It can be daunting to embrace tech as a small business. Between the cost to implement it combined with training employees on how to actually use the technology, it may feel like you’re only adding more work to your plate, but don’t be fooled, embracing the right tech trends can save your business in the long run. Besides, as we’ve seen time and time again, if your business is not keeping up, it will fall behind.
Digital Wallets
According to a Capital One Shopping Research Report, in 2024, there were 61.3 million Apple Pay users in the U.S, making Apple Pay the most popular digital wallet with a 92 per cent market share. Additionally, Apple Pay processed 14.2 per cent of all online consumer payments. Businesses should integrate Apple Pay as a payment method in their point of sale systems and online payments to ensure they don’t miss out on customers who prefer to pay with their digital wallet.
Cybersecurity As a Precaution
Given the recent increase in cyberattacks, businesses are adding software like Endpoint Security to safeguard their devices, and analyze files and system activity to detect suspicious behaviours. Businesses are also adding password managers to stay secure.
Utilizing AI
In a small business, employees are already wearing multiple hats. Why not embrace AI to lighten your workload so that you can focus on more pressing tasks? AI tools can be used to summarize documents or meeting notes. They can also be used to kickstart your creative brainstorm. AI Chrome extensions such as Loom work well for these purposes, and you can’t go wrong with free tools such as ChatGPT or Jasper AI. Be mindful of going too far in the opposite direction and relying on AI too much. Businesses should ensure that employees are giving all their work a final review after using AI. Afterall, it can make mistakes, or it may not correctly capture the sentiment from a conversation.
Implementing E-Commerce Chatbots
The most efficient way to nurture your leads is to provide customer support around the clock. Who has time for that? No one. That’s why your business should be setting up a chatbot on your website. A chatbot can converse with your customers through predefined conditions, triggers, and events during their customer journey. The reality is that prospective customers want immediate responses, and if you can’t give that to them, what’s stopping them from moving on to your competitor who can give them a reply right away? The good news is that when customers use a chatbot, approximately 90% of their queries are resolved in 10 messages or fewer. The research indicates that chatbots are indeed effective and worth implementing.
Employee Monitoring Software
For remote and hybrid companies, small business owners can monitor employee productivity by implementing software that tracks how much time is spent on projects, which websites an employee is accessing, messages being sent, etc. An employee monitoring software package can be beneficial to implement for individuals who are working with confidential data or information. By monitoring their use, it can track and detect when they are saving information or using it in a malicious way. According to Business News Daily, there is software available for webpage, applications, live chat, email, or keyboard monitoring.
Choosing Cloud Computing
Traditional ways of storing data have evolved. Even before 2020, businesses have been choosing cloud computing instead. At the startup level, it’s a better idea to use cloud architecture in the long-run, especially when storing large volumes of data. Cloud services don’t tie your employees to a certain location, and they can be accessed on any device. Data loss can be a major threat to any organization, but with cloud backup businesses can recover their data quickly.
The Edge Team | Staff Writer
