5 Technology Trends that Will Revolutionize Small Businesses

Last Updated May 6, 2020 | Published on Jul 1, 2019 | Small Business

The first days of the new 2020 year have gone, and holidays finally ends, it’s high time to start to work hard and think of the digital strategy for your small business. So, if you want not only to stay competitive but to build trust, enhance customer experience and increase revenue, then this article is what you need to read for sure. Here we’ll review five technology trends 2020 that are going to transform small businesses shortly. Are you ready for the tech revolution? Let’s check the top requested solutions to implement into your project to give your business a boost.

Top tech trends to watch in 2020

The previous 2019 brought lots of breakthrough solutions on the market. However, some important changes in the digital world are expected to take place this year that will revolutionize the way businesses and consumers, developers experience technologies that evolve rapidly.

Thanks to the tech revolution, there is a variety of tools and solutions on offer. Anyway, which of them will revolutionize small and medium businesses and be worth of investments this year? Below we have provided the list of five emerging technologies to watch in 2020. Look through it to find out why small businesses should focus on them to be more productive, effective and successful.

A complete mobile experience

Only a short time ago you were advised to go mobile. The time goes by, and today being mobile isn’t a recommendation, but a must-have. Without a native application or at least a responsive and adaptive version of the website, you can’t stay competitive. Lots of small and midsize businesses leverage mobile marketing to meet user demands and improve the customer experience.

Nowadays consumers don’t want to search for a credit card when their phone is always in the hand. In-store mobile payments alongside online mobile payments are not news, but common things nowadays. And that thanks to GPay, Apple Pay, One-Touch alongside other suchlike apps and solutions appeared on the market.

Artificial Intelligence as a Service

Due to the statistics, the total global revenue for AI technology is expected to grow up to $118.6 billion in 2025. AI technology has already transformed lots of industries and can be used in different ways to solve lots of tasks. AIaaS (Artificial Intelligence as a service) is the next agile solution with a bright future.

Actually, it’s basically a third-party offering of AI outsourcing that allows you to receive the advantage of the technology without extra costs and at the same time lower risk involved. Therefore, AI implemented in your small business gives you an ability to outsource tasks and results in higher productivity, efficiency, accuracy. Herewith, it’s not surprising that more and more small and midsize businesses will invest in the tech trend in 2020.

Data analytics

Customer data is extremely valuable for enhancing the user experience. That’s why it’s critical to collect as much information as possible to learn your customers for providing more personalized service and offers. However, what is even more important it’s to analyze all the data gathered correctly and accurately to reach the stated objectives.

In case you haven’t the right tools, it can be a true challenge to sort out and go through the amount of detailed information. Take it easy, due to the sophisticated tools adopted and cloud-based cognitive services used, it’s more than just possible. More small businesses are going to utilize the solutions to inform the strategy at the granular level in 2020.

Cyber security

The rapid progress of the digital world makes our life and business dealings much easier and effective. Technologies evolve, but hackers and threats are also on the lookout for innovations and changes. That’s why it’s crucial to invest in your security. And the size of your company doesn’t matter here. Not only business owners, but the users mind the safety aspect.

Online banking, telemedicine, and other cloud-based apps, websites gather a great number of sensitive and personal information. It’s critical to protect the data shared from the frauds, misuse, and stealing. Thankfully, there are lots of cybersecurity tools and advanced solutions to implement like blockchain to eliminate the risks of the data leak and/or DDoS attacks

HR technology

Today everything becomes more and more automated, and lots of things can be done by means of the apps and robots. However, such technologies can’t replace the human totally, at least now. That’s why the success of your business depends on your employees and the good team gathered.

Therefore, you should pay attention to the choice of each member seriously. Due to that, Human Resource software solutions become a must-have for organizations, because they provide real-time data for decision-making and create a better overall experience for staff. HR technology can help you with:

  • recruitment;
  • onboarding;
  • employee engagement;
  • ongoing training.

Today there are lots of variations of such systems like HRIS, HRMS or HCM. They are ground for the programs widely used over the globe in various companies.

So, let’s sum up. AI-based apps, cybersecurity solutions, data analytics tools and other technology trends mentioned above are key but not the ones to focus on in 2020. There are also multi-cloud, 5G, chatbots, blockchain and other suchlike techs that are going to impact small businesses, medium-sized and large enterprises.

If you crave to stay competitive, increase revenue, improve user experience and want your company and employees to be effective and efficient, then there is no way but to digitize. All left to do is to make the right choice and implement revolutionizing solutions that suit your needs. Estimate the key features of the solution you wish to get for helping your employees to do their best, solve certain tasks on your way to achieve the determined goal. 

 

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