The 2020s could go down in economic history as the golden age of business technology. Already, the digital era has ushered in a virtual renaissance of software and other computer-based solutions for small businesses. In past decades, cutting-edge technology was too pricey for tiny firms, startups, and sole owners.
Nowadays, there are dozens of examples of business technology products, and services that are not only affordable but offer high value for companies that use them. Besides the obvious case of accounting software, entrepreneurs are leveraging the financial power of fuel management systems, CRM (customer relationship management) software, biometric tech, and ATS (applicant tracking systems).
Here’s a brief overview of how technology for smaller businesses can pay significant dividends for owners and founders in all types of industries.
Fuel Management Systems
For vehicle fleet managers in the transport field, fuel management systems are a necessity. Their power is significant and fortunately, the systems are in widespread use across the transport segment. What can they do? Besides offering keen insight into potential fuel theft and excessive engine idling, they alert supervisors of unusual or costly activities. In fact, using the technology within these smart systems, transportation company owners can follow dozens of relevant fuel trends, all of which reveal the most efficient way to use costly vehicle fuel. For most companies in the sector, there’s not a better way to cut down on overall expenses.
One of the freshest approaches to cost-cutting in modern organizations is the use of sophisticated accounting software products. The good news for managers is that the products and systems are easy to install and operate. When tax time arrives, it takes just a few minutes to export all the data to a secure file and send it to your accountant. When shopping for an appropriate product in this niche, consider asking your company’s accountant or your current outsourced tax preparer for a word of advice. The market changes quickly, and new offerings pop up with regularity. Fortunately, prices are reasonable, and better products offer high value.
Customer Relations Management (CRM) Systems
CRM has been a force for positive change in nearly every industry. Even sole proprietors can take advantage of low-cost versions of customer relationship management software. The programs are powerful, delivering a number of helpful features that can not only track every incoming call and email but have the power to squeeze a wealth of relevant information from anyone who visits the company website. CRM programs excel at client follow-up, sending timely email messages, coupons, and special offers to all current customers. It’s hard to think of a more efficient way to not only generate new business but retain an existing client base.
Less than a decade ago, biometric products’ prices were out of reach for most small entrepreneurs and startup owners. Today, you’re apt to find highly sophisticated ID devices in businesses of all sizes and industries. Owners use the machines to verify identity, check work hours, prevent security breaches, and make sure sensitive files remain inaccessible to outsiders. Options include facial recognition, palm vein reading, fingerprint ID, voice-based identification, and more.