It’s not a secret that all businesses strive for efficiency, but for small businesses, this is critical. If they fail to keep productivity high and costs low, they could be forced to close. Luckily, technology is constantly evolving in order to make that process easier. As the year draws to a close, companies small and large should be on the lookout for new trends in order to stay ahead of competition. Therefore, here are four technology trends to be aware of in 2020.
1. The Mobile Experience Remains Important
It’s no surprise to hear that mobile won’t be slowing down in 2020 and let’s face it; a desktop website simply isn’t enough anymore. As customers move away from their computers and to their smartphones and tablets, in the new year you can expect to see more consumers accessing information and payment options using their devices. Including mobile payments in-store as well as an increase in ‘one-click solutions such as Apple Pay, PayPal and Visa Checkout.
2. Using Artificial Intelligence as a Service
It is predicted that in 2020 more small businesses will be investing in artificial intelligence as a service – AIaaS for short. In fact, Tractica have found that “the total global revenue for AI software is expected to grow from $9.5 billion in 2019 to as much as $118.6 billion in 2025.” A rise in third-party services, such as Microsoft Azure, allows companies to outsource tasks via a monthly subscription leading to an increase in productivity.
3. Increased use of Blockchain Technology
The use of cryptocurrency in particular is growing. As more consumer buy into decentralized currency, cryptocurrency isn’t just for black-market purchases or ransom payments to hackers anymore. In fact, leading cryptocurrency exchange Coinbase users jumped from 400,000 in January 2017 to an astounding 5.6 million by June 2018. Although small businesses may not move into selling or purchasing with bitcoin, they may turn to blockchain to help secure sensitive transactions.
4. A Rise in Automation
There is an immense pressure for small businesses to keep up with large corporations. But automation can help. Security, data storage and data analysis are three areas in which automation could be particularly beneficial for companies with a small IT department. Automation can also be applied to social media and email marketing, helping small organisations to become more efficient and allowing them to focus on other areas of the business.
Cyber provide the technology to help SME’s achieve cost effective solutions that drive cost efficiencies and growth. Why not talk to us in 2020 about your business needs.