Small businesses may not be at the forefront of emerging tech like large enterprises, but they are sure pulling their weight in advancing tech trends. Today, many tech trends can be scalable and applicable to small businesses, unlike the old days when business technology was solely targeted at large corporations.
This article focuses on the latest technologies that small businesses should adopt to boost their revenue and drive customer growth. Small business loans can help your business pay for an upgrade to these trends.
A lot of small businesses are now adopting cryptocurrency for payment. Bitcoin and other popular cryptocurrencies like Litecoin and Ethereum are the most widely adopted. This has led to a wider range of payment options apart from PayPal, Mastercard, Visa, etc.
2. Artificial intelligence and machine learning
Artificial intelligence and machine learning algorithms are driving business growth and helping businesses to make strategic decisions. Thankfully, artificial intelligence solutions are now offered by B2B companies that can apply this technology to small businesses too. Artificial intelligence can help you automate manual tasks, save a business time and drastically improve your business efficiency. It can also help with automated data entry and processing.
3. 5G Technology
5G is the latest internet broadband technology that will drive IoT (internet of things) and other tech trends. 5G has a significant speed improvement over 4G and will propel businesses forward at a faster rate. 5G improvements for businesses mean low latency, crazy internet speeds, total automation, total remote servicing, virtualization, and more.
4. Comprehensive CRM technology
CRM (Customer relationship management) will become far better than ever thanks to new technology that allows for better personalized relationships between businesses and customers. CRM technology now allows for better customer tracking, sales analytics, dashboards, sales forecasting, contact management, lead optimization, mobile CRM, customer segmentation, and more. All these features have now been implemented for small businesses too, and they can now enjoy them.
Small businesses now take cybersecurity seriously as a result of several targeted attacks at businesses globally. Large businesses are the most affected, but small businesses are now taking big steps to protect their businesses and stay ahead of the curve. Some small businesses have also been targeted by Ransomware and other similar attacks. Small business firms now have comprehensive backup plans and disaster recovery solutions. Cybersecurity firms can help small businesses with this. If your business needs cybersecurity services and you can’t afford to pay yet, small business loans can help you out.
6. Tech-assisted shopping
Tech-assisted shopping helps to improve the overall shopping experience of customers and saves small business owners a lot of stress. Thanks to technology, mobile eCommerce, contactless shopping, QR code shopping, mobile terminals, online payment, and more have all been made possible.
In the past, automation had largely been seen as a thing for large businesses. But today, small businesses are now reaping the benefits of automation. Automation is now helping small businesses save costs on the number of employees they employ, time, and resources management. Online pricing automation and automated inventory control are a few of the ways that automation is helping small businesses.
How to choose the best technological trends for your business
Study your competitors and the big players in your industry. What technological trends do they follow the most? Use that to choose for your business. Then you also need to check the affordability of the technological update. Can your business conveniently afford it, or is it going to wreck your business?
These are the top technological trends that can boost your small business. Small business loans offer a good way for you to invest in these technologies and reap their benefits for your business.