Importance of Technology in Small Business
Technology is becoming a major factor in every startup business. The last two decades have marked an enormous increase in technology use in business. Through advancement in technology in computers and the internet, small businesses are contributing more to the economy than in the past. Technology has made it easy in processing daily business activities and routine tasks. Technology has tangible and intangible benefits in a small business that affect the culture, relationships and efficiency of an enterprise. New technology has boosted the security of small business by offering secure confidential information and trade advantage. Below are the benefits of new technology to small businesses.
Effective customer communication
Technology is critical to a firm’s ability to communicate with client effectively. Small business growth capability is determined if its employees can effectively interact and sell its agenda to clients. Web sites allow customers to find a company’s information quickly. Technology has enhanced faster shipment of products allowing the business to cover larger geographic areas.
Good customer –business communication translate to faster growth. With social sites, the company can market their services to a large population more quickly and conveniently. Good communication creates good public image hence attracting more customers.
Efficient communication improves customer trust to a company. They can get feedback on their services or products from the customers directly without involving expensive paid surveys. The business can, therefore, improve its products to compete favorably in the market.
Technology has freed small businesses from the restrictions of prints ads when it comes to reaching new and existing customers. Internet marketing ranges from a simple informational website, to advertising on search engines, to online product sales. Email marketing is an effective and low cost method to reach a large group of people with a newsletter, coupons or business updates. Mobile marketing is a relatively new frontier that reaches people through text messaging, advertising on mobile applications and offering branded applications that tie customers into what is happening with the business in a fun and entertaining way.
Small businesses need to wring every ounce of productivity out of their operations and technology tools help employees get tasks done more quickly. This may range from printing out marketing materials to providing customer service through email or online chat. The key is to keep employees focused when using technology and to use it appropriately with the goal of saving time. Sometimes, a phone call may be more efficient and productive than an email. Provide employees with the right hardware and updated software to keep them working at peak proficiency.
Technology in the workplace practically eliminates space and time. Video conferencing technology lets businesses on any part of the globe interact with one another. Technology reduces travel costs because businesses can set up virtual meetings and distribute data without the need to be in the same room. Technology allows businesses to establish a global presence at a fraction of the cost.
Technology also helps a business understand its cash flow needs and preserve precious resources such as time and physical space. Warehouse inventory technologies let business owners understand how best to manage the storage costs of holding a product. With proper technology in place, executives can save time and money by holding meetings over the Internet instead of at corporate headquarters.
Most businesses of the modern era are subject to security threats and vandalism. Technology can be used to protect financial data, confidential executive decisions and other proprietary information that leads to competitive advantages. Simply put, technology helps businesses keep their ideas away from their competition. By having computers with passwords, a business can ensure none of its forthcoming projects will be copied by the competition.
A business that has the technological capacity to research new opportunities will stay a step ahead of its competition. For a business to survive, it must grow and acquire new opportunities. The Internet allows a business to virtually travel into new markets without the cost of an executive jet or the risks of creating a factory abroad.
Mobio Solutions is a provider of mobility solutions to technology companies, SMEs or software firms globally. We aim to bridge various business gaps through technology and mobility. We are innovation-oriented and provide solutions to connect businesses using advanced mobile and software solutions, taking them to the next level. We upscale the growth of Startups by delivering customs as well as inbuilt solutions, implementation and support. Our expertise on