Small businesses don’t only help a neighborhood or town. They are the crux of the U.S. economy. In fact, they represent 99.9% of our revenue. In other words, small businesses are critically important.
Your company is included in this statistic. That’s why your infrastructure must be ready to take on day-to-day tasks. Additionally, it should have enough versatility to expand as your business reaches its bursting points.
This is especially true with your technology. Without the proper hardware, software, and security, you’ll be stuck in neutral. So, to help you out, here are 5 tech improvements that can enhance your business.
1. A Risk Management Audit
While not a physical piece of technology, a risk management audit definitely enhances your business. Particularly around its security. Regular risk management audits minimize the potential of a cyberattack while maintaining steady productivity.
It’s best to put together a risk management team. Have them review your technology infrastructure for potential gaps. Then, discuss the tech options needed to close them. Keep implementing them until you find the right ones.
2. Warehouse Management Software
Supply chain management is a regular issue within companies of any size. Either they don’t have enough or too much inventory. If it’s the former, they sometimes lack the items needed to produce more items. A tech improvement that enhances your business and reduces this problem is Warehouse Management Software (WMS).
Products like 3PL Warehouse Management Software, among others, are meant to automate this process. Some of the functions included in these packages handle administration for employees and inventory. Billing and transportation scheduling are also modules available in a WMS.
The best thing about this software is the information is seen via multiple departments. Therefore, miscommunication is greatly reduced.
3. Internet of Things for Manufacturing Machines
The Internet of Things (IoT) refers to devices with microcontrollers that connect to the outside world. In turn, they report operational activity or potential issues. A tech improvement for your business needs to be the implementation of IoT for your manufacturing machines.
This is critical if your company shifted to an eCommerce model during the 2020 pandemic. With less staff available on the manufacturing floor, IoT technology helps monitor these machines. It alerts the right personnel to potential difficulties. Successively, problems are quickly addressed with a minimum of downtime.
4. Institute Cloud Storage Solutions
Company-owned or rented servers are past technology. They’re no longer worth the return on investment. This is especially true when it comes to storage. It cost much more to expand the capacity on these servers. Instead, consider cloud storage solutions.
There are several advantages to this tech improvement. First, it costs far less to obtain the required storage capacities. Second, Cloud servers have added security mechanisms to reduce the risk of cyber extortion. Third, you can work with a Cloud storage company to grow capacity as your business expands.
5. CRM and ERP
There are two types of applications your company needs to move far ahead of the competition. One of these is a Customer Relationship Management (CRM) package. The other is for Enterprise Resource Planning (ERP).
The former package has an external focus. In other words, it caters to your customers. It records the flow of interactions from initial contact to purchase and potential issues afterward. Many CRM packages come with a module that allows clients to open trouble tickets for additional investigation.
An ERP program is for internal operations. It integrates the main processes of your business. This includes accounting, payroll, and inventory management. Much of this is recorded in real-time and delivered to multiple departments.
The reason both of these improvements are needed is to consolidate information. Minus a CRM and ERP, data is lost, communications falter, and disagreements occur with clients or between departments. With the right modules, CRM and ERP programs display the same data to everyone. As a result, people in different segments of the business gain a complete understanding of the situation.
The 5 tech improvements above are a small sample of items that can enhance your business. Needless to say, implementation of them all at once won’t help you. If anything, it’ll cause more stress among your managers and employees. Thus, take your time to add them to your company. With the proper use and training, you’ll see immense results.