5 Trends Influencing Future of Small Businesses Today
Technology continues to expand at a rapid pace and plays an important role in how businesses operate and perform. Unless the businesses adopt the latest technology, they are sure to fall out of the competition. Many small businesses focus on marketing and customer acquisition and do not focus on the impacts of forever changing technology on company operations. The latest advancements in technology have revolutionised the way businesses interact with customers. Below you will find the top 5 trends that would influence the growth of companies and small businesses must be ready to adopt these trends to stay well above the rest.
Visitor Management System (VMS)
Each facility keeps security as their top most priority. It is very essential to keep track of visitors entering and leaving the facility. Traditional modes of visitor management employing a receptionist at the lobby is long gone. They are now being replaced by the
visitor management systems that are meant to automate repetitive activities. The VMS minimises the workload of the front desk staff, reduce costs and increase efficiency. Realising the potential, many small businesses now have VMS in their facility to offer a warm welcome to the visitors and minimise the waiting times.
Cloud computing is another important aspect that is set to impact small businesses. Many companies and businesses are now opting for cloud-based solutions owing to its potential and applicability. Cloud solutions improve business performance, scalability, and efficiency. Take the instance the case of a visitor management system, wherein the visitor details are stored in the cloud and prevent the occurrence of any possible data breaches. Further, the data stored in the cloud can be retrieved anytime with the click of a button. Cloud-based tech trends are likely to continue in the days to come and plays a prominent role in reshaping small businesses.
Many businesses employ chatbots with a view to answer user queries at a rapid pace and enhance the customer service. Chatbots have been responsible for the reduction of manual labour by automating the visitor check-in systems. The chatbots come integrated into the visitor management software to gather preliminary information of the visitors before meeting the host and shorten wait times. The unlimited potential that chatbot holds to respond to the customer needs and reduce churn has made it one of the must use growth tool for small businesses.
Artificial Intelligence (AI)
Artificial intelligence is used in various spheres of businesses and industries these days ranging from hospitals, healthcare, manufacturing, education and others. Even though AI is in the early stages of development, it has been widely adopted by businesses across the globe. The higher adoption rate can be attributed to the machine learning and deep recognition capabilities. The embedded AI(Artificial intelligence) in visitor management system helps capture photos and digital signatures of the visitors when they arrive at the check-in facility. Further, it is very easy to track or manage meetings of the employees with the visitors using meeting management software. Due to its limitless potential AI is set to affect businesses and drive innovation in industries.
Internet of Things (IoT)
IoT is rapidly changing the way businesses interact with customers and vendors. Nowadays, smart devices and gadgets have become the norm for consumers and businesses. There has been the rapid adoption of smart assistants like Alexa, Google Assistant, Siri, and Echo. IoT devices play a prominent role in gathering relevant information from consumers. The data gathered helps to enhance the overall experience, improve business efficiency and reduce operational costs. Smart business owners need to stay up to date with the latest innovations in the IoT sector and better understand how IoT devices help streamline business operations. Straying visitors in a workplace or a facility raises security concerns. A security personnel can only monitor the presence of the visitor in the facility but cannot identify visitor deviation. The latest visitor management software address this problem by adoption of IoT components in combination with web technologies.
From the above discussion, it is clear that businesses continue to be impacted by technological innovations if they fail to integrate them into their operations. Small businesses must take note of these 5 trends and investigate options to adopt them into their business to stay ahead of the competition.