Top Business Technology Trends to Consider in 2018
If you believed 2017 was a significant year for technological advancements, the New Year is forecasted to be stellar.
The good news is implementing new technology no longer a requirement for large organizations.
Small businesses can take advantage of employee increase productivity and happy customers by researching one or a few of the trends on the list.
Technology is a prime factor that will help you save big in your business operations.
Here are the top 2018 trends you need to know:
2018 Business Technology Trends to Consider
1) Automated Software: A Cost-Effective Route from Employment
In 2018 organizations will cut costs in all corners of the business.
One of the best ways to lower the cost of hiring an accountant or a financial advisor is using an automated invoice software like FreshBooks.
The cost of hiring an accountant is between $60 – $150+.
On the contrary, some accounting software offers low monthly payments to users and is available through an online login platform.
2) Education Depending on Cloud Technology
Educational establishments are expected to depend on the cloud as a storage of information for students and professors to uses for learning tools and information that support online courses or professors that want to stay connected with students offsite.
One of the benefits of cloud technology in education is both students and professors can find academic journals or other educational forms of knowledge without spending time searching through books at the library.
As a result, the cost of students purchasing textbooks or a University hiring staff because of busy volumes at bookstores will be reduced.
3) Facial Recognition Enhancing Purchasing
Marketing campaigns will experience a 360 upgrade with face recognition apps to help consumers with stores to purchase items.
One recent example includes Amazon GO’s facial recognition that follows the movement of its customers in stores.
The way it works is customers can leave the store with items without paying.
It means no cashiers and customers are charged to their Amazon account.
It decreases the cost of hiring employees, helping customers to get out of the store conveniently.
4) Internet of things (IoT) a Life Necessity
It is forecasted that the Internet of Things will bring in $6 trillion up until 2022.
If you haven’t heard, IoT means a retail item such as a home appliance that has sensors and internet software connected.
Google’s home personal assistant is an example of how technology people use in their homes to request the same information we receive online, but through a robotic voice helping us through our day.
If you have the budget to invest in this technology, your products can be life essentials people can’t live without.
5) Chatbots will Improve Customer Service
Oracle Mobile Cloud uses artificial intelligence (AI) to read algorithms when customers call a customer service line.
It understands their previous purchasing history to offer frequently asked questions.
As a result, the time waiting in the queue for an agent, the IVR system can answer questions by referring customers back to the website or provide proper instructions.
Employees can focus on completing more tentative tasks, and it offers an enhanced customer service experience.
6) The Necessity for Artificial Intelligence (AI)
The chance to step into a digital world has helped video games, e-commerce, aerospace, and defense build virtual platforms for consumers and employees.
A recent example of Artificial Intelligence in e-commerce is IKEA’s online customer experience where online visitors can take pictures of their home and place furniture in the store online to see if it matches their interior design.
It saves people time in visiting the store for hours figuring out what bed or sofa will work in their home.
The one piece of technology all businesses need to implement is mobile app functions that speed up the purchasing decision-making process of their customers.
Customers not visiting your store versus browsing your site online might be a risk, but your competitors will think one step ahead.
The idea next year is to get into the mindset of a client. Think about what they need, want and how fast they expect it.
Build your technology implementation planning around these factors, and you are bound to succeed in your industry.