2019 was a huge year for technologies in the business realm, with the debut of virtual assistants in the house, and augmented reality, blurring the line between the physical and electronic world. Certainly, the speed of technological innovation is making it hard for companies to keep up with the continuing shift. Technology has developed so rapidly that it is ingrained in almost every small business today. No matter whether you are a wedding photographer or perhaps a catering company or dog grooming services provider you must use some sort of technology in your business.
Are some of those tech trends that emerged in 2019 set to shake up the sphere of small business in 2020? Here are just five tech trends that small company can expect to see, and capitalise on for the rest of the year.
Cloud computing is just one of the technology trends that’s well and truly here, with browser-based software now dominating how we tackle work. Small companies should completely embrace this shift and move up to the operations to the cloud as you can, which makes locally handled hardware redundant and saving prices as an outcome.
Cloud computing enables all companies to store their information entirely online. Not only will this add to the benefit of not needing to carry around a hard disk or USB, but it’ll be accessible anywhere, on any device, any time of day. It’s also far more secure. Cloud computing has been around for a while now but had been restricted to large enterprises with money, however, there are many platforms that offer services particularly for small businesses, that is easy to use and understand. If I could offer any business owner advice today, it would be to get on board with cloud computing, once you realise the efficiencies you will never go back to outdated technologies.
Cloud bookkeeping has passed the tipping point for small companies — and why would not it? Products such as Xero, MYOB and Quickbooks are taking more thanks for their instinctive design and simplified method of accounting and bookkeeping. No more do companies will need to be chained with their bookkeeping software in their workplace. Provided that you’ve got access to an online connection, you can get real-time small business analytics and data on the move. Once again, cloud technology is facilitating more possibilities for small businesses. You can check your analytics and cash flow whilst waiting for clients on set at Melbourne wedding photo locations in real-time.
Tired of waiting for money to reach your bank account? This ought to help. 2020 is the year obligations must start to instantly hit your bank accounts when they’re sent. No more waiting 24 hours or 2 working days for a payment to reach on your accounts. Real-time payments are already rolled out by most large banks and institutions in the form of ‘Pay IDs’ taking the place of a bank account number and BSB number. A pay ID could be an easy to remember number, such as your phone number, minimising the amount of data you have to memorise and reducing error. Along with cloud computing, these trends are really simplifying business and allowing us to carry out tasks quickly and without delay.
Complementary to the growth of cloud solutions, the push for more flexible working conditions has forced small companies to modify their conditions of employment. Technology has empowered workers to work from nearly anywhere with an online connection. Studies have proven that this method of functioning has had a hugely positive effect on employee participation, allowing greater productivity and saving costs for both companies employees. The flexibility of workforces has encouraged employees to set their own schedules and move away from stressful 9 to 5 days.
With video projected to maintain more than 80% of all internet traffic by 2021, it’s not surprising that small companies are working to seize this chance. Does video constitute a lot of the articles on the world wide web, but 90% of clients report that merchandise videos help them make purchase decisions. Video’s capacity to boost customer retention retains the excellent potential for conversions, using a documented 64% of clients more inclined to purchase a product on the web after viewing a movie about it. It is about creating a feeling and making it memorable, many businesses may partner with a charity organisation and produce a small video about their experience.
Talking to small business advisors has revealed that small companies should aim to incorporate video into their business plan and make a compelling narrative. It is quickly being realised that the best way to reach an end consumer is through creating a narrative with the interests of the consumer in mind and giving them what they really want.