What Technologies Does My New Business Need?

Estimated reading time: 4 mins

We live in an era where unexpected changes are being made to technology on a constant basis. Various types of technology can help small business owners grow their prospects and become more productive.

As a result, you may be asking yourself which technologies you should be investing in to ensure long-term productivity and ROI for your business. Regardless of which industry your business is in, we have listed a number of technologies that are sure to come in useful. Here are some of the most useful options to consider if you’re about to start a brand-new business.

1. Chatbots

Nowadays, people expect exceptional customer service and instant responses to their queries. Gone are the days when customers would have no other option but to sit on the other end of the phone until an advisor became available, or wait for days on end for an email reply.

Enter the ‘chatbot’ — a form of instant messaging which is managed manually by an advisor or through artificial intelligence to communicate with a customer. You may be more familiar with chatbots on social media platforms such as Facebook, but in recent years, they have become more widely used within business websites.

2. Cloud Computing

According to a survey, 59% of small businesses claim that cloud computing has completely transformed their organizations in terms of productivity and scalability. This type of software ultimately allows businesses to set up a virtual office and communicate with employees both in-house and remotely. With the amount of time being spent on smartphones, cloud computing has also become mobile-friendly in recent years, so you’re able to carry out work on the go. Cloud computing such as Gmail and Dropbox can be used by any business, while specialized software for businesses in the inspection industry, for example, allows professionals to schedule orders, communicate with clients and utilize a unique inspection report feature.

3. Financial Account Systems

Accounting systems play a vital role in both small and large businesses, with every single transfer of money, either payable or receivable, being recorded. These systems not only flag up fraudulent activity, but they save a great deal of time in contrast to manual booking. As a result, you may not need to hire a bookkeeper to manage your finances, which could save your business a significant amount of cash. What’s more, reliable financial software avoids errors and ensures each calculation is completed accurately.

4. Wireless Conference Rooms

It’s becoming extremely common for companies to discuss strategies, issues and solutions for the business with wider teams across various premises, thanks to the creation of wireless conference rooms. This method of technology allows managers, employees and clients to speak directly with one another without the need to be physically present in one location.

5. High-Speed Internet Access

It goes without saying that every business needs to be linked up to high-speed internet in order to achieve full productivity, especially as most forms of technology rely on the internet to function. What was once considered high speed just a few years back may now be considered ‘slow’ due to the developments that have taken place, so it may be wise to hire a professional to check your internet speed.

For businesses who are solely online, a fast and reliable internet is the crucial lifeline to their company.

6. Data Security

Your workplace premises is not only at risk of criminal activity, but your online data is too. With this in mind, it’s absolutely essential that all of your business files are backed up and secured. If your business deals with sensitive client and customer records, it’s even more important to be aware of security technology for the sake of your reputation.

Each of the devices you use should have a firewall installed, which protects any sensitive data against malware, spam and phishing threats.

The next stage is to ensure your data is backed up by putting a disaster recovery proposal into action. This may be as simple as ensuring each file is uploaded to the cloud immediately and downloaded straight to your device again in the event of a total wipeout.

7. Automation

Thanks to the development of automation, machines are now capable of fulfilling routine tasks so that humans can concentrate on more important aspects. Automation is becoming more common in an array of industries, especially managing production lines in farming and manufacturing, which has been proven to minimize costs, ensure greater efficiency and a speedier turnaround. There are also many other practices where automation can come into play, including managing employee leave requests, time and attendance tracking and invoicing.

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