New Technology for Business: How to Compete with the 5 Latest Tools

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By: | January 31, 2019 | Tags: , , |

new technology for business, 5 tips

Trending Tech: New Technology for Business

5 Technologies Helping Small Businesses Compete

Eada Hughes

Running a small business is hard. Most startups will fail within their first year of business, and those who don’t often have to fight tooth and nail to get ahead.

While there’s no magical quick fix, there are strategies that you can put in place to improve your chances of success. You can adopt new technologies like cloud computing into your business and give training to your employees in top cloud computing technologies like Azure training which will very efficient and time-saving.  One such strategy is integrating technology into your business model with the specific aim of improving your ROI and raising your standing in your industry.

Read on to discover five technologies that can help your small business compete.

Shape Up and Ship Out

One of the largest expenses that many businesses face is the distribution of their products. Often this requires the cooperation of many departments and external companies, and this degree of organization and management can create a serious resource drain. An effective alternative can be created by implementing freight management software. This technology helps small business by eliminating many of the less desirable aspects of distribution and streamlining the process with end-to-end support.

Up in the Clouds

Likewise, switching to cloud-based computing can offer a multitude of benefits for your business. As well as being more secure than standard systems, the cloud allows for greater collaboration and enables employees to work flexibly which has been proven to increase productivity. The transition will also afford yourself and your employees the chance to expand your skill set and by extension your business capabilities.

E-commerce

Utilizing online sales channels is something that most successful businesses are already doing, so if you’ve got a product for sale, you should definitely consider adding an e-commerce channel to your business model. As consumers are shopping online more than ever, you’re missing a fairly large portion of the market share if you’re not easily accessible. While a website will suffice if you’re unsure of your ability to operate in the online sphere, the best strategies will make use of multiple channels, including apps and social media.

[Read 4 Strategies to Squeeze More Out of Your Ecommerce Content Marketing Campaigns]

Get Social

Speaking of social media, if you’re not on it, you really should be. When used correctly, social channels can be strong marketing tools, promote brand awareness and are often the best way to foster customer engagement. Building a community around your brand is one of the best ways to stay relevant and generate new sales through product reviews and word-of-mouth promotion. Offer engaging content that adds value to your customers’ lives rather than just promoting your product, and you’ll be well on your way to growing your empire.

Virtual Home

Using cloud-based software can also eliminate the need for a physical office within many businesses. Obviously, your production space will still require a real-world location but many company structures will allow for the implementation of a virtual office. This eliminates the cost of renting a work-space; therefore, allowing you to divert funds to more profitable practices. Bonus points are applicable here if you pay your employees a travel allowance, as it will now only be necessary when they are required at a specific site.

When it comes to keeping your small business afloat it can definitely be a case of working smarter not harder. Implementing technology to help boost and streamline your business can drastically increase your chances of conquering the market and beating out the big guys. The five options outlined in this article are relatively easy to implement and, when used correctly, will provide you with the required assistance to rise above many of the challenges that cause small businesses to fold. Stay focused, utilize the equipment at your disposal to its full potential and soon your client list and profits will skyrocket.

This post was made possible by the support of our readers.

Host Blogger’s Comments:

Although this post was written primarily for digital agencies, anyone can use these tools.

Are there any tools you can recommend? Have you heard of any new technology for business you can suggest?

Readers, please share so entrepreneurs discover the new technology for business.

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Source for Dominant Photo

Photo by Lilly Rum on Unsplash

  1. Gaurav Kumar

    Hi Janice,

    We are living in the world of competition. Small businesses always find it difficult to compete with the bigger ones. Still one should use his own creativity, innovative ideas, and technology to give tough competition to the existing brands.

    keep sharing more.

    • Janice Wald

      Hi Gaurav,
      I agree with what you wrote. I find it sad the way startups struggle. However, all big companies were startups at one time. Maybe if people take these tips that bloggers like you and I offer, they’ll grow.
      Janice

  2. Kyra Rodriguez

    This is what I need right now. Thanks again, Janice!

    P.S. I like your new theme. 🙂

  3. Shruti Vaidya

    Thanks a lot, Janice for this blog. This is very useful to all those like me who are just starting up with their businesses. Throughout the world, there is a lot of buzz about online marketing. Scope in digital marketing is tremendous and hence businesses are switching from traditional marketing to digital marketing. These changes are occurring because of the rapid advancement in technologies.

  4. Tech

    Technology offers plenty of opportunities for businesses to make things like marketing and managing a team easier. But with so many different tech tools out there, it can be difficult.

  5. carry

    This information was very helpful. I have depended on the web so much to help me find information and compare important information like prices and sizes. ! Really glad there is a safe option like this around. But the use of it very harmful for the health.it company london

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