Exploring new technologies for small business
With technology continuing to improve through the impending advent of 5G and as mundane business processes become automated, the opportunities for SMEs could be limitless.
In particular, the explosion of technology in the small-to-medium enterprise (SME) world continues to make the professional, economic and lifestyle choice of operating an SME a more attainable dream than ever before – and continues to level the playing field for SMEs, delivering them previously undreamt-of capability to operate profitably, compete with much bigger companies, and enter new markets with confidence.
In this edition of thinkBIG, we highlight and explore six of these technology investments every small business must consider.
These six trends include:
- Using Cloud/Software-as-a-Service (SAAS) to move, handle and arrange data into reports
- Gaining business insight through Artificial Intelligence (AI) and machine learning
- Automating monotonous and repetitive business processes through robotic process automation (RPA)
- Securing assets through the five core tenets of a cyber security plan
- Utilising new payment technology
- Working on shared projects through digital collaboration platforms
As technology bounds ahead in capability and efficiency, while at the same time commoditising and becoming ever more affordable, the profound effects on society and the economy continue to spread.