How Can Small Businesses Save Time & Money by Adopting to New Innovations?

Companies that wish to grow and adapt to changing times cannot afford to be complacent or traditional. Getting ahead in the market means innovating the way business is done and striving for efficiency. For a growing business, profits come from disruptions. The objective is to become more productive and cost-effective. Digital transformation unlocks the path to change.

Changing the culture

The legacy system perhaps works fine and gets the job done. However, it does not tap into a company’s full potential. You start with employees and share your vision. Then you create an environment of learning and embracing. New technology means stepping out of everyone’s comfort zones. But, it is only a matter of time before people see the benefits.

The key to continual learning and thinking ahead comes from a positive attitude. New technology could be fun to learn or tricky, depending on how it is perceived and presented. For instance, mortgage companies can shift to a virtual platform and notarization using e-signatures. It saves time and effort required to travel. The entire process concludes in a matter of minutes, and notaries can close more cases in a single day. New technology is an investment and it best not to integrate it with the traditional system.

Make changes appear natural

Here are some pointers that can help you and your employees embrace change and find your level of comfort –

• Collaborate with your IT team before adopting new technology to understand how it works and its scope
• Introduce additional training sessions and classes for employees so that they can navigate their way around the tool or technology
• User experience is critical for your new acquisition as people are naturally attracted to easy to use applications.
• Collect feedback from users and engage in improving the tech
• Arrange informal sessions and implementation events where training combines with socialization
• Measure the impact and ROI to evaluate how the new technology is performing and use that to keep the momentum of change rolling
• Ensure your solutions vendors, marketing teams, and IT department work in tandem for more robust and accessible solutions.

What is trending in digital technology?

Before we name any particular tech concept, it is essential to note that innovation is never exhaustive. It would help if you always explored new technologies that can benefit the company revenue and employees. Here are some of the top emerging technologies worth your money and interest –

1. Cloud Computing

Traditionally, companies data stored in servers located on-site. Cloud servers enable Customer Relation Management (CRM) software, accounting software, automation, and office applications online. It saves costs for infrastructure, and operation costs depend on usage. Cloud computing also provides remote collaboration tools, as employees can connect and access data virtually from anywhere.

2. Virtual Collaboration And Communication

Physical traveling requires money and energy. It becomes even more daunting when there is an ongoing pandemic in the world. Small businesses are shifting to remote online notarization using e-signatures to complete transactions virtually. The parties confer over video conference in the presence of a notary. The whole process is faster and more secure overall. A notary can also complete more closures in a single day.

3. Social Media

Marketing has also evolved over the years, and we have moved ahead of newspaper ads and TV commercials. Companies stand out with a robust online presence. Facebook, Instagram, YouTube help promote your brand name and reach a broader audience that is not necessarily local.

4. Open-Source Software

Businesses can use free, customizable software for their purpose instead of fully licensed commercial packages. We have OpenOffice for documentation and spreadsheets and Sugar CRM as an emerging free customer management platform. Moreover, Linux provides an entire operating system at no expense! Apps also come in a freemium version. You have access to particular features for free with additional functionality at an added price. It helps you allocate budget more wisely and only for what you need.

5. Big Data Analytics

The modern consumer economy generates volumes of data. Companies need to have a grip over their market to excel, and for that, they need to analyze trends. Big Data Analytics refers to studying and finding patterns in large amounts of data and predicting upcoming trends and customer behaviors. It also helps you provide a personalized experience to your users.

In Conclusion

Other notable mentions are artificial intelligence, machine learning, mixed reality, etc. Your digital transformation depends on what you need and the scale. Some changes are more immediate than others. But as long as it benefits the company, it is worth spending time and capital. Gain insight into the market and technology through online portals, blogs, articles, and forums. New technology can save time and energy, ultimately helping you boosts revenue and takes your business to the next level.