The domestic employment trends index showed another month of growth, which goes to show that businesses are feeling bullish about their prospects in today’s economy. And frankly, they should.
Consumer spending is solid, and despite media rhetoric of a recession, that talk isn’t doing much to slow buyers.
To cash in on all of the opportunity that exists in today’s marketplace, entrepreneurs should put one thing ahead of all other initiatives. That thing is embracing technology for business.
Technology for business embodies a breadth of solutions that help organizations to be more productive, make better products and better serve their customers. If you’re not sure which bits of technology your company should prioritize adopting, keep reading and take our team’s advice on what matters most.
1. Automation
At the top of every business owner’s to-do list when it comes to technology for business is automation. Why? Because automation makes things happen faster while saving you money.
Think about it… If you employ a temp to pull data from one piece of legacy software to another, you might end up paying them thousands over the course of that multi-month project.
Alternatively, you could use an application that passes data between legacy software instantaneously. That application might cost you $100.00 or less for a monthly subscription.
2. Cloud Technology
It used to be that companies operated off of servers that they housed in their offices. Not anymore.
With business becoming progressively global and employees working away from their desks more often, we’re seeing entrepreneurs find out more about cloud companies and technology. Those entrepreneurs are then integrating what they learn into their workflows.
Storing your data and applications in the cloud as opposed to storing them locally means seamless access for your team. It means being able to collaborate on work with offices across the world without sending emails. It means your company becoming untethered.
3. Augmented Reality
For the uninitiated, augmented reality (AR) is when applications allow people to see/interact with things in their real-life environments that aren’t there. For example, a GPS application that enables people to look through their phone screens to see guiding arrows on the street.
With smartphone adoption nearing saturation, expect to find great opportunities to integrate AR into your products.
4. Cybersecurity
The average cost of a data breach is almost 4 million dollars. To avoid dolling out that kind of money, always stay on the cutting edge of cybersecurity technology.
Some government organizations thwart millions of hacking attempts every day. If your company was subjected to just a few of those without proper defenses, it could mean disaster.
5. Voice Controlled Queries
Do you let your customers interact with your brand using their voice? More companies are and if you aren’t looking into this technology, you may be falling behind.
People are increasingly relying on virtual assistants like Siri and Alexa to interface with the world around them. By offering your customers that option, you could see deeper levels of engagement.
6. eCommerce
It’s no secret that people are buying things online. What’s not so obvious is the fact that there’s still a tremendous amount of room to grow on this frontier.
Today, just 10% of purchases are being made online. As that number continues to inch towards becoming the majority, you’re going to want to get your products and services online so you don’t miss out on opportunities to earn.
7. Chatbots
Somebody out there is looking for what you’re selling 24-hours per day. The problem with that is your team is only available to assist that customer Monday through Friday from 8 am to 5 pm EST.
To remedy that issue, companies are turning to technology for a business revolution that is Chatbots.
Chatbots are AI-powered chat windows that customers can request information from, 24/7. These bots have deep knowledge of your company and can answer questions whenever your human team isn’t available.
8. Social Media
Social media is a technology for business trend that if you haven’t tried, you’re behind the curve on. The good news is that there’s nothing stopping you from hopping on the bandwagon.
Social is used in a variety of ways, from sharing information about new products to acting as a customer support medium.
There are a lot of social channels out there, so try to focus your attention on the ones that you feel your customers engage with the most.
9. Remote Offices
Office leases are expensive. Consequently, more companies are ditching them and moving their organizations to the cloud.
Technology like Slack is making it easier than ever for remote teams to be every bit as productive as teams that meet in brick-and-mortar buildings. While not every company is set up to dive into working virtually straight-away, we recommend looking into and experimenting with the idea.
Technology for Business Isn’t Something to Be Afraid Of
Our team is made up of unabashed evangelists of technology for business. If you don’t share our enthusiasm because you’re concerned that technology might undermine the processes that you’ve relied on for years, don’t be.
Technology is built to empower people like you.
Make it a point to learn new tech as it comes out and be the first to implement tech that makes sense to your organization. If you do that, you’ll find yourself running laps around your competitors.
Do you want to obtain something in your business or in life? If you do, our content is for you. We publish new aspirational content every week that can single-handedly move you in a positive direction.
Don’t take our word for it. Keep digging around our blog and see first-hand the value that our content offers!
