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How Technology is Changing the Way Small Businesses Work

by Josh Biggs in Business on 8th December 2019

With every day that passes the technology, we use in our lives gets more advanced. The spreading of technology isn’t just in our personal lives, however. In the modern business world, apps and technological devices are used to complete more and more tasks every year and there’s no reason to expect that trend to slow down in the years to come. If you own a company it’s important to know about the many ways technology is changing the way business is being done so that you can look for ways to make your business more efficient and more profitable. Here are some of the top business tasks technology is changing for the better.

Processing Sales

If you’re in a sales-based industry, then anything that makes it easier for customers to buy your products is a welcome development. From online stores to mobile credit card readers helping cash-only businesses expanding their ability to receive payments, technology is vastly improving the way sales are made. Apps that allow for one-touch payment make it even easier for regular customers to pay at the register, which also helps to build loyalty as they earn points and rewards on a customer loyalty app.

Managing Inventory

Once the sales at your business are moving at a quicker pace, your inventory management system has to be updated to match. With computerized inventory management businesses have it easier than ever to track inventory levels. Systems like automatic restocking orders can help a company make sure they never run out of an important office item, and retailers benefit from having quick and easy access to precise inventory numbers whenever they need them.

Coordinating with Staff

One of the biggest areas of improvement in the modern workforce is the ability to communicate and coordinate with staff. Online workspaces make collaboration easy as more than one staff member can each log on and access the files they need so that when one staff member is ready to send the work to the next employee in the production line they simply need to edit the online version or upload a copy to the company cloud and the next employee can take over. This results in significant time savings, which can result in an overall increase in the company’s bottom line production levels.

Digital Advertising

There is no trend in advertising hotter than digital ads. With its popularity on the rise, social media is a major player in the advertising world now. Once you take the time to understand the benefits of digital advertising it’s clear why it’s become such a must-have in any marketing campaign. Most online advertising platforms allow for very specific targeting of your ads, so you have a great deal of control over who is seeing your ad placement. With the widespread popularity of Facebook, the detailed information many users provide on it and the use of Facebook pixel to track visitor behavior on your site, you now have the ability to not only find out the exact demographic most likely to buy your products but then to target your ads specifically to users who fit that profile. With integration on so many websites, you can even have placements off the social network guided by the user profile of the browser.

Working Remotely

While you may have once been restricted to looking for employees in your immediate area or those willing to relocate, for many fields, modern technology is expanding the workforce significantly. Remote working has become popular with employees taking advantage of the same online collaboration tools as office staffs benefit from, with the added perk or not even being in the same location. For employees, this means a more comfortable working environment in their own homes. For companies, this means a more effective workforce as expanded access to more potential workers improves the talent pool, while happier employees are capable of turning in higher quality work.

Finding Funding

Even the best business can’t get by without the right funding, and technology is changing the game there, too. From getting started to finding the funds to launch a new project or undergo an expansion, there are modern solutions for all funding problems. Online loan providers like Quick Loans Direct make it easier than ever to get a quick cash injection for a business. Crowdfunding sites like Kickstarter allow a company to launch a new product with the assurance that a market exists because backers have already put their money where their mouths are. Technology is making business funding a modern endeavor with many profitable options to pursue.

With so many big leaps forward seeming to happen every year, it’s easy to feel overwhelmed about what technology is doing to change the world. When changes are as beneficial as these business opportunities, however, you’re in prime position to benefit. If you’re not already taking advantage of these technological opportunities, you should see if they can help your business achieve more.

Categories: Business