Small businesses often have limited resources to work with, so it’s difficult for them to stay updated with the latest business trends. However, if there’s one thing that small businesses should focus on, it’s embracing technology.
Business technology has revolutionised the way we live and do work and business. It has changed the way we interact with clients, manage teams, and deal with data. As such, small businesses need to embrace and invest in technology. Even if you think what you have right now is good enough, business technology can improve your current processes and accelerate your business to a new level.
Here are five reasons why your small business needs to get serious about embracing technology:
1. To build a physical and remote working environment
Everyone is going mobile these days. Much more so ever since the pandemic happened. Many small businesses that adapted quickly to the new remote environment were able to survive the great business purge brought about by COVID-19.
Because of technology, it’s been easier to work remotely and access files and applications online. Content is being carried around whenever and wherever we want it. Employees have tablets, laptops, and smartphones, and they can access emails, files and communicate with peers in real-time even if they’re not in the office.
Investment in technology to create a mobile working environment creates a safety buffer for your small business in case something unexpected happens. Moreover, it also increases productivity by 20%. Many small businesses work better in flexible settings.
2. Competitive Edge
Technology can help scale your small business and create a competitive advantage. The earlier you start embracing technology, the better it is for your company. Because of technology’s evolving capabilities, small businesses can compete even with established firms. It can level the playing field.
3. Better engagement with clients
Customers today are getting smarter. They prefer businesses that are tech-savvy and know how to use the right channels to connect with them. Small businesses need to take advantage of social media to personalise their interaction with their customers.
4. Speed and productivity
Embracing technology enhances speed and productivity. It reduces manual and labour-intensive work using automation. It simplifies processes and gets rid of repetitive tasks so that humans can focus on more important work. There are now new apps and the latest tools that can help perform all kinds of complicated tasks in just a few minutes to help your team do things faster. This in turn impacts employee productivity and makes your business more efficient.
If your small business works with confidential information in any way, it’s still your best bet to safely keep all that data. Small businesses have so much more to lose than big establishments in terms of the trust and confidence of their clients. Customers need to know that your network is protected and your cloud is trustworthy so that they will continue transacting with you.
Technology has the potential to turn tables. Simply put, it’s a game-changer. If you invest in business technology, your business will likely push forward in the right direction. Start small and take one step at a time. Invest in technology based on your business’ needs and budget. You don’t need to rush things. Do your research. Investing in the right technology at the right time should be your business’ priority.