounting Software
Every business, big or small, needs to pay their dues to Uncle Sam. Come tax time, small businesses can find themselves in a legal bind due to unorganized paperwork and documents. Accounting software can automate your tax filing as well as cover other fundamental aspects of keeping your business compliant to regulations. These programs also allow mobility of financial accounts, giving authorized users access to account statements and reports from anywhere and anytime they need it. You can also send an invoice using your smartphone or tablet and view other pertinent accounting data, such as billing and payroll.
To be successful, small businesses ought to keep an open mind and use technologies that have the potential to unlock new revenue channels, more efficient marketing techniques, and economic drivers of business growth. Not only are these favourable, but nowadays, they are a requirement if you wish to keep up with competition and the various market shifts occurring.
GuestPost
Ziya Khan
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