In order to compete in today’s business world, one has to embrace technology. Small and medium enterprises are taking advantage of the rising digital era and evolving to compete on level grounds with bigger corporations. The recent outbreak of Covid-19 led most companies to turn to technology to keep afloat; even companies that relied on the traditional brick-and-mortar business model had to adapt by adopting online services and work-from-home strategies. The digital transformation is upon us and to grow even further we need to reinvent and innovate with technology as the driver of change.
1. Online Technologies
Small businesses require the use of technology every day: from printing to PowerPoint presentations, the digital age has not just begun but it has become a necessary tool for any business that wants to move ahead in the game. Email was a front runner for sharing and keeping up to date but with the advancement of technology new services providers such as AWS cloud consulting have come up that allow for a wider range of online services. From delegating tasks, keeping track of various projects to updating the client and collaborating in team projects, the web has expanded the office beyond the physical address. An online presence not only makes it easier for clients and prospective customers to get to you but also increases the brand reach and has a huge impact when advertising.
No longer are you restricted to an office, with cloud computing now the trend, the flexibility of the work environment allows you to work from anywhere, home, abroad, or even on a commute, the hours you work also become more flexible. Brainstorming is easier with connectivity allowing for conference video calls and instant messaging applications. Outsourcing has gone global as companies are able to hire talent from anywhere in the world: this has the added advantage of reducing the expenditure of maintaining a large office and the logistics involved in handling all the employees. Workshops are held online and employee training is now digital thus are more efficient and reaching a higher number.
2. Advanced Security for Peace of Mind
To get the best out of technology, we have to provide a lot of personal information; addresses, credit card numbers, and even social security numbers, this information is private but it is required to access certain services. Once this data gets into the internet, it is there for life and the security of such sensitive information is paramount. Technology allows this information to be stored off-site in remote servers with restricted access; this means that, unlike the bulky and easily accessible physical filing, the data is safe not only from prying eyes but from the risk of getting damaged or lost.
We enter an age of online transactions where instead of building warehouses all over, companies are now setting up websites to sell their goods and services; this eliminates the need for bulk storage and the risk of damage.
Payment methods are also going digital, next-generation payment systems are secure and fast and can be carried out from the comfort of your home. Staying up to date on inventory is easier and more efficient when carried out online, rather than counting stock by hand, algorithms automatically update the inventory list as stock comes in and goes out. With computers keeping track of your daily business, it is easier to keep track of creditors, debtors, suppliers, and clients.
3. Real-Time Updates and Feedback
Mobile phones have evolved to such an extent that they allow for real-time synchronization with servers at the office. This in turn allows you to keep an eye on work as go about your other commitments. Clients need to know that their needs are going to be taken care of anytime and anywhere; customer service and even human resources are some of the areas that need to be available at any given time.
Customers are happier if they are able to receive prompt service and any feedback offered is received just as quickly. Inquires and surveys do not take up time and resources but are easily carried out through various messaging and web hosting services.
Technology has come to ease the cost of doing business and companies walking towards the future are embracing the role technology is playing in the advancement of small businesses. Change is inevitable and it is not always good but the merits of adapting to a technological world far outweigh the demerits. As the world becomes more connected, the mantra has become “Going Global.”