7 Ways Technology Helps With Business Growth Plus Examples
As you invest money in purchasing the right technological gadgets for your home, it’s important that you consider doing the same for your small business.
Leveraging the right technology in your small business can guarantee smooth business operation. It can also give you an edge over competitors who don’t leverage technology.
While many small business owners would love to scale their businesses with tech, only a few understand its importance or how to use it in their respective businesses. If you are among such individuals, you are in the right place.
Here are seven ways to leverage technology to propel your small business to greater heights.
1. Time-tracking to increase productivity
Many small business owners face various business-related problems, one of which is dwindling productivity.
Low productivity is common in small and large businesses. Sometimes, small business owners encourage employees to multitask to curb the issue of low productivity. But can multitasking really boost workplace productivity? Unfortunately, no! In fact, most times, it worsens it.
To improve workplace productivity, small business owners need to be wary of the time. And this can be easily done with the help of time-tracking tools.
Time tracking tools are designed to give you a good picture of how you manage your time throughout the day. It also helps you understand what changes you can make to boost your productivity over time.
2. CRM for better customer relationships
Customers are the lifeblood of every business. Without them, a business is as good as a nonprofit organization.
Due to the significant role customers play in the growth and development of a business, it’s important you invest a lot in building customer relationships.
And how do you do that as a small business owner? There are many ways. However, one of the best ways is by leveraging CRM software.
The right customer relationship software can help you build a loyal customer base, which is important in expanding your business. Most of this software is created to be used by entire teams so that you can assign tasks based on priority and still supervise the results on your own terms.
CRM software retains customer communication records, which can be used to cross-sell and up-sell to boost your revenue.
3. Wi-Fi for easy communication
Whether you run a logistics, furniture, or want to start a retail business, you’ll need to create an online presence to connect with your audience and market your product or service. Such is easy with Wi-Fi.
Wi-fi connects your devices to the internet. You can access Wi-Fi services via Wi-Fi service providers. On your request, these companies will supply you with a secure connection, limitless Wi-Fi access to your entire employee, and fast internet service for smooth communication, whether it is internal or external.
Plus, internet access is important as it helps you and your team conduct research regularly to keep you abreast of the happenings in the business world and your customer needs. With smooth internet access, you can carry out online surveys, gather data, and communicate with customers regularly.
4. IoT Sim Cards
Businesses need a business SIM card to initiate calls and browse the internet. However, unlike typical personal SIM cards, a business sim card has advanced functionalities. They are usually linked to a business account and are designed to offer shared plans/packages.
While some businesses leverage traditional sim cards, IoT SIM cards remain the best and the most efficient for a business in this modern era. In addition, these sim cards boast security, better network coverage, and durability.
IoT SIM cards have many plans designed for different business needs. You can choose the borderless IoT sim card plans or the multi-network coverage, which come with global coverage at a flat rate.
5. Monitor your budget
While you try to keep close tabs on your personal budget, ensure you pay attention to your business budget as well, especially when you aren’t sure that your business will thrive.
To streamline your bookkeeping processes and ensure accuracy and security, you can depend on the accounting software to make it easier for you while you focus on the core of your business.
That way, you’ll automate the process of payrolls, invoicing, and tax obligations, in addition to other financially sensitive tasks, while you always have the ability to supervise and make modifications to the system.
Furthermore, you can always leverage cash flow management software to monitor your daily financial capabilities.
Did you know that over 80% of U.S. companies indicate their systems have been successfully hacked in an attempt to steal, change or reveal sensitive data to the public?
Cybertheft remains one of the banes of small businesses. However, with the right software or technology, small business owners can worry less, knowing that their business data is safe and secure.
Hosted emails, antivirus software, web/URL filtering, web app scanning, full disk encryption, and other technology can be used to discourage cyber hackers.
In addition to technology, small business owners also have a role to play in securing their business. It’s important they ensure that the right information is accessible to the right individuals.
7. Make use of Virtual Assistants
Want to take some administrative tasks off your shoulder or that of your already-stretched staff?
A tech solution with a human touch can help! Virtual assistants, as they are commonly called, are freelancers that offer administrative help for you and your small business, often part-time.
These individuals who wouldn’t be working in-house like the rest of your staff can access the necessary planning documents, like shared calendars, with tech software.
You can outsource your business processes or hire virtual assistants for your small business through many freelance sites. They can shoulder difficult tasks, thus allowing you to focus on important business matters.
The big guns of today leverage technology to provide better customer service, improve their brand, market their products or services, and scale their business.
So if high-revenue companies are turning to tech, why shouldn’t you? Pinpoint the important tech for your business needs and use them to boost your business operations.