5 Technology Trends For Small Business in 2021

Small businesses are significantly affected by the COVID-19 pandemic. A lot of companies have to adopt remote work policies. In these circumstances, it is critical to maintain and implement a variety of technology solutions to prepare businesses for future challenges. A lot of small businesses are stuck in the last decade and think they don't need some improvements. However, the pandemic has shown that no one is prepared for future challenges. Therefore, to survive, all companies must modernize their businesses. In this article, we'll cover the major technology trends that will be especially relevant to small businesses in 2021.

Building a Stronger Online Presence

In 2021, with many people joining the digital space, it's almost impossible to stay offline. Growing your business requires you to have a strong online presence. Whether it's a website or a social media page, you need to let the world know that your business is alive and following trends. Your online presence gives you the opportunity to build your brand and attract new customers online. Your potential customers will also benefit from learning about your location, products and services. Moreover, with an online presence, you can consider increasing your audience because your site will be accessible from anywhere in the world. It will also be easier for you to provide 24/7 service when your business is online. You can get managers from any time zone, while increasing customer satisfaction. Thus, an online presence is a must for current realities as it can provide a significant boost to your company, attract new customers and improve customer service.

Cybersecurity

The importance of cybersecurity should not be underestimated. This is a critical area for most businesses. Many companies store their vital data online and would like to keep it secure. This issue is becoming more and more urgent as their online presence grows.

Also, given the unification trends, when several processes in the same company are controlled by a single application, sensitive data becomes even more vulnerable. According to the IBM report, the average cost of a data breach is estimated at $3.86 million.

This is a significant amount, especially considering that it is not that difficult to prevent this breach. However, some entrepreneurs believe that they are unlikely to fall victim to cyber attacks, and yet all businesses are vulnerable to hacker attacks. To keep your company secure, you need to check your app updates regularly and make sure your point-of-sale data is secure. It is also important to maintain employee knowledge of malware and phishing. These simple steps will greatly improve your cybersecurity, and if you need more, you can hire a subject matter expert.

Focus on Data and Analytics

Many small companies believe they don't have enough data to generate reports. However, to start with, it's enough to track transaction history, social media activity, and visitor traffic. You can use this data to make some predictions, strategize and make your business more productive. In addition, B2B companies can analyze their customers to identify the most valuable ones. Once these customers are identified, companies can focus on them and scale their business model based on this data. Special software should be used to facilitate data collection and analysis. There are many software solutions on the market today that provide comprehensive approaches to data collection, analysis, and forecasting. This provides ample opportunity to grow your business as well as understand industry trends.

Human Resources Technology

The COVID-19 pandemic has dramatically changed the way companies do business. In particular, this affected issues related to the work schedules and the use of human resources technology. This area has always been less tech-savvy than others. However, companies with remote workforce are implementing various HR software to track employee performance and gather their feedback. The pandemic is forcing companies to look for more sophisticated solutions, not just a record-keeping system. Such sophisticated software automates HR processes and creates a complex ecosystem for the entire company. This software not only allows you to solve tasks related to COVID-19, but also to get ready for upcoming tasks and make the HR process smoother and more efficient. HR technology is closely related to the employee onboarding, and in this regard, it makes sense to develop a specific learning analytics platform. Not only will it enhance employee onboarding, but it will also create a centralized system that will be able to analyze your business performance.

Remote Work Tools

As more and more companies move their workforce to remote work, there is a need to track their performance, gather feedback, hold meetings, and more. That's why remote work tools are appearing. For example, if you need to set up a video conference, you can use such software as Zoom, Skype, Google Meet, and many other tools. There are also many software solutions that allow you to monitor your employees, manage communication. The ability to quickly approach a colleague on any issue is vital to the overall team productivity. What's more, technology solutions allow you to combine communication systems, onboarding systems, HR software, performance management systems and more into one solution. So, remote working tools are a must for today's businesses, even if you manage to stay offline. It's best to learn about these solutions in advance.

Bottom Line

It's safe to say that small businesses will face a lot of challenges in 2021, and they need to follow market trends to stay on top of the industry. Generally speaking, this means improving the online infrastructure along with implementing and adapting new mechanics aimed at working remotely.

Online activities are crucial this year because technology will significantly change the way we are used to doing business. IoT, AI, and many other technologies will change the world of technology. You need to prepare your business for these challenges in advance.