7 Technological Investments Small Businesses Need

When you operate a small business there is much to consider on how to grow it to the next level. When this doesn’t happen, you join the nearly 30% that fail in their first year. When you research and stretch yourself, then success is closer to achieving.

One thing you must examine is your technology infrastructure. There could be some missing components that help you get past the bursting point. As an example, here are 7 technological investments small businesses need.

1. Migration and Modernization Software

How customers access your business and how their information is stored are two critical factors. The apps your clients use must have a strong front and backend to handle multiple transactions. Furthermore, the needed information has to be secure but also easily retrievable.

The way to make both of these things happen is to look at cloud migration and build an application modernization strategy. Organizations like Productive Edge provide the analytical tools that help you audit your environment and come up with new solutions. Through this, you implement new and faster ways to retrieve and deliver data.

2. Warehouse Management System

If you handle product storage and delivery at your location, then you need a method to keep all departments on track. If not, then the constant miscommunications will result in inventory gaps and delivery delays.

The best way to correct this is through a warehouse management system (WMS). This application permits everyone in your office to follow the supply chain and distribution process. Thus, they all see the same information and could report on potential issues.

3. Customer Relationship Management

Customers are the lifeblood of your organization. You can’t ignore their needs once a contract is closed. Their time with your business must be followed and continually updated.

The technological investment that helps with this is a customer relationship management (CRM) application. This software tracks customer interactions from their initial introduction to upsells after their first purchase. Additionally, when the front end of the CRM is customized, it permits clients to submit trouble tickets so their issues are promptly resolved.

4. Enterprise Resource Planning

Where a CRM focuses on the customer experience, an enterprise resource planning (ERP) application looks at the backend operations. Among the items it examines are inventory, delivery, billing, and human resources.

Everything is fed into one database for quick retrieval by those with proper permissions. Should there be a problem, the ERP software alerts representatives of various departments so they can look into the problem.

5. Biometrics

Whether it’s fingerprints or retina scans, biometric equipment is a technological investment that maintains both security and productivity. On the one hand, unknown individuals aren’t granted permission into your facilities if their characteristics don’t meet the criteria of the employee database. On the other, workers have an extremely difficult time having someone clock in for them without a fingerprint or the right retina.

6. Cloud Computing

There’s no longer a need to store your data and the personally identifiable information (PII) of your customers in a local server farm. You’ll simply overspend on replacement devices and recoveries due to data breaches. A less expensive and more secure technological investment is moving your data to the Cloud.

Migrating your company’s information to this platform is more than financially responsible. Overall, when your company grows so does the Cloud storage environment. In fact, before you move your data, the company you8 decide to work with will audit your environment and determine how much extra space is required for future expansion.

7. Enhanced Network Monitoring

Older versions of network monitoring software provide enough information for a cursory examination of the environment to determine what’s wrong. However, newer releases permit administrators to dig down through individual firewalls, networks, and wireless access points (WAPs). These tools give you a chance to focus on one segment of the network instead of disrupting an entire infrastructure with a reboot.

The 7 technological investments mentioned above are a small portion of what a small business needs. However, it’s best to start slowly rather than going full-throttle on all these suggestions. Doing so results in anxiety, budget deficits, and a loss of productivity and revenue.

Research each option thoroughly to find the right solution. Soon enough, your technology infrastructure will be a powerful tool to help you grow.