Take the leap over your competitors with the promising technologies
The last decade has witnessed several changes in how the business is done within the small and medium sized businesses SMBs. These fundamental changes are mainly due to emerging technologies that have also influenced the economic and regulatory shifts. Some of the most important technologies that are transforming the SMBs are Information Communication Technology ICT, Artificial Intelligence AI, Augmented Reality AR, Virtual Reality VR, Robotic Process Automation RPA, etc. Questions are; How SMBs can make the most of these technological advances? How SMBs can better adapt to the given changes and market shifts? What makes the SMBs competitive?
With limited resources in SMBs it require proper understanding of the goals as there is only limited room for experiments. It might be challenging for Canadian SMBs to choose the right tools in the ever-shifting world for maximum benefit. Since, there are never-ending challenges it is difficult to predict the future without sufficient knowledge of the benefits associated with the technological implementation. Looking through the crystal ball following factors determine how the Canadian SMBs can be succeeded.
Make the Big Out of the Big Data
Drives in the digital environment made by users can become valuable data for some companies. Enterprises run over a lot of data known as big data. This may include all the system’s data such as the website visitor’s data or customer form filling. Social networks, business records, financial activity, can be used to better know your customers. From some analysis it is possible to understand the buying behavior, predict future crises in the sector and even migrate from customers to competitors.
All these mechanisms are part of the big data process. This is one of the new technologies that can affect the market the most. The impact can be great in both the commercial and the personal spheres. Some devices are already able to do this data collection. The big data acts as a two-way street. The user provides the information and in exchange the systems can offer better performance from these data.
What is currently occurring is customization of applications and services. In this way it is possible for marketing sectors to set up more effective strategies focused on customer loyalty. Thus, we can identify 4 pillars that represent, in general, the big data:
• Focused on the processing of structured and unstructured data, as well as on the correlations and discoveries that may arise from this processing;
• It analyzes what already exists and what is to come, pointing out new paths;
• Ideal for exploring new possibilities, discovering new patterns and exploring questions that have not yet been asked;
• Wide, geared not only for business but for any area/ segment such as health, entertainment, education.
• Possibility using new technologies
Implementing the Internet of Things
The Internet of Things (IoT) has gained more and more space in the world market. According to forecasts by Gartner, there will be about 20.4 billion connected objects by 2020. It’s only 3 years until the market reaches $ 3 trillion in revenue. IoT is already widely used, especially in large companies to reduce expenses and increase productivity. This practice increases the competitiveness of organizations adopting this technology.
The use of the Internet of Things is ample and SMBs should use it as well. Among the possible applications of this technology is the ability to monitor products that have already been sold. That is, this allows the consumer to receive notification when they need to exchange a particular part and still ensure that you have it available in stock.
The internet of things will not only be used in business, it will also be present in our lives. Be it on our smartphone, smartwatches and even in our residence. When we talk about this type of technology, the improvement in the user experience is at stake. Offering practicality to its consumers is a key factor in achieving success in any market.
Making difference with Best Applications
Smartphones are part of our daily lives to the point of functioning as true extensions of our body. We use our cell phones to buy, search products, communicate, have fun, get around and more. With that in mind, companies cannot ignore this trend. In 2019, no matter what is your business, you need to optimize your strategies for the mobile. Make your site and app responsive to display on smartphones and tablets. If you can, also bet on creating apps related to your business and product.
Currently the Apple App Store already has 1.8 million apps in its library, while Google Play has 2.3 million. These data show how applications are one of the new technologies most used, both by users and by companies. In the current market the number of companies with applications does not stop growing and the advantages to investing in this technology are endless.
Nowadays, it is possible to use applications to get around, order food, buy tickets and even get an online health consultant. Consumers like to use the newest of the mobile apps, especially if the app uses technology they are familiar with in daily lives. Having an application from your company has become synonymous with time optimization, branding for your customer and new users, as well as practicality and economy.
You must be thinking that developing an application is no easy task. But a good alternative for those who do not have an internal team for the service or need more agility in the delivery, is to count on specialized companies. Invision Solutions work on the android and iOS apps, carry out the work in an agile way and with accessible budgets.
