Workplace technology has advanced at an incredible rate over recent decades, enabling small businesses in Sutherland and across Australia to transition from analogue operations into the digital era.
It’s safe to say that the impact of technology on modern business has been substantial, especially now as we transition into the digital age. Artificial Intelligence and cloud databases are irreversibly transforming how we do business. Maximising technology in business operations is essential for companies seeking to stay competitive; offering benefits both to employees and management alike.
In this article, we’re exploring the key technologies changing the future of small businesses in Sutherland, and how you can use them to improve yours too.
How technology is revolutionising business
Successful entrepreneurs in Sutherland understand that technology is ever-evolving, and that they need to stay up-to-date with innovations like Artificial Intelligence and cloud storage in order to remain competitive.
Almost every industry has seen great gains thanks to these new and growing technologies in business that have drastically transformed operations over the years.
Improved Decision Making
Decision-making plays a pivotal role in business success. For optimum decision making, managers and entrepreneurs need to conduct thorough market research in order to reach informed, sound decisions.
To get there, business leaders need to conduct real time research and collect data. New data software programs can store all the statistics and numbers securely in one central place, as well as draw complex and nuanced patterns that are easy to go unobserved by the human eye.
Resource Management
Resources are integral to any successful business’s operation. Financial, intangible and human assets are all resources. However, managing them effectively to get the best outcomes for your business can sometimes pose a challenge.
Advanced technology can automate processes and solve complicated problems more easily. With developments in AI and machine learning, admin work such as payment invoices, training programs and time-off requests can all be tracked and recorded from one digital space, to save time and mental energy.
Automation
Artificial Intelligence is one of the most transformative technological changes any business can implement. Machines capable of learning and anticipating human behaviour have forced organisations to reconsider their practices, from enhancing customer engagement to generating more robust cybersecurity.
Complex algorithms enable businesses to automate many processes to increase efficiency, since they’re more productive, faster and more accurate than manual labour at completing repetitive tasks.
6 emerging small business technologies to keep an eye on
New research has revealed that technology platforms are a major factor in the growth and development of small businesses. Research by Telstra in 2024 revealed that 58 % of small-business owners in Australia say that embracing digital technologies is a priority.
However the implementation does not always follow suit. For example, from the same study, only 7% actively use AI in their operations.
To get ahead of the curve, we’ll look at 6 small business technologies that will undoubtedly be a good investment for your business either today or in the very near future.
1. Artificial Intelligence
Artificial Intelligence or Machine Learning has seen tremendous progress in recent years, yet its true impact will only become clear in the future. Artificial Intelligence refers to machine-like cognitive functions such as learning and problem-solving that mimic human intelligence.
AI is an impressive technology, yet the word “robots” can cause unease among consumers and businesses alike. However, AI can present helpful solutions to dealing with customer service issues through chatbots, as well as answering common inquiries, and providing out-of-hours support.
2.Virtual & Augmented Reality
Virtual and augmented reality (VR & AR) encompass a wide array of technologies focused on computer-generated images and projections designed to produce hyperrealistic experiences that are immersive and engaging. If you run a customer-facing creative or visual based business, VR & AR can bring your concepts to life in a completely new and immersive way.
3. Cloud & Software
Cloud computing is now used by almost every type of technology imaginable – from individual smartphones to entire workplace systems.
Software integration means combining multiple systems into a unified digital ‘entity’. There are cloud software solutions that improve bookkeeping and accounting processes, industry forecasting, inventory management, project planning and other operational areas of business. These apps can be integrated into a customised technology, tailored to suit the specifics of your industry or sector.
4. Customer Relationship Management
CRM tools help you manage and organise your client data in one location, so that you can develop strong and lasting relationships that will benefit your business. Customer relationship management systems keep all of your contacts, from leads to loyal clients, easily accessible and organised.
They also allow you to keep track of details such as client preferences, appointment histories, birthdays and other important customer dates, and even customise marketing campaigns.
5. Automation
Automated systems are those designed to complete repetitive tasks with little or no human involvement, using pre-programmed rules and patterns. For example, if you make an appointment, the confirmation message or text message you receive as part of this response might come from an automated response system.
Automating manual tasks allows employees to save time so they can focus more on work that generates profit, rather than compulsory but time-wasting administrative duties.
Another form of automation is inventory management systems that can help ensure the correct amount of goods are on hand, and alert when certain supplies are running low – whether that’s ingredients in a restaurant kitchen, or stock for an eCommerce store.
6. Blockchain
Blockchain is an advanced database mechanism that facilitates transparent information sharing and asset tracking within a business network. Blockchain technology advancement has opened the door to an age of digital currency and cryptocurrency, that can be as simple as customers making digital payments on your online platform with an enhanced level of financial security.
Blockchain’s primary benefit lies in its transparency in data modifications. As an open and distributed ledger system, Blockchain allows for quick, permanent and safe transactions between parties. If customers feel their personal and card details are adequately protected, they’re more likely to spend money with you.
Essential steps to effective business technology transformation
If you want your Sutherland business to stay at the head of the pack, step up your technology transformation with these 4 steps.
1. Research & prepare
Carefully evaluate the impact and relevance of new technologies for your company operations. Choose software that fulfils real needs within your business instead of jumping on every latest tech trend out there, just because it seems revolutionary.
2. Upskill & train your staff
In order to maximise the benefits of new software, staff must understand how to use it. Invest in their upskilling so they feel confident using software as effectively as possible. Help eliminate ‘tech-fear’ among your employees, while showing how it can make their jobs simpler.
3. Reduce risk & focus on cybersecurity
As more software is implemented into your business, so too will the data collected about customers increase, and with it – cyber-threats. Implement robust measures and stay on top of security protocol updates to protect this important information and data.
4. Invest in your social media
Take it from us here at Mums of the Shire, social media is what contextualises your company’s web presence and tech utilisation, including the adoption of CRM software. By staying connected with your customers and fellow figures in your community, you can solidify your business as a fixture of Sutherland, both today and across the digitising future.
Check out our socials to see how our community members can benefit from joining our Mums of the Shire network. From exclusive events, discussions with other female entrepreneurs, and the opportunity to showcase your own business, our social media is designed to benefit all the valued members of our wider community.
Managing tasks such as customer service and problem solving can be challenging, but the right technology for small businesses makes it a whole lot easier. Beyond this, customers are increasingly expecting adoption of modern technologies as standard. Not only do these implementations make your business operate more smoothly in the long run, increased sales and customer loyalty is likely as a result.
Digital transformation doesn’t occur overnight; rather, the transition to software solutions takes time as teams seek out suitable tools. Therefore, having a strategy for this transition is key. Get to grips with the technologies changing the future of small businesses in Sutherland, and ensure you don’t get left behind.
