New technology is moving at a more dizzying pace than ever, and as an entrepreneur, it can tend to be just another thing that gets added onto your never-ending list to look into. With limited budgets making every financial decision more critical, small business need to choose what technology to invest in carefully. There’s not a lot of room for mistakes, and choosing the wrong tech for the job can be a mistake with potentially dire consequences.
But how do you separate the buzzwords from the business case? What will your customers want from your service in five years’ time?
While the precise decision about what’s right will be unique to your business, there are some general trends out there that you definitely need to look into. Here’s how to get started with weighing up the benefits and finding the right fit for your business.
Get In The Cloud
If you aren’t already on board with a cloud storage solution, where have you been? Solutions based in the cloud offer the flexibility and security small businesses really need, usually on a monthly subscription basis. Costly IT infrastructure on site is most definitely going extinct. Cloud solutions offer instant software access from anywhere with a Wi-Fi connection and great security measures, plus a greatly enhanced customer experience. It encompasses everything from email marketing solutions like GetResponse to service that help you create pay stub. If you want to nail business efficiency, this is the first stop.
Get On Board With A.I
While there are many lurid headlines about the rise of the robots, Artificial Intelligence technology is actually helping small business owners to create a higher level of customer services. Businesses have started using it really effectively in the form of chat bots, which can answer basic queries and channel enquiries more effectively, cutting down response times and introducing more efficiency to the process. AI can also apply clever predictions when supplied with big data from a CRM system. Big companies are already using technology to predict preferences and move customers further down the sales funnel – but the great thing about this technology is that it’s a great leveller, just as accessible to small companies. Systems are self-improving, constantly integrating new information to develop an ever-clearer picture of what customers want.
Automate Your Processes
Ever felt the sensation of drowning in admin? Let tech take the strain by investigating which business processes are ripe for automation. Anything repetitive, data-led or mundane is generally a great candidate, and will reserve your time for more abstract and creative work. Remove all the routine, transactional communication from your day, and you suddenly free up huge amounts of time. Flexibility is even more paramount in a small business, and with the smart application of technology you can get further ahead of the competition. Seek to win incremental improvements with the technologies you introduce and you’ll avoid costly mistakes and save time and money in the process.
