Exclusive Article by Lindsey Patterson at EMRIndustry
Running a successful business and keeping track of the emerging technologies that can help improve your business can be a daunting task. Some technologies may be overrated while others can genuinely improve your business performance. There are technologies that can increase your profitability, cut costs and change your business productivity. Read through this article to discover technologies that can improve your business.
Communication and Virtual Workplace Software
Communication has never been easy like it is today. This has been made possible by technology, and this can improve business operations tremendously. These services include Facetime, Skype and full Voice over the Internet commonly referred to as VOIP. These technologies reduce the cost of doing business especially if your team is spread across the globe. Other than using apps to synchronize with the office communication system, these technology requires no initial investments when it comes to hardware. Other benefits that businesses can get from using this technology is advanced call screening and virtual receptionists. This, however, comes at a small fee but considerably small compared to hiring humans to offer the same services.
A substantial amount of capital goes to renting an office space nowadays. However, technology is working hard to solve this dilemma by providing programs that allow collaboration of your team whenever they are. Such program includes Zoom and Slack, and they offer video conferencing. This not only saves you money but also saves time for you and your business. Other technologies that can offer the same services include Trello and Basecamp.
3-D printing
3D technology is changing the way businesses used to develop products in the past. Its effect is mostly felt in the manufacturing industry that designed products using traditional manufacturing methods. While eliminating limitations, 3D technology is helping businesses create products that never existed. These new products look like Mother Nature’s creations and are more organic. 3D printing is known to reduce the labor costs associated with manufacturing. If a product is to be altered, retooling won’t be necessary, but it will require a small change of the instructions fed to the software. 3D printing will, therefore, improve businesses by transforming the pricing strategy, save material costs and will lead to the reduction of incremental unit cost for your business.
Cloud Computing and Big Data
Satellite technology is the big force behind Big Data and Cloud Computing. These two technologies are improving business operations in many ways. Cloud computing allows the storage of data in a centralized database that can be accessed using an internet enabled device from any place on earth. Cloud computing means that your workforce can work from anywhere as data is readily available and communication with other team members is also guaranteed. Big data, on the other hand, is very useful in improving your business when it comes to making consumer decisions, predicting demand and identifying trends in the future. Some of the technologies that have proven successful when it comes to big data include Google Analytics, ClearStory Data, and InsightSquared.
Risk Management Software
Technology has helped create risk management software that can be used to deal with customers and staff in regards to their trustworthiness. Moreover, this technology can also help a business determine who has access to its data. With technologies such as BehavioSec, it’s possible to analyze what your staff is typing or even their mouse movements. This system can even alert you if there is a stranger logged into your system. Another software that can offer the same services is Duedil.
Cash Management Systems
Technology has helped launch cash management systems that can improve your business significantly. For businesses operating across borders, there are pretty of systems that can help them connect with their business partners elsewhere on the globe. An example of such a technology is the Wu Edge by Western Union.
While it’s not possible to tell how technology will improve your business, it’s important to keep track of the emerging technological advancements. Other than the technologies mentioned above, there are other technologies that can boost your business significantly.
