How technology could transform your small business
Entrepreneurs frequently contemplate different ways of getting their business to grow. To stay relevant, it is important to keep up with the competition, and technology has proved to be quite a significant ally in this quest.
Nowadays, technology is developing rapidly. The sheer number of technological innovations is vast and it is difficult to keep track of it all. Therefore, coming up with a list of tech solutions that might help a business grow sounds like a rather daunting task.
This is why we have taken it upon ourselves to come up with some interesting tech modernizations that could help businesses reach entirely new levels.
Before social media, it was not nearly as easy to reach targeted audiences as it is today. Small-business owners had to travel long distances and visit numerous fairs and conferences in order to get in touch with the people who might be interested in them.
Today, this kind of marketing has been taken to a whole new level. Websites like Facebook or Instagram offer platforms where businesses can target new customers directly. They can monitor the potential clients’ behavior and presence on these websites, thus learning about their habits, preferences, and dislikes. This allows businesses to grow in unprecedented ways, more quickly than ever, due to the invaluable data that can be gathered.
Apart from building its online presence, a business can also benefit from being available to its customers on these websites. Being able to contact a company directly is often highly appreciated, as clients and find solutions to their problems by chatting with customer support representatives.
ERP (enterprise resource planning) software has the power to improve any business quite quickly. ERPs offer a single platform where most of the important business functions are integrated. All the key functions, such as accounting, customer relations, human resources, or production, are brought together, which makes it much easier to view a business as a whole.
This modern type of software allows business owners to gather different kinds of data regarding customers, invoices, quality control, etc. Then, an ERP can be used to analyze the information, gain valuable insight, and understand the trends regarding different segments of the company. Of course, all of this is done in a highly automated way. Data entry is, therefore, less time-consuming, and the employees are, in turn, more productive.
This kind of technology has come even further — nowadays, small businesses can use a manufacturing ERP, as well. This way, the processes of production and sales can be fully controlled and overlooked. With the help of a manufacturing ERP, inventory numbers and employees’ tasks are updated constantly, making it easier to avoid any kind of miscommunication. Finally, with the help of this software, a product’s life can be tracked fully — from raw materials to its delivery to customers.
New payment methods
Payment methods available to customers have changed significantly recently, as well. The times when clients would only be able to use their checkbooks or credit cards are long gone. Today, the variety of payment options is much wider.
Numerous web-based payment methods have emerged over the last couple of decades, Payoneer being one of them. Digital wallets (PayPal, Venmo, Skrill) have become increasingly popular among prospective customers, as well.
A larger number of modern payment options allows a business to offer its products to completely new customer groups. With greater flexibility comes a greater number of clients, which is why we wholeheartedly recommend considering new payment methods.