The year is gradually winding down and some companies are already setting out plans for next year that will position them ahead of their competition. Whatever plan it is, business owners must make adopting the following easy-to-use tech solutions as the number one plan for 2023.
Interconnected management Software
The world is changing at a faster pace. The idea of having employees working from anywhere but the office was as rare as the purest form of a diamond. At the moment, 16% of companies globally are fully remote according to a study by Owls Lab. This shows that remote work is increasingly becoming the most preferred form of work lifestyle by workers, and to stay ahead of the curve in 2023, more companies will need to embrace flexible work-from-home schedules for their employees.
To achieve this new form of work culture, companies must adopt the right interconnected management software that can connect seamlessly to their employees’ digital workspaces to provide a comprehensive and integrated look at all aspects of the business.
Customer interaction management platforms, for instance, can help keep track of the apps a company use for emails, online chats and phone calls as well as any client notes or profile updates it makes during those interactions.
Having that management tool accessible from the same hub with inventory tracking apps and human resources software means that the company can log on to the same platform for a quick update or to complete a specific task in each area.
One technology that will give you the edge in a race against your competitors in the coming year is the use of Artificial Intelligence software for your business. In 2019, Startup companies using artificial intelligence received more than $7.4 billion in funding. Also, according to Gartner, technological research and consulting firm based in the U.S, the number of enterprises using AI in business grew by 270% between 2015 and 2019.
These stats show how crucial it is for businesses to adopt the use of AI software for a few of their business processes including sales and customer relations to easily track customer behaviour and provide accurate insight to make better and more informed decisions. Small Businesses may even employ kiosks to help customers with purchases or to answer any questions they may have with a product in the future.
As for Larger businesses and corporations, AI is usually used differently. Automated robots are being introduced to the workforce with programming to make calculations, such as redirecting harvesting equipment on farms for greater yield.
Inventory and Management and Analytical Tools
Improper inventory management can lead to overorders and cause issues with cash flow. While business owners may not immediately jump to inventory management as a major need, it’s crucial to have a dedicated system for tracking which products are going in and out.
This has led to the creation of software built specifically to track inventory for small to medium-sized businesses.
For greater insights into which products are doing well and which need to be revised or marketed better, a program that analyzes inventory can make a huge difference for a business unaware of how well a product is selling. Thankfully, there are plenty of applications that have been created for this, such as…
Inventory management software often offers integration with other software to provide business owners with a better sense of where they can improve. This information can include which payment method is most popular, which products may be underperforming, and when transactions seem to reach their peak. This type of data lends itself to helping companies perform better, even if they’re small and only selling a few different products.
Financial management tools
Keeping track of your business’s finances is critical for success next year and beyond. Investing in accounting software early on allows you to continuously monitor cash flow, track expenses and manage employee payroll.
QuickBooks remains a popular option for small business owners due to its ease of use and scalability, while entrepreneurs with simple billing can turn to free software such as Wave.
Most businesses utilize a network connection to some degree, be it internal data storage or an online point of sale system. While larger corporations often have complex data security systems in place, small businesses can also fall victim to a cyber attack if they do not take steps to protect themselves.
Setting up cybersecurity software early in your business can protect the valuable company and customer data. A great place to start is purchasing antivirus software, which guards computers and networks against viruses and other malicious attacks. You may also consider purchasing a business VPN to ensure only authorized users can access your network.
Regardless of which specific tools you in the future, having the right technology in place will allow your new business to get off on the right foot toward lasting success.