Small Business Technology Trends
Business owners, CIOs, and managers need to understand technology trends across small business organizations.
Some technological trends, such as the expansion of 5G mobile networks and artificial intelligence, are gaining momentum.
Other technological changes are new and still disrupting the market, but their importance is undeniable.
As an entrepreneur or small business owner, you may not be at the forefront of technology development, but technology still plays an important role in the growth and performance of your business. Given the amount of changes that have occurred in the past year, the small business technology trend will only grow in importance in 2023. While new technologies such as 5G will continue to gain traction, established markets such as user monitoring software will also have a significant impact on small businesses.
Almost three years after the first COVID-19 lockdowns were introduced, businesses around the world are still struggling to establish new infrastructure. Technology can play a critical role in reorganizing, rebuilding and promoting small and medium businesses.
In addition to researching the latest technology trends among small businesses, we asked for the opinions of some of the top tech experts and small business owners. Here are 11 small business technology trends for 2023 and beyond.
11 tech businesses to watch in 2023
In many ways, this year is destined to continue the trends that began at the beginning of the COVID-19 pandemic. However, as investments in these technologies begin to pay off, the adoption rate for many of these technologies is expected to increase rapidly.
1. Intelligence will spread everywhere.
Artificial intelligence and machine learning have been hot technology topics for years. For example, AI is reshaping the insurance industry by improving insurance pain points and creating a better user experience.
AI will also benefit from reaching the user’s breakpoint. For example, technology company NVIDIA found that implementing AI in retail stores captured 98% of theft, fraud, or human error, resulting in faster ROI. With ROI in mind, IBM found that 35% of companies are currently using AI and 42% are investigating the use of AI. That could mean more implementation trends this year, such as voice assistants, personalized customer experiences, and e-commerce chat services. In fact, AI business processes are already putting more AI into cybersecurity, CRM systems and marketing analytics. Meredith Schmidt, senior vice president and general manager of small business and strategic initiatives at Salesforce, said that while artificial intelligence may seem like something that only large companies use, companies will expand.
“AI will help small businesses provide a personalized experience to their customers by freeing up their time and streamlining manual tasks,” Schmidt said. “If you spend almost a quarter of your day on manual tasks like data entry, as our research shows, AI and automation can be a huge benefit.”
2. The deployment of 5G will happen quickly.
The business impact of 5G is significant. Adoption of 5G technology began in 2019, but the pandemic has delayed it significantly domestically and internationally. However, the benefits of adopting fifth generation mobile capabilities include faster data transfer speeds than 4G networks can provide. Also Read: 5 Important Steps that know to get amazon small business badge. According to the phone maker Huawei, 5G also promises no interruptions or delays in data transfer. Effectively eliminating latency will be a big step forward in the development of the Internet of Things (IoT), where 5G networks can support the arrival of more connected smart devices than 4G or Wi-Fi. As IoT expands, so do the job opportunities. will be open to IT professionals. For example, Ericsson Mobile estimates that the number of IoT devices deployed using 5G cellular connections will almost double from the end of 2022 to 2028.
3. Adoption of service monitoring software will continue for hybrid groups.
Hybrid and remote teams are here to stay, which means employee monitoring software is too. Although many companies have adopted these tools, expect others to join their ranks as the reality of managing remote workers has entered. Rhiannon Staples, former Hi Bob marketing director. “As such, integrated HR information systems have become critical information.”
Demand for employee monitoring tools has been on the rise since the start of the pandemic and the widespread shift to working from home. According to Top10VPN research, global demand for such software is 58% higher from March 2020 to September 2022 than in 2019. Interest in this software has grown. There is no indication that these trends will change or decline in 2023.
The best employee monitoring software can be used to get a granular view of remote employees and their productivity. When you choose work monitoring software, look for features such as mobile device coverage and the ability to see non-working work activities.
4. The remote connection will be perfected.
As more businesses embrace hybrid work models (and the potential savings that come with eliminating office space and freeing up employee time for other work), they are relying on technology to manage the onboarding process for employees. isolated. Onboarding is an important part of onboarding new employees, as you familiarize them with their role and company culture. Unable to connect with people, either because of illness or their condition, companies turn to onboarding software. “Technology that makes every step of the onboarding experience more streamlined and organized will help companies ensure that new members are welcome,” Staples said. “Companies will invest more in technology that helps people understand who is who in the company [and] learn about the important relationships they need to build outside of their immediate organization.”
5. Commercialization helps technology to grow.
In an effort to reduce costs and increase profits, major retailers have upgraded mobile marketing tools and social media to create a contactless shopping experience. Small businesses will begin to follow suit as the cost of some of these technologies becomes more affordable.Also Read:Business succession planning checklist in 6 easy steps
Mobile payments have evolved to include QR codes, mobile gateways and mobile wallets. Consumers are more comfortable with these ways of buying and paying, making them more affordable for small businesses with fewer employees.
