It’s no doubt that the business world is changing fast. Industries as well as small businesses must adapt or become irrelevant. Small businesses have to work smart if they want to survive in the digital world. They can do this by investing some of their capital in tech innovations that can improve efficiency and make them more competitive. As such, these business must look out for tech innovations that can streamline their operations and bring a positive impact instantaneously. Read on to know how Guy Galboiz explains small business tech innovations to watch in 2021 and beyond.
- Enhanced data analytics
Data has been key in the success of many small as well as large businesses, However, in years to come, data will be more important for small businesses. Startups and small business must work on their ability to gather, organize and process data to get helpful insights. These insights will be used to improve their products, services and business processes. Data analytics will help you in getting market and customer insights that can inform business decisions. You can invest in data analytic software or hire a data analytic company to do the job for you.
- IT automation and AI virtual assistance
Information Technology or IT has not been a priority for many small businesses. However, it is now time to invest in IT and AI-enhanced systems that can help you automate many tasks in your business. You can consider advanced software that help in accounting, marketing, scheduling and more. AI virtual assistance and the use of chatbots can also help you streamline your customer service. Automation has many advantages such as reducing chances of human error and can help reduce cost of running a business.
Small businesses must also focus on making investments in blockchain which can help secure transactions. Also, the system can prevent costly cybersecurity incidents. Blockchain also helps you to securely transmit sensitive contracts or documents with verification tools. This ensures that the data is not compromised during the transmission. Many companies such as MasterCard, IBM and FedEx have invested in blockchain to secure their transactions. Bitcoin is another good example of a blockchain technology.
- Mobile payments
In today’s digital world, you should make your business the better option by offering different payments methods. Customers expects your small business to accepts mobile and NFC payments. Its’ essential for businesses to consider new mobile banking options for convenience and flexibility.
- Cloud-based HR
Small businesses can be overwhelmed by human resources infrastructure that can be complex and expensive. You can now invest in cloud-based HR that make it easier to manage your personnel. The services may include self-service apps. Besides, these HP systems can help in recruitment and training of employees, allowing you to focus on improving your business. Such a system brings convenience to your workforce and is likely to improve productivity and efficiency of your employees.
About Guy Galboiz
Guy Galboiz is an entrepreneur who has founded several startups such B-Capital and Protonix. Besides, he works as at Galboiz Marketing Agency that specializes in online marketing monetization and automation, among other ecommerce related things. Besides, he is an investor and technological enthusiast who likes sharing his knowledge and opinions on many issues related to internet marketing and technological advancements.
There are many tech innovations that can change how small businesses run. According to Guy Galboiz, small businesses that want to survive in the digital era should invest in data analytics to get helpful insights that can help in decisions making. What’s more, these businesses must invest in IT and AI based systems to automate and streamline business processes. All these will help small businesses grow and expand in competitive markets.
Published by Nicole Elizabeth