for Small Business
Technology is advancing so quickly that it’s virtually impossible for any single person, business owner, or even entire business unit to keep up with it. Small businesses often don’t have the bandwidth and resources required to understand and implement these technologies, leaving them at significant risk of losing their competitive edge.
That’s where we come in. We help small businesses with 250 employees or less in two key areas.
Knowledge & Resources
The number of articles, videos, podcasts, information websites and companies sharing information on changing technologies is simply overwhelming. They tend to focus on Artificial Intelligence (AI), which is rightfully a strong focus, but there are also huge advancements in other areas (see below) that are also massively impactful.
We do the heavy lifting and research for you, culling through an enormous amount resources to deliver hand-picked and relevant information for small service business leaders like you.
Audits & Recommendations
We conduct an audit of the tools and technologies currently deployed in each of your key organizational areas (see below), and recommend an upgraded set of optimized tools and and advanced technologies – all optimized for your specific business goals and strategies.
7 Technologies Transforming Business
Many small business owners are so busy talking about the latest and greatest AI tools that they run the risk of losing a competitive edge by falling behind on the other advanced technologies changing the way the world works.
This isn’t a comprehensive list, but it’s a shortlist of core technologies that all savvy business leaders need to be knowledgeable about, at the very least.
Artificial Intelligence & Machine Learning
The first on our list is everyone’s favorite: Artificial Intelligence and Machine Learning. For small businesses, AI and ML technologies present an opportunity to increase efficiency and profitability.
AI can automate repetitive tasks, such as customer service through chatbots or scheduling through digital assistants, freeing up time for employees to focus on more complex problems. On the other hand, Machine Learning can analyze vast amounts of data and make accurate predictions based on patterns, which can be beneficial for forecasting sales, managing inventory, or even predicting customer behavior.
AI and ML also support advanced personalization. By learning from customer interactions, businesses can tailor products, services, and communications to each individual’s preferences, significantly improving the customer experience and increasing brand loyalty.
Blockchain technology is changing the financial landscape, with applications that extend far beyond cryptocurrencies. For small businesses, blockchain can revolutionize operations by providing transparency, security, and efficiency.
Blockchain can eliminate intermediaries, making transactions quicker and cheaper, while the decentralized nature of blockchain technology can help reduce fraud and ensure data integrity. Smart contracts on the blockchain can automate and secure business agreements, reducing the risk of disputes and streamlining the transaction process.
Supply chain management is another area where blockchain can make a significant impact. By tracking products from production to delivery on a transparent and immutable ledger, businesses can improve traceability, reduce counterfeiting, and ensure the authenticity of their products.
Robotics & Automation
Robotic Process Automation (RPA) and physical robots are transforming the way businesses operate. They can automate repetitive tasks, increase productivity, and reduce errors.
RPA can automate routine office tasks like data entry, invoice processing, and customer service. This can save time, reduce costs, and allow employees to focus on more strategic tasks.
Physical robots can be used in industries like manufacturing, agriculture, and food service, performing tasks from assembly to harvesting to delivery. While investing in robotics may require significant upfront investment, the long-term benefits in terms of efficiency and reliability can be substantial.
Augmented Reality (AR) & Virtual Reality (VR)
Augmented Reality and Virtual Reality technologies are not only for gaming. In the business world, they offer novel ways to interact with customers, train employees, and design products.
AR can overlay digital information onto the physical world, allowing businesses to provide unique customer experiences. For example, retailers can create AR apps that let customers visualize how furniture might look in their homes before buying. Meanwhile, VR can immerse users in a completely virtual environment, useful for employee training or product demonstrations.
Big Data Analytics
Big Data Analytics is the process of analyzing large and complex data sets to uncover patterns, correlations, and insights. For small businesses, this can be a powerful tool for decision-making and strategic planning.
By analyzing data from various sources – including sales, social media, and customer feedback – businesses can gain a deeper understanding of their market, identify trends, and anticipate customer needs. This can inform product development, marketing strategies, and operational improvements.
Moreover, with the rise of user-friendly analytics tools, businesses don’t need a team of data scientists to leverage big data. They can make data-driven decisions and stay competitive, regardless of their size.
Internet of Things (IoT)
The Internet of Things refers to the network of physical devices connected to the internet, collecting and sharing data. This technology has enormous potential for small businesses, particularly in areas like inventory management, operational efficiency, and customer experience.
IoT devices can monitor inventory levels in real-time, automatically placing orders when supplies are low, reducing the risk of stockouts or overstocks. They can also monitor equipment and alert businesses to maintenance needs before a breakdown occurs, minimizing downtime.
On the customer side, IoT can enhance the in-store experience. For instance, smart shelves can provide real-time product information, while IoT-enabled loyalty programs can offer personalized recommendations and rewards.
Cloud & Edge Computing
Cloud computing is already a game-changer for small businesses, providing access to high-end IT infrastructure without significant upfront investment. However, the rise of edge computing – which involves processing data near its source – is set to take this a step further.
Edge computing can reduce latency and bandwidth usage, making processes more efficient and enabling real-time analytics. For businesses using IoT devices, this means faster responses and more accurate insights.
At the same time, the cloud continues to provide flexible, scalable, and cost-effective solutions for storage, computing power, and business applications. By leveraging both cloud and edge computing, small businesses can optimize their operations and stay competitive in a data-driven world.