One of the most important decisions a small business owner will be making in 2019, is how to allocate spend. High on that list should be technology investment. The right tech can give your company a competitive edge, keep you current and improve operations. This can only have a positive impact on your bottom line. So which are the top technologies for small business that should be attracting your investment this year?
Top technologies for small business
Cybersecurity is one of the top technologies for small business. And is not somewhere you should be looking to save. According to the 8th Annual Allianz Risk Barometer survey on business risks, cyber incidents remain one of the highest risks to small business owners in Australia. Which is why entrepreneurs are now educating and arming themselves for cybercrime as much as they would for any traditional exposure. New risk management solutions, analytical tools, and innovative partnerships can help to better understand and mitigate the many risks facing business and prevent losses before they happen. Make sure your devices are updated with the best security software on the market. Also, ensure that the right staff has access to tiered company information. Another tip is to test your own weak areas before someone out there tests them for you.
Integrate Your Technologies
Gone are the days of independent departments. This year, consider integrating all areas of your business with smart technology like ERP (Enterprise Resource Planning). This enables departments to share reporting systems and speak to each other automatically. Giving you a bird’s eye view of your company’s performance. And empowering small decision making.
Your website is also one of the top technologies for small business. Users are continuously on the rise. Meaning your website needs to be easy to use on all devices. Consider upgrading your website so that is it is easy to use on mobile platforms with better navigation, tag-able content, favourites lists, reordering options and multiple product images.
Upgrade Your Hardware
The thing with technology is that the tides turn very quickly. Operating systems become outdated incredibly fast. And competitive markets constantly result in better ways to do tech-driven business. Remember that downtime effects efficiency. Not to mention slow servers and inconsistent Wi-Fi. Your business needs to be in the fastest, most efficient lane when it comes to technology. Don’t wait for a screen to go black before replacing it.
Fast Pay Is The New Way
It stands to reason that the quicker a client pays you, the better your cash flow. E-Invoicing and bar code payment scanners give customers a quick and easy way to pay while its still top of mind.
Aim To Automate
Consider finding ways to automate repetitive tasks that tie up your resources unnecessarily. Scan your business to find places where your staff is being slowed down by manual activities. If these areas can be automated with technology, it will then free your team up to focus on revenue generated tasks instead. It is also sure to reduce manual errors, remove bottlenecks and increase productivity.
Funding For Growth
These sorts of upgrades, while necessary, are expensive. They often require cash flow that is not readily available. If this is the case, then your small business should consider Beyond Merchant Capital. The working capital providers with the hassle-free cash advance solution, which can be obtained in as little as 48 hours. With their help, you can implement your technology plan in no time at all. Safeguarding and streamlining your business with little worry about how to finance it
Top technologies for small business is not a nice-to-have in 2019. It is an absolute necessity. You can bet that your competitor is thinking this way, which means you should be too.
Speak with a lending specialist today about funding the growth of your business.