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The Vital Importance Of Technology To Small Business Growth

For small businesses to grow, it is increasingly vital to have technology support. Understand how to optimize your processes and have an even better return on your business, regardless of its size.

It’s not news anymore! Increasingly, there has been talk about digital transformation‘s role in optimizing operations, competitive advantage, and growth of organizations. However, some companies, in short, small companies, still believe that access to new technologies is a benefit only for large corporations, which is far from being a reality. 

Indeed, many have already felt the transformative potential of technological resources aimed at different areas and needs. 

Thinking about contributing to business in this sense, we have developed this content. Check it out and learn about some solutions and the advantages of being part of the digital age. 

How Can Technology Improve The Operational Efficiency Of Small Businesses?

In the most diverse ways! To begin with, imagine that your business can hire specialized support without increasing staff. This is because technological tools perform a series of tasks that, until then, were done by human beings. 

These can be done automatically from manual activities, such as filling out spreadsheets and updating inventory, to data management, performance monitoring, and customer relationship actions. 

In this scenario, the more tasks delegated to systems and software, the more time the team has to think strategically, focusing on the core business. 

For this, solutions such as management software, including CRMs and ERPs, cloud computing, artificial intelligence (chatbots, for example), virtual reality (VR), augmented reality (AR), and automation can be used. 

With the changes in work models, finding several resources that enable online collaboration, whether between face-to-face, hybrid, or remote employees, is possible. 

Generally speaking, the results are better work done and a better customer experience, reflected in growth and increased profitability.

How Technological Resources Make It Possible To Reach A Larger Market Space

Another critical point of the use of technology by small companies is the increase in reach thanks to Digital Marketing strategies, Inbound Marketing, social networks, Search Engine Optimization (SEO), and presence in marketplaces.

Being in the digital environment is possible and essential to attract, conquer and retain customers. This happens through a better understanding of your needs, interaction, support, and more. It is also worth mentioning the increased visibility due to multichannel presence. 

Other advantages are measuring results from automated reports, the possibility of segmenting and reaching the public at any distance, audience generation, and an excellent cost-benefit ratio, even though many resources are free.

Increasing Productivity And Competitiveness

Adopting technology can also improve employee productivity and allow small businesses to be more competitive in their industry. In practice; it contributes to points such as:

– increased efficiency, as the company reduces bottlenecks, errors, and failures; 

– more agility by reducing operating time, making the transition from manual to digital processes;

– cost reduction, as time and resource waste is reduced or eliminated;

– optimization of decision-making, using data analysis to make them more assertive;

– generation of autonomy because there is more time for planning and strategy with less involvement in operational functions.

Some examples of tools that can be used to increase productivity are task management applications, communication, and data analysis software. 

Overcoming Challenges And Limitations

A Microsoft study was developed to understand the challenges and opportunities of small businesses after the health crisis and the vision for adopting new technologies.

Aspects such as remote work, HR, Digital Marketing strategies, and the ability to reinvent business objectives were involved.

The research pointed out that, for 78% of the companies, adopting new resources would be the most straightforward change for the resumption. Another relevant data is that 73% of them said they were ready to face the challenges of Digital Marketing, and 71% would be prepared for processes related to remote work. 

In addition, communication and relationship with customers were one of the main changes made by the companies surveyed: 75% of them implemented some change in social media, followed by improvements in websites (54%) and customer service channels (51%).

This shows that many businesses are already following some paths that will lead them to remain competitive and grow. On the other hand, there are also some concerns about adopting new technologies, including costs and the learning curve. 

To begin with, it is best to venture out more discreetly and solidly, prioritizing the most critical demands and gradually implementing solutions in that order.

Also Read: Social Networks In Business: New Channels For Doing Business

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Techbuzzupdate is a globally recognized tech platform that publishes content related to various aspects of technology such as digital marketing, business strategies, reviews on newly launched gadgets, and also articles on advanced tech topics like artificial intelligence, robotics, machine learning, Internet of things, and so on.

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