It can be difficult to keep up with the constantly evolving technology marketed at your business. However, in recent years, there have been changes that could significantly improve your business’s productivity, cut costs, and increase profitability. Here are 10 innovations in technology that could yield big results.
Internet-based communication systems, like Facetime, Skype, or a full VoIP system, can significantly cut operation costs. These systems do not require much investment in hardware and can also use phone applications to sync to your office phone systems. Newer systems even have features such as advanced call screening, forwarding rules, integration with business software, and virtual receptionists.
Want to keep tabs on who has access to what in your system or ensure you’re dealing with trustworthy clients? Modern software can do that for you. For example, Duedil gives metrics showing how debt-free various companies are. Meanwhile, BehavioSec can analyze your employees’ mouse movements and typing patterns to alert you if someone else is logging in.
Virtual Workplace Software
Office space is expensive and working with long-distance employees can be too. Fortunately, with today’s technology, it is easier than ever to work with them using software such as Zoom or Slack for video conferencing. Software such as Trello or Basecamp also allow you to keep track of campaigns. Regardless of where your team is around the globe, you can still work well together with the right technology.
Customer Relationship and Inventory Management
Managing your client relationships and your inventory using professional software can reduce mistakes across your business. Try using Insightly, Salesforce, or Zoho for CRM.
Social Media Management
Social media is a valuable tool that can really attract attention to your business. Yet, managing Facebook, Twitter, Instagram, and LinkedIn can take up valuable time. Social media management systems such as Hootsuite enables you to manage all of them at once, saving your business valuable time and allowing for more flexibility with scheduling.
New payment, FX and Cash-flow Management Systems
Whether you are transacting across borders, trying to mitigate FX exposure, or managing payroll, modern technology has a new solution to help. WU EDGE is Western Union’s free technology platform which allows businesses to make free real-time payments, mitigate cash flow and FX Currency Risk, along with helping them to find and connect with international trading partners.
Services such as Zipcar and AirBnB have revolutionized the way we consume, but can it impact business as well? Outsourcing platforms such as Fiverr or the peer-to-peer rental of equipment can cut businesses’ costs and make them nimbler in the sharing economy.
Instead of storing all your data on physical servers, you can store it all on the ‘cloud’. This allows businesses to do much more with less along with making collaboration seamless when working remotely, with available access anywhere at any time.
Some small businesses may not want to keep a large inventory in stock, but keeping up with developments in 3D printing could bear dividends. 3D printing technology could change your business strategy from providing highly personalized services to printing spare parts.
Big data might seem like just a buzzword, yet even small business can significantly benefit from it. Services like InsightSquared, ClearStory Data, or Google Analytics allow you to make sense of your internet traffic and consumer decisions which can allow you to predict trends and demand in the future.