“Mobile payments used to be an advantage that helped customers avoid long lines at crowded stores,” Staples said. “And now … they’re almost a core requirement for many retailers.”
6. Super apps will emerge as the next generation of Enterprise software.
Gartner predicts that 2023 will usher in the development and use of what it calls super apps. These tools will facilitate the integration and integration of different application functions into one easy-to-use interface. Small businesses can benefit from using these tools to organize better services for employees and vendors.
In addition, we are seeing increasing acceptance of third-party software integration. Also Read: 4 profitable steps that need for Business immigration analyst. Today, companies can use Slack to connect teams, Outlook to send important documents, Salesforce to manage customers, Monday.com to schedule tasks, and Google Drive to store company information. Data silos are a major threat that integration helps reduce and mitigate. “It’s hard to integrate software to work with other software,” said Roy Mann, CEO and founder of Monday.com. “There will be advances in integration platforms that will allow any software to connect seamlessly with any software.”
He predicts that such a connection will connect many platforms and make communication seamless. For example, he said, customer information will change across all platforms at the same time if it is processed on one platform. This connection saves the company time.
7. More emphasis will be placed on cybersecurity.
Changes in new work practices have created new types of fraud, with malware evolving in response to improved communication and growing use of home appliances.
However, this perception of risk has not yet caught on in business. According to research by BullGuard, almost 60% of small businesses believe that they are unlikely to be targeted by a cyberattack.
However, cyber security firm Check Point found that global cyber attacks in the third quarter of 2022 were 28% higher than in the same period of 2021. Last year, North America saw a 47% increase in total attacks . Small businesses are not immune to cyber attacks, as cloud security firm Barracuda found that small businesses are three times more likely to be targeted by phishing attacks than larger businesses.
Jim Lippie, CEO of SaaS Alerts, said that SMBs should start looking at security from an enterprise perspective. “SMBs, like the large companies they work with, will go into full backup and disaster recovery solutions to keep it safe, and will create new structured blocks and fight game plans to keep the business running more secure.”
8. We will see a big focus on big data.
Despite fears of a recession, business leaders are willing to continue investing in technology with tangible ROI. According to Nash Squared’s Digital Leadership Report, which surveyed more than 1,800 digital leaders, two-thirds of respondents believe that big data and analytics will provide “a competitive advantage in ‘next year.”Also Read:How to Write a Successful Business Plan: Secrets and Strategies Revealed
64% of respondents believe that using big data gives their business a competitive advantage in the field. Almost a quarter of respondents also made good money from their data usage. As big data technology and processes continue to evolve, small businesses can help use best practices and comprehensive insights to improve their own marketing landscape.
9. Companies will focus more on automation.
Automation has long been a buzzword in small businesses, but Omri Traub, founder of Popcart, says business owners are now considering workplace automation as a way to save money. money and cover problems.
“With labor shortages continuing in some areas, investment in automation will continue to increase,” Traub said. “Examples for small businesses include online pricing automation to balance profit and revenue growth, and stock management systems to ensure adequate quantities of stock are on hand.”
Looking ahead, Traub said he thinks there will be “new companies” looking to create these automated solutions. By providing this service, he said, many companies will use the cloud to ensure that the integration and automation are hot. Automation may face a headwind, depending on the changing economic situation for 2023.Also Read: A Comprehensive Guide to Business Services. The research and consulting company Forrester predicts that automation caused by data will continue to be hot during 2023. However, skill shortages may limit some other types of auto adoption. For companies with the right skills, however, automation will continue to pay off.
10. Influencer marketing will continue to be popular and targeted.
The influencer market seems poised for continued strong growth. Research group Statista predicts that the influencer advertising industry will cost $22.2 billion in 2025, up from $9.7 billion in 2020. This growth is fueled by changing consumer shopping habits, especially among Gen Z consumers, who use apps like TikTok for research and discovery.
Social media managers and individual marketing are becoming a good way to connect with customers and product presentations. Gone are the days of creating sales through traditional print media. At this time, companies must have a strong and relevant marketing plan, which increasingly includes working with influencers. Alex Shvarts, CEO of FundKite, said, “Consumers want more authenticity in their advertising, often in the form of confirmation from someone they trust, such as an activist.
Social media marketing can help you connect with your customers and create a niche within your industry. Working with real influencers (as opposed to influencer marketing scams) means understanding the needs of your business and doing your research to identify who is an influencer within the industry.
11. Media and social networks will continue to grow.
Small businesses continue to embrace social media in 2023. According to Hootsuite’s Future of Social Marketing, 83% of marketers expressed at least some confidence in the return on investment (ROI) of social media marketing. This figure is up from 68% of retailers last year, showing the continued and proven benefits that social media can bring to a business when done right.
This practice pays off. According to Rosenberg, three-quarters of American consumers have bought a product they saw on a brand’s social media. If you’re not active on social media, it’s time to start showing your brand.
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