Five Innovative Ways That Technology Can Transform Your Small Business

Businesses of all sizes are increasingly reliant on technology, but for small businesses the wrong choice can be make or break. Late in February, Forbes reported that various password managers had failed security checks, with users potentially liable to costly data breaches. For a small business, it’s absolutely crucial to zero in on what technology can help you, and how you can keep it up to date.

Enabling mobile working

Remote working is going to become a huge factor in the average business, and there’s no reason a small business can’t also offer it. Due to portable computer technology like laptops, smartphones, and tablets, it’s easier than ever to offer remote working. The benefits are tangible, too – research analysis by Tech.co found that 14% more people love their jobs when they get to work remotely. However, it’s important to help your workers stay safe – utilize strong security software, and potentially a VPN, to keep customer data secure.

Tracking productivity

Remote working is great, but it can promote lack of productivity. The pull of being at home all day can be too great for some colleagues. Technology can help here through sophisticated technology apps. When built-in to work equipment, or on staff devices, it can provide real-time measurable updates on technology, and provide in-depth analytics for assessing poor performance. Be wary, however, of data security regulations, and ensure that any information you use has been given the proper access rights.

Improving business projects

Research by the Project Manager’s Institute noted that one of the key reasons for project failure was a lack of organization. That isn’t to say things aren’t written down, but more that businesses do not store and differentiate their data properly. Technology provides a multitude of ingenious tools that can give a guiding hand to the project management process, and make sure that all stakeholders are aware of every step in the process. This is crucial for when you grow your business.

Marketing and customer service

The internet has created new ways of communicating that any business simply cannot overlook. According to Pew Research, 68% of Americans use Facebook, with millions of others on Twitter, Instagram and the like. Social media platforms provide invaluable marketing devices to businesses. This marketing is often free, too, in contrast to local paper classifieds or advertising. Constantly re-assess your social media and follow local trends to keep your reach up to scratch.

Financial and payment security

Payment fraud remains a significant problem in the USA – according to money management gurus, Due, the US has the third highest rate of payment fraud globally. Online technology helps to prevent this. Your website can insist on two-step verification, and in the future, utilize blockchain to provide absolute data assurance. Fintech and fraud are areas of technology that develop at a startling rate, so ensure that you keep on top of developments as they arise.

Technology is omnipresent, and there is little reason why you shouldn’t deploy it with your business. Aspects of management that you won’t have thought of can be improved measurably through new technology. Adapting and consistently updating will help you to have a prosperous venture.

About the author

Kylee Bennett

A couple of years ago, I took a step back to spend more time with my family, and became a freelance writer and editor.

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