Small and medium enterprises (SMEs) can use technology to leverage limited resources in smarter, more efficient ways. Technology can also result in enhanced efficiency and versatility of various tools that you may already have in place for your business.
Another fantastic thing about technology is that the benefits you reap will typically outweigh the challenges you may face in the initial stages of implementing the technology. That said, here are five technologies that you should consider implementing in your small business to gain a competitive edge in today’s dynamic digital economy.
Building and maintaining a well-equipped IT department can be a costly affair. Moreover, the on-site software and bulky hardware are rapidly becoming obsolete. Small businesses are quickly moving toward cloud computing. In fact, statics show that over 70 percent of small businesses and entrepreneurs have embraced cloud solutions in a bid to enhance business efficiency.
Cloud service significantly reduces the initial costs of setting up a business, offer massive room for growth, and deliver a pleasant customer experience. With cloud computing, you can access information from anywhere, at any time, and from various devices. Likewise, you can get things done from anywhere including outside the usual office environment.
With marketing automation applications, small businesses can undertake marketing activities more efficiently. This eliminates the need to employ dedicated marketing professionals. Some of the benefits of marketing automation include:
- The ease of generating and qualifying leads
- Ability to segment messages and set up processes that activate specific responses based on the customer’s actions.
Moreover, marketing automation applications can link seamlessly with customer relationship management (CRM) platforms, integrating sales and marketing so you can have a 360-degree view of your customer or prospect.
Business Intelligence (BI)
A few years ago, BI was reserved for larger corporations. With the revolution of software-as-a-service (SaaS), however, SMEs can now afford to enjoy the seemingly endless benefits of business intelligence.
With BI, you can easily track, store, process, and analyze data that can help you make smarter business decisions in regard to cost-cutting, enhancing business performance, and finding new growth opportunities.
This is perhaps the most critical technology that SMEs need to consider as cyber-attacks are often a real issue for them. While about 40 percent of cyber-attacks around the world specifically target small businesses, only about 70 percent of SMEs have invested in data security solutions.
You should realize that with the enactment of the UK’s General Data Protection Regulation (GDPR), you risk being fined if you don’t have sufficient data security measures in place. You should engage a reputable IT company London service provider to help you get your business data security in order.
Technology plays an integral role in the success of any business, including SMEs, in today’s dynamic digital economy. While the kind of technology to implement depends mainly on specific business needs, technologies such as cloud computing, automation, business intelligence, and data security would be valuable to any small business.
If you are interested in even more technology-related articles and information from us here at Bit Rebels then we have a lot to choose from.