7 Innovative Technologies To Transform Your Business In 2021
Take the time to imagine how businesses are doing today compared with those from a decade ago in terms of operations. There’s no denying that there are now many changes in place brought about by technology. In fact, it may now be hard to imagine a world without the technological advancements in place to smoothen out and streamline the business.
Fast forward to the present, there seems to be no stopping technology from evolving. As new advancements and innovations start to come in, it’s not surprising that moving forward, newer and more innovative technologies are going to dominate the business industry, which can help shape and transform businesses for the better. Think fax, computers, software, and mobile apps, among others.
To give you ideas, here are seven innovative technologies which can help transform your business in 2021:
1. Remote Working And Video Conferencing
Remote working arrangements with companies aren’t an entirely new thing. But given the challenges the world has faced last year, remote working has suddenly been thrown into the spotlight as one of the most favored working arrangements both from the businesses and employees’ side.
While the transition may not have been easy, once businesses coped and managed, the benefits of remote working are highlighted even more. So, for 2021 and even those after that, remote working will still be one of the technologies that’ll transform businesses. As it continues to soar, video conferencing tools will also improve.
With that said, if you still aren’t convinced on the metrics of moving to a remote working arrangement for your business, here are good reasons why you should use technology to your advantage and make that switch:
- It allows your business to save on certain expenses like utility and rent.
- It gives your employees a chance to have a personalized workspace, which can be beneficial for their productivity and happiness at work.
- It creates a better work-life balance for your team, which can be empowering for them to feel they now have more control over the facets of their life.
2. Artificial Intelligence (AI)
Artificial Intelligence has also been around for long now, but it’s been keeping up with the changes and development in technology as well. AI today has gotten even more advanced than it has in the past, and different sectors can benefit well from it no matter what niche your business belongs to.
AI refers to the branch of science that deals with the processes of building machines that are capable of doing tasks only human beings would’ve been able to. Some of the common examples of AI for businesses today include:
- Automatic recommendations from mobile apps;
- Smart assistants like Alexa;
- Social media monitoring content for false news;
- Disease mapping and tracing;
- Spam filters for messages.
If you’re still doubtful about what AI can do for you, here are some convincing reasons why this is an innovation you must make use of to transform your operations and keep it attuned as a modern business relevant in today’s day and age:
- Better efficiency and productivity gains as tools powered by AI can often handle tasks at a pace which humans can’t rival;
- Creating models for business expansion that are more precise to avoid costly mistakes;
- Improved monitoring of data, so businesses can use those monitored data on time to make any necessary changes before any problems happen;
- Better quality of products as the chances of human error can also be avoided.
3. Contactless Delivery
Another rising star in terms of popularity in technological advancements and innovation is contactless delivery. As shops and restaurants were forced to close down, customers were left with no choice but to start online shopping. This wasn’t just the usual shopping of clothes, among others, but it includes everything needed in the household.
One simply can’t turn a blind eye to the convenience and safety online shopping brings. And to make the experience even safer and better, businesses have also started implementing tools that enable contactless delivery. If your business hasn’t been offering this option yet, then you could be missing out, but it’s not too late to start.
Here are some insightful tips on how you can get started with implementing contactless delivery for your business:
- Enable delivery status and notification through SMS and email, so your customers won’t have to worry about the status of their orders or calling your hotline regularly;
- Enable non-cash payment portals like online payments, credit and debit cards, and online money transfers, among others;
- Optimize order taking by installing the appropriate software in your store or restaurant’s system to ensure a smooth flow of orders for all your customers even during those days when there seems to be an influx of orders.
Cybersecurity is another innovation that’s long been around for many years now, but it has been pushed to the limelight even more in recent years. Given the influx of internet users, the importance to make use of cybersecurity-related tools has risen. Today, internet users aren’t simply just browsing, posting photos, or communicating with each other. It’s also used for a lot of functions like shopping, paying bills, and even sending of documents.
To ensure the safety of your clients, it’s important to stay on top of your cybersecurity protection measures in place. If not, then you may fall into the hands of hackers who are just lurking around the corner, waiting for their next victim to prey on.
5. Credit Card Reader Apps
There are now computer and mobile phone apps that serve as credit card readers. For businesses who use this kind of option, they’re more efficient with time as they no longer have to send a physical invoice or a real register. More so, with the heightened spotlight on safety and cashless transactions, customers like it better when businesses offer the option of credit card payments.
Through a credit card reader app, the receipts you send to your customers are also in digital form. With the payment information consolidated in one app or software, it’s also now a lot easier to track inventory, give out discount coupons to loyal customers recorded on the system, or go through sales and payment history.
6. Telehealth And Telemedicine
The medical industry can still fall under businesses as doctors are essentially running services in the practice of their profession. In this sector, one of the most popular innovative technologies which shaped their sector is now having the availability of telehealth and telemedicine. When doctors make these options available to their patients, it reduces their physical patient load as hospitals can now be less crowded. Consultations can first be done through the telehealth app before doctors determine that a physical consultation is called for.
The widespread use of telemedicine is also an advantage for those patients who live far from hospitals. As test results can now be sent to the doctor through these platforms, it cuts down the need for patients to travel back and forth to pick up diagnostic results and send these to their physicians.
The pandemic forced many physicians to take this route, and with the advantages it brings, it’s slated that even when the health scare will long be gone, telemedicine will continue to be in use. Nonetheless, these would bring comfortability and convenience for everyone.
7. Finance And Accounting Apps
One of the most laborious tasks when running a business has to do with finance and accounting. Even small businesses should take advantage of apps or software which can help speed up the needed computations and preparations of financial statements to be more efficient with their operations.
If your business still operates a manual accounting system, then it may be a good idea for you to switch to an automated finance and accounting app. This may take a lot of getting used to, but eventually, you’ll realize it’s one of the best changes you can ever implement in your business. With the help of these apps, it’d be easier to compute and know the needed figures for your company.
Most importantly, human error can also be avoided to a great extent when you have the aid of computers in your computations. When it comes to making financial statements, you’d know that mistakes aren’t welcomed. Otherwise, these may affect all your other finance-related decisions like tax and investments.
Technology today may be moving at such a rapid pace that it’s not always easy to keep up. But this shouldn’t hamper you from doing your best to incorporate the latest innovations in your business. It’s important to be updated with the trends so you can have a competitive advantage.
You don’t have to do all these at once as you also need time to learn and unlearn the past technologies you’ve been using. Take it one step at a time and see what tools work best for your business, so you can start enjoying the promising advantages these can bring. Consider the ideas mentioned here as you assess what you can apply in your operations.
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