In 2020, there were approximately six million small and medium-sized enterprises (SMEs) in business throughout the United Kingdom. That number speaks of the robust nature of the industry. Many people are becoming more confident in investing in SMEs. Gone are the days when only those armed with a business school degree have the chutzpah to put their saved money in an entrepreneurial pursuit.
That trend has something to do with technological tools at the disposal of aspiring entrepreneurs. These tools offer many opportunities to streamline business operations, minimizing system glitches, and maximizing competitive advantage.
If you are managing a business, it’s in your best interest to exhaust these technological tools’ benefits. Here are some of them.
Your business needs to issue receipts. It’s high time you stop relying on receipts done manually. Although that does not take too much time, those minutes your staff devote to writing receipts do add up. They could be doing something else.
This is where a thermal printer comes in. And you cannot go wrong with the brand called Zebra. With 50 years of thermal printing innovation under its belt, Zebra has become a trusted partner for SMEs. These printers are quite durable, and when the time comes that they become faulty, you can rest assured that there will be a Zebra printer repair provider close by.
Automation and artificial intelligence
When you hear automation and artificial intelligence, you probably think it’s for big-time businesses that require advanced technology to streamline their processes. However, that is not the case. These technological innovations have something to offer to SMEs too.
Consider administrative tasks like record keeping. You likely have an employee doing that job. With automation, that employee can do something else that requires a human touch. You get to exhaust your employee’s labor potential. Meanwhile, you can rest easy that the utmost accuracy is observed since a programmed robot is in charge.
Customer relationship management (CRM)
Management of customer relationships should be a top priority for all businesses, big or small. This is where CRM comes in. It is a cloud-based software that promises an array of benefits to SMEs. Those include revenue growth, lead conversion, and customer retention, among others. With the help of CRM, you get to minimize marketing costs as well. It’s essentially a marketing tool unto itself.
There is a variety of CRM software you could choose from. Some of the most noteworthy include Salesforce, Zoho, and Insightly. Pick the one that’s most flexible and compatible with other technology.
New cybersecurity tools have ditched reactivity for proactivity. That is a welcome change for businesses, especially those with an expansive online presence. Keep in mind that your online presence puts you at risk of falling prey to hackers. That’s enough of a reason to buff up your cybersecurity infrastructure.
These days you can get your hands on cybersecurity tools that allow automated security response processes and risk-identification algorithms. These innovations get you to anticipate threats before they come. And once they do come, you’ll be able to respond in real-time, too, thus minimizing losses and system failures.
Payment processing tools
There is nothing more frustrating for a customer interested in buying something, whether from a physical shop or online, than reaching the checkout counter and realizing their preferred payment method is not supported. That reflects poorly on your business.
You may solve that problem by introducing a variety of payment processing tools. Consider online payment gateways linked to PayPal, for example. Always make sure your credit card terminal is working at its best. Another source of frustration for customers is checking out a cart from an online shop to be redirected to a message about system failure.
This list by no means exhaustive. As you already know, technology evolves fast. New tools are consistently introduced in the market, and they boast all sorts of promises. Always be on the lookout for these products. One of them might be of great help in steering your business in the direction of sustainable success.
Do not be afraid of technology. Even if you are not the most tech-savvy person in the room, do not deprive your business of the advantages to be had from tech tools. To ensure that you get the most out of them, have a tech expert on your team. Depending on how big your business operation is, you could do it with either a one-man tech team or a pool of experts. Either way, clearly outline your expectations so that no efforts and money are wasted.