Technology is increasingly becoming more and more important to SME’s. Whether it’s managing sales and stock, helping communicate with clients and co-workers or new machines improving a business’ efficiency, there are lots of ways technology can help a business improve their productivity. But these new technologies are not without their downsides. Clear communication between employees is vital for any business and new technologies do give us opportunities to see and speak to people all around the world instantaneously. The proliferation of this sort of technology means its now available to small businesses at a very minimal cost, making it easier for them to work with people and customers all over the world. Although it’s made communication a lot faster and cheaper, there is no substitute for speaking to someone face-to-face. Experts say that speaking through emails or text messages can often give people a sense of detachment to the person they are speaking to and can lead to disagreements escalating rather than being worked out. It’s important that businesses have face-to-face meetings and discussions as often as possible, so they can minimize miscommunications and help foster positive relationships.
The rise of automated technology has been another major positive for business owners. Businesses are now able to automate manual tasks that would have required time, effort and money just a few years ago. Accounting software and invoicing applications now mean that businesses don’t have to spend large amounts on manual bookkeeping processes that are now automated and can complete tasks at a fraction of the cost.
Technology gives us the ability to be accessible 24/7 from anywhere in the world, which has given great opportunities to SME’s. Employees can work from home or from the road with very little effort or cost, providing greater flexibility for both employers and employees. It also gives businesses the opportunity to operate worldwide. Employee on opposite sides of the world can now work simultaneously on projects in different countries and timezones, giving businesses the scope to expand internationally.
Modern technology has given SME’s so many opportunities to grow and expand, make sure your business isn’t missing out.