When creating strategies and marketing campaigns, also remember that they need to be optimized for viewing on mobile devices. With a good investment in technology with us, your business will be ready to be in palm of the hands of consumers next year.
ERP eliminates the various worksheets by unifying data and processes, managers have more control over information, can predict scenarios, and thus amplify their decision-making power. Reason for headache in companies of all sizes is due to tax system are really complex. This is why all sizes of organizations need to exercise fiscal security daily. ERP offers the control system integration and automation that potentially reduces the chance of failure as well as prevents rework in context of excessive expenses, fines and tax authorities. Thus, also reduces dependence on third parties, as accountants (i.e. worth thinking about cost-benefit).
ERP creates work unification and prevents the frauds or information losses as the single system is working throughout the organization. A company may exceed its security with the ERP system in cloud infrastructure, as the vendor is responsible for the maintenance of the system. Using this type of tool makes your company gain in efficiency, agility and, even more in safety. There are a number of advantages to using cloud technologies. SMBs can celebrate as you do not have to invest too much to take advantage of these technologies. Reducing costs and optimizing productivity is the combination of dreams by reorganizing business processes, automating day-to-day operations and improving accuracy in tax calculation, the company gains operating cost savings.
Your company will gain much confidence with cost reduction, information management and security, synchronization and standardization. This essentially has a positive impact in the performance of your company, your service or product quality, people management, and competitive advantage over the counterparts.
Offer Automated Services to your Customers
Another important point in which companies can optimize and become more efficient is in service. With consumers becoming more empowered and demanding, it remains for entrepreneurs to find ways to communicate effectively, quickly, in the moments and channels that their client chooses.
Today, luckily, it is already possible to make this service to ask questions, listen to complaints or negotiate with the customer faster and faster. Moreover, it is possible to automate all or a large part of this communication.
This is possible through tools such as Chatbots, for example, that are “robots” that simulate conversations with their consumers. Chatbots tools are now available and can be used by any type of company to serve customers.
Boost-up your Campaign with Digital Marketing
Marketing is one of the areas of the companies that have undergone more transformations from the technologies. Increasingly, marketing needs to be done intelligently, quickly and focused on results. That’s why digital marketing came about. Digital marketing marks the shift in corporate communication and media strategies, now using online media to promote brands and products.
An important advantage of this marketing modality is that it can be quite automated, from its own tools to organize and operationalize the work. Look for tools that trigger email marketing campaigns, manage leads and customers, and work toward automated customer loyalty. The benefits will be valuable when it comes to publicizing your brand and what your company sells. Digital transformation is not something from another world or a very complex operation. In fact, as we have said, it only requires a change of posture and a small push to start delivering results for your company, regardless of size.
Revolutionize your Financial Management via Digital Systems
Imagine bringing together the best advantages of each of the above technologies in one of the areas that require the most care in your company. Agility, efficiency, error intolerance, practicality to use and low investment. This is what financial management software can offer your business.
With technologies like this, your financial management can be all centralized in a single tool. With a management software it is possible to track accounts, track inventory, suppliers and gather in one place all the information to properly manage your business.
With all the benefits that each of these technologies provides the gain for your business can still be much higher. You can leverage data and engagement using big data, IoTs, and especially applications to improve your business marketing.
Large retailers, malls, movie theaters, and street stores install these new technologies to learn by monitoring behavior and intentions and offering better deals to customers. With this information you can think of a marketing strategy. Crossing the data collected with big data to those received through other technologies, thus creating an ally to send offers, ads and information directly to the customer’s cell phone. If you know other new technologies that have not been mentioned here, leave it in the comments. So we can learn together about the market.
Not surprisingly, technologies have been great allies of companies. Increasingly, technological advances offer solutions to facilitate day-to-day management and tasks. For small and medium-sized businesses, the scenario is even more positive as the more technologies come up, the more they become accessible to all types of businesses.
Thinking about the new year coming, it’s time for Canadian SMBs to prepare for a more intelligent and efficient future. Citing all these advantages may be hard to believe, but you can trust the technologies with the most potential to boost your business in 2019. If you are convinced and want to know more, or if you still need information to ensure the power of factors in success of your company, we have the solution.
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