In an age where technology dictates more than most of the operations in an organization of any scale, it is time to make a swift and steady transition to adopting advanced technology for seamless business operations. IT Consulting firms help to adopt new technological advances and help businesses to efficiently reach out to their target customers and run their operations smoothly.
Various aspects of business invariably benefit from adopting an advanced level of technology. Certain important aspects that are a part of the founding values of an organization greatly benefit from implementing the trending technologies, which is the need of the hour.
- The efficiency of business operations
- Profitability of businesses
- Communication between the stakeholders within the organization and with the stakeholders from outside the organization viz.clients and customers
- Improved customer service
- Improved security of the business processes
As a budding and small scale business, what technological advances one can adopt to add value and profitability to the business?
Having an online presence is sacrosanct to any business. And with that, the effective use of chatbots can be put to use for effective customer services. According to Business Insider, “More than 85% of customer interactions will be managed without humans in 2020”. This is an important insight that small-scale businesses can employ to furnish par excellence customer service with minimum effort and reaping maximum output. This automated customer support service tracks and responds to a customer without involving any human effort. As a result, more than 90% of the customer queries are solved using the intelligent chatbot which is fed with data after identifying the parameters wherein customers may face any difficulty availing your services and/or products.
Internet Of Things
More than half of major new business processes and systems will incorporate some element of the Internet of Things (IoT) by 2020, according to Gartner, Inc. IoT for small businesses comprises devices, used by the support staff within the organization and customers, that are connected to the internet. This enables businesses to have absolute control over their intra processes and hyper-customization of the services to their customers. Aspects like, event recording, dynamic inventory management, equipment maintenance, and energy management are well taken care of by the effective use of IoT. This allows businesses to optimize their operations and increase profitability and productivity.
This is a relatively new concept that helps to connect the buyers and sellers with an interface, where they can connect and earn revenue with the interface platform the small businesses develop to connect two entities in a trade. The concept often referred to as ‘People Commerce’ can benefit small businesses as they can connect with the service providers and offer the platform to sell their services and/or products to their customers. And in return, the businesses can charge for the interface platform that they provide as a service.
Another technological advancement that small businesses can adopt is smart payments. With most businesses going online, it is only wise to incorporate smart payment systems to online businesses so that the niche customers can swiftly make contactless payments, on the go, and at their fingertips. This not only helps to generate more business, as the products are easily accessible to the customers but also can be easily paid for.
Big Data Processing Tools
Big data analytic tools help small businesses in ways more than one and help them to channelize their efforts to the target audience and draw from them. These data processing tools help to analyze the customer’s buying patterns and predict the future trend of their purchase. The businesses can utilize these predictive analytics and mold their marketing strategies to target the exact needs of their customers. This greatly saves time and effort to plan the marketing strategy without studying the customer buying patterns. In addition to shrewdly planning the marketing strategies, big data processing tools help to forecast the demand and production of any business and thus, streamlining the business process.
One of the rapidly proliferating technologies which are easy to adopt by small businesses is the use of beacons. Beason technology connects to the customer’s handheld devices and uses its GPS location to send them customized offers based on their proximity to the business. The beacon technology enables to send customized offers to the customers just the moment they anywhere near to the radius of the store. This not only prompts the customers to glance through the store that is by their way but also to make a purchase from the store with the offers that were popped up on their mobile screen through the beacon.
Key Take Away Points
Harnessing the power of technology improves the overall efficiency of a business and allows the business owners to make an informed decision about their operations. The automation of the processes eases to streamline the labor and financial aspects of a business and helps to improve the security of a business. IT consulting firms suggest ways to implement the best technology for small businesses and identify ways in which they can generate good revenue. The trending technologies are not only meant for the enterprise-level businesses but it can be wisely adopted by small businesses alike to reap proactive results and streamline business processes.