Technology is changing the landscape of small businesses at a rapid rate. With the dawn of the information age and analytics, tech is at a position to push you to the limit.
Almost every week, there is new technology that can disrupt and improve your business. Technology is ready to give your business strong growth potential.
Innovative tech can change the way you run your business, but which ones do it best?
In this guide, we give you 5 technological innovations that change how we run businesses.
1. Management Systems
Management systems are not a new technology. For the longest time, many human resources and management obsessed over micromanagement. Controlling workflow meant stronger productivity and more efficient production over cost.
Today’s many small businesses thrive in the use of management systems. This technology is growing dividends for the future of small businesses.
Now, every project management software has different ways to simplify workflow. It allows managers to:
- Assign individual and team tasks
- Check on works in progress
- update tasks as needed
All these happen to ensure business runs like clockwork. We’re expecting this technology to grow further.
Task management software now connects different online apps for better workflow. They allow connecting hardware and software to make sure tasks run without fail. Combining these with the Internet of Things, small businesses can set more tasks without overwhelming themselves.
More innovative technology is growing in the field of business management systems. Artificial intelligence can help update pending tasks and manage them by themselves.
Among many innovative technologies, among the most useful are chatbots. Many businesses are using chatbots to funnel customer service tickets. This allows customers to do a level of self-service without wasting manpower on FAQs.
The primary use of chatbots benefits small businesses on both cost and efficiency. There are more uses for it, however, in sales and qualifying leads for your business.
To get qualified leads, the best use of your chatbots is to position them on your home page. Positioning your chatbots to capture interested customers and help them navigate around your products. Customers tend to interact with the bots and ask common questions of interest.
During this time, many customers will provide their information. This captured information includes personal data and reasons why they want to communicate.
This is priceless. This level of interaction allows you to nurture campaigns. It helps in capturing leads better.
With the use of chat widgets, you can funnel customers to a sale after satisfying their questions. Provide recommendations related to their needs and discuss the details of their search. This allows your sales team to process more leads faster by focusing their efforts.
Chatbots will grow better and more human-like with AI. A good example is Google Duplex using AI to make appointments. This level of intelligence can work for a chatbot, giving more complicated potential answers.
3. 3D Printing
One of the problems of small business manufacturing is mass production. Creating prototypes and proof of concept years ago needed expensive equipment.
The advent of 3D Printing technology allows small businesses to make products cheaper. This gives them a better, lower scale option to create viable business products.
Businesses who use 3D printing technology do so because of different reasons. Some use it to create prototypes that need expensive manufacturing equipment. Some use it to develop their products as it is, sell in smaller quantities until they grow big enough.
3D printers are still the innovative technology of our time. Their value to small businesses is undeniable. It provides the power to manufacture anything they can design.
Many printers can create generate plastics and inks with mass production quality. With 3D printing’s technology, all you need are the right plans and the materials as a source.
In the future, this innovation can extend your business. By developing with 3D printers once material costs go down, you get more creative outputs.
Everything from repair tools to small souvenirs is printable with this innovative tech. With costs going down as the years go by, expect better, stronger, more complex 3D prints.
4. Cloud Solutions
If we’re talking about Cloud solutions, it sounds like a boring technology. Sure it’s innovative technology, but it’s boring. Even then, small businesses rely on the Cloud to handle their needs.
Cloud affords small businesses the power of an entire data center without wasting upfront investments. With a cloud server, you can do more with your business. This includes:
- handling your online business activities
- working with your customer service team
- using enterprise-level services
- creating a remote network
With the growth of technology like Cloud, you’re making your small business more accessible. You’re protecting your digital assets and company information better. You’re making your business process more efficient, and at the same time, more productive.
5. Big Data-Driven Decision Making
The small business marketplace is moving beyond speculative decisionmaking. Instead, it’s moving fast towards data-driven decisions with the use of big data. Through the use of demographic data, you get to decide based on what people want.
Companies both big and small are starting to use data as their innovative tech of choice. Unlike years ago, data-driven decisions are more efficient, reliable, and inexpensive to procure. Having the right digital infrastructure will give you a better edge on delivering what people want.
What comes with data-backed decisions is better efficiency and smart business savvy. If your business can make better business decisions with the right flow of information, that’s you growing.
Find Innovative Tech That Fits Your Business
Innovative tech is the pillar of business edge. With the right use of technology, people change the way they run their businesses for the better. With management systems, chatbots, 3D printing, Cloud, and big data, you can flesh out the potential for your business.
Looking for more business intelligence guides? Check our other tips and tricks for the business savvy individuals out there. We have different guides on tech for business and how you can hack your business growth.
Take a look today and boost your business to new heights.