Business Tools
The importance of technology to businesses is something that needs to be considered at any organization, no matter the size. The latest technological trends for enhancing productivity and sales are widely available and can be attained by small enterprises, as well as large corporations.
The prevailing notion associated with small businesses is that mostly all of the back-office operations, procurements and other financial and HR related daily grinds of work are handled manually by business personals and executives, whereas market giants make use of new technologies being incorporated in their offices to make things run faster and more efficiently. An example would be the latest Amazon Echo
(An AI component launched by Amazon.com). Implementing these technological accessories saves a lot of time for the personnel to focus on more productive and creative tasks that would boost up business growth. Hence, it is imperative that small businesses also use these latest technological trends for enhancing their productivity and sales. Below are some tips regarding this:
Artificial Intelligence
Artificial Intelligence (AI) goes hand in hand with Business Intelligence (BI) for boosting up a small business in recent times. In this technology-driven world today, AI saves up plenty of time for business personals to focus on more creative and fruitful work beneficial for their businesses. AI apps efficiently do certain repetitive works such as entering data on behalf of a sales person or filter out job applications for a recruitment HR and many more of such tedious works which are unproductive and time-taking, if done manually.Use of AI on Business Intelligence and Analysis is also a common success mantra for organizations to come up with innovative solutions for the growth of their businesses. Most of these AI apps are essentially developed to perform a narrow range of work, or, in other words, are specialized; so these are proficient, precise and can do many complex tasks such as scheduling business meetings, answering some common customer queries, etc.
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Cyber Security Upgrades
This is one of the most important aspects for a small business owner to take care of. Cyber security has been the foremost challenging issue to resolve for small business for many years now. The reason, for this, is the use of outdated 90s era attitude to security issues by the small business owners. As a result, cyber vulnerability is a very common flaw associated with small business organizations. Hence, cyber security upgrade can be a major step for your business’s success. As per records revealed by Microsoft, small businesses discover that their cyber security is infiltrated after 229 days (on an average) of the actual attack. Such is the level of security measures taken up by small businesses when it comes to cyber-infiltrations. Without an upgraded, up-to-date cyber security approach, your small business will not be able to grow properly.Business Intelligence and Analytics
It’s a common misconception that Business Intelligence (BI) and Analytics have little to do with small businesses. Well, just like the giant industries, small businesses can reap immense benefits by implementing BI and analytics in their decision-making processes. There are numerous ways by which BI can help to boost your small business; prioritizing issues that are really important for the growth of your company, streamlining and organizing internal systems, budgets and researches for your business growth, setting up target levels. All these are some of the areas where BI and analytics can efficiently work on. Customer Relationship Management (CRM) is a crucial tool for the success of any company, and that is where BI proves its real worth. Online relationship and digital presence is an unavoidable aspect that comes under CRM, and it can be handled wonderfully by BI and analytics. To sum it up, if you want to thrive in today’s competitive world, BI and analytics must be employed while strategizing for your business growth.
Big Data
A term that was the talk of the town during its early days (back in 2012), big data refers to a large number of business related information like customer behavioral, financial and identity related details, business and product related market status etc. that are gathered and used to make future business strategies and projects. Though its popularity witnessed downfall owing to the clumsiness of such vast numbers, yet you must not avoid it if you want yourself to be fully updated and aware of the existing demand, market status and competition around you before making any crucial business plans. The quantitative and numerical texture of big data is the reason for its success and ironically its downfall also. However, it is expected that a more humanized and visual way of representation of these humongous number of data would soon be available and that is when the use of big data will increase again.
Payment Processing
It is the era of digitization now, and you would hardly find any big companies and industries without the facility of payment processing incorporated in their mechanism. Small and medium businesses (SMB) also must start investing in payment processing technologies as people are now more inclined to pay through their phones or other devices. Though with these payment processing technologies, comes the risk of cyber-crimes. ‘High-risk payment gateways’ is something that is not unheard of and hence cyber-security must be tightened to avoid such threats. But, if this particular area is taken care of, then payment processing technology is a must for small businesses nowadays to survive and grow in this competitive and highly demanding market.By  Kate Ashton | Embed |
Author Bio - Kate Ashton is a writer at SharkProcessing.com. Shark Processing is a wonderful source for startup, small & medium-sized business owners & merchants to check plenty of genuine & unbiased high risk merchant account reviews & articles before opting for one. Connect with Shark Processing through Facebook and Twitter. | |
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