Adapting To The Latest Technology Trends For Your Business

Color television became available to consumers just 70 years ago. The first cell phone came into being just 40 years ago. Our cell phones have been able to connect to the Internet for just 25 years. Just within the past 10 years, mobile Internet access has passed desktop Internet access – we’re online on our phones more than we are on our computers. And now AI is accelerating the rate of technological advancement and how almost everything online works. That’s a lot of technological change in a very short amount of time. Of course, businesses have to adapt to keep up. How can you adopt the latest technology trends to help run your business more efficiently?

The key, as with many things in life, is keeping an open mind and being persistent. As a small company, you probably don’t have the luxury of a tech team to keep you up-to-date on all the cutting-edge developments in your industry. The good news is that you don’t need a tech team. You can keep up with the important advances through industry publications so you know what’s relevant to your business. You also don’t have to be out on the cutting edge (although you certainly can if you want to); you just need to track the major trends so you don’t fall behind.

New technologies are designed to be easy to use and master, and these days, AI can give you an even stronger helping hand. You might even find yourself enjoying the process of learning. Most importantly, the latest technology trends can actually make your business better through automations and data analysis.

How to Use Technology Trends to Improve Your Business

“To stay competitive, small businesses need to adopt and incorporate online technology into their everyday business operations,” says Seong Ohm, a former executive at Sam’s Club and AutoZone. These are just some of the ways technology can improve your business:

1. Faster Payroll: Payroll apps can expedite paychecks, make direct deposits, and even electronically file taxes. Once the domain of a dedicated bookkeeper or payroll company, computer programs can now handle almost all of your payroll needs with little to no input from you.
2. Better Online Visibility: Every business should have a website, but that website is only as good as the people who find it. Digital marketing tech can enhance your online presence and help your customers locate you. Improving your SEO, implementing a social media ad strategy, updating your Google Business Profile, and strategically using AI can all drive customers to your business.
3. Simpler Bookkeeping: No one likes keeping the books or doing their taxes. Current tech can help you keep track of all the necessary documents, invoices, deductions, and expenditures to make that all a little less painful. You may not even need an accountant! For example, QuickBooks, Wave, and Freshbooks can keep track of all of your finances and help you generate and track invoices.
4. Managing Your To-Do List: With a small business, there are always a million things that need to get done. Productivity apps like Todoist, ClickUp, Notion, or Asana can help you keep track of what needs to get done and when – you can also sync them to your calendars and other programs so that everything updates at once.
5. The “It” Factor: Consumers are more tech savvy than ever and they notice when businesses have outdated websites, payment processing systems, and other technologies. They always want the newest and best tech (check out the line at the Apple store whenever a new iPhone comes out), so keeping up with tech trends shows your customers that you understand what they want, especially in an AI dominated world.

How To Actually Keep Up With The Latest Technology Trends

Because technology changes so quickly, it can be daunting to try to keep pace with current trends. Flexibility and an open mind, however, will serve your business well.

Some business owners are hesitant to adopt new technologies. The problem with this “if it ain’t broke, don’t fix it” mindset is that if your competitors are already using new technology, you may be left behind. This is particularly true for online retailers. Failing to keep up with the latest technology trends, whether it’s software updates or website functionality or some other aspect of your product or service, can spell doom for your business. As a small business owner, you’ve already shown that you can be flexible and learn new skills as they come up. Those traits are just what you need to handle technological advances as they come.

To help your business thrive, the first step is educating yourself about new technology. You can find free resources in the form of journals, blogs, and websites, geared specifically to relevant new technology in your field. Finding the publication which speaks to you about tech developments gives you a jumping-off point, and familiarizes you with tech language and available products. This will give you a sense of what options are out there and how other businesses are taking advantage of them. You can also explore options like LinkedIn Learning or HubStop Academy.

Another way to keep up with the latest technology trends is to take inventory of what technology you use and attempt to streamline your current tech needs. If you have several different programs for different aspects of your business – for example, payroll and accounting – see if there are redundancies. Research whether there is a more recent, advanced program, app, or tech development that can aggregate multiple needs into one process.

When you hear about a hot new technology or program being used in your industry, do some research on it! Find out what makes it different from older offerings and what other business owners are saying about it. For example, AI Chatbots can provide 24/7 customer support and CRM automations can help you engage customers in a timely manner. Take your time, ask questions, and decide whether the new technology is right for your business.

If you’re not comfortable jumping in on your own to research the latest trends, it’s ok to ask for help. You may know someone who’s technologically inclined, or you could take a class online or at a local school to learn some of the basics and get your feet under you.

Our Top 5 Tech Essentials

There are more options for software and new technology out there than you can shake a stick at, so it may be overwhelming to try to upgrade everything at once. If you’re wondering where to start, these tech essentials will benefit virtually any small business.

1. Cloud Collaborations:  Cloud collaborations means you can collaborate with your vendors, employees, and other parties all through the internet. Information stored in the cloud updates immediately, meaning that everyone involved has access to the most up-to-date information. Even your email account is a type of Cloud storage – you can access your emails from any computer. You can use Google Drive and other types of Cloud storage to share internal documents, collaborate on projects, and more. 
2. Mobile Payments: First it was cash, then it was credit cards, and now it’s time to start accepting mobile payments. Apple Pay, Google Pay, Zelle, PayPal, Venmo and other mobile payment options make payment and invoicing literally as easy as the push of a button. Your customers like the convenience and you’ll like the automatic recordkeeping.
3. Smart Devices: A smartphone or tablet can be used for information, direction, collecting payment, inventory, billing, timekeeping, and more, all on the go. You can use it to check your emails and keep track of the data your business is generating, no matter where you are. You need a smart device to manage your business.
4. Cybersecurity: There are tens of thousands of data breaches impacting the world’s biggest companies every year and small companies are just as vulnerable. Point-of-sale theft (digital theft from stolen credit card numbers) is a common concern for customers, as is theft of their personal information. Cybersecurity systems and programs can protect your customers’ identities and finances and build trust. If you deal with particularly sensitive information, it may be worthwhile to hire an expert to come in and make sure your programs and computers are as secure as possible.
5. Social Media Apps: Social media apps and platforms are free for users, so you have resources at your fingertips to find, communicate with, and market to customers. Here’s a primer on how to use social media for your small business. Most social media platforms are intuitive and user-friendly, so they’re an easy way for you to reach out to your customers.
6. AI Tools: AI tools like ChatGPT and Gemini have changed the game for small businesses. In addition to AI chat bots, many other business tools now have AI features.

The Must-Have Adaptation For Today’s Small Business

Sometimes, the best way to handle adapting to the latest technology trends is to take it one step at a time. This is that crucial first step. As far as technology goes, there’s one thing that you absolutely can’t be without: a responsive website. The vast majority of US adults own a smartphone, so being able to reach customers on the go is non-negotiable.

You might be wondering what a responsive website is. Simply put, a responsive website is a website which adapts the layout for optimal viewing on smaller mobile devices, such as cell phones or tablets. If your website is not responsive, then it can be challenging for your customers to view or utilize on their phones or tablets. At best, this means a frustrating experience for your customers. At worst, it means you lost a sale or client to a competitor with a better mobile web experience. If you need to build a website from scratch or tweak your own, there are many tools like Squarespace, Wix, Shopify, or WordPress to help you.

Don’t let your competitors run you down! Adapt and evolve to keep pace.

The Bottom Line

The latest technology trends can make your job easier and will also show your customers that your business is modern and evolving. Keep up with what’s hot in your industry and make the effort to integrate the technology (and especially AI technology) that’s best for your business.

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