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Innovation drives competition, making it a crucial investment for small businesses. However, many owners believe the cost is too great. In truth, today’s technological advancements are highly affordable and well worth the amount spent. The key is understanding what your company needs so you can best invest your resources. If you want to stay competitive, here are a few technological innovations to consider from Cup O Code.

Invest in Machine Learning

Artificial intelligence isn’t a gimmick — it’s a new wave of smart computing that identifies patterns and recommends corrections. Machine learning can make really accurate predictions, allowing you to prepare for upcoming market trends well before the competition. Keep in mind that machine learning is an ongoing process, so plan for upgrades and evaluations in the long term.

Adopt Collaborative Work Applications

Today’s technology allows small business teams to collaborate no matter where they’re located Collaborative applications create a central hub where team members can keep everyone updated, access essential information, and share documents. Most applications also have communication tools such as instant messaging and video conferencing, allowing employees to answer questions in real-time.

Use a Cloud Server

The cloud has revolutionized data storage, allowing greater collaboration and flexibility. If you travel or offer remote work, access to a cloud server is essential. These servers are maintained online through third-party companies, so you don’t have to worry about a physical connection. You can even find highly secure options for sensitive information.

Automate Repetitive Tasks

Small tasks add up over time, costing hundreds of hours and thousands of dollars. Automating these odd jobs boosts productivity for relatively little investment. You can easily purchase software to automate the following:
• Document sending
• Reminders and follow-ups
• Event promotion and registration
• Email list clean up
• Password resets

There are even more robust ways to automate tasks and processes in order to make your business more efficient. The elements of business process management involve not just automating, but reshaping the ways in which people, systems, and data interact. The result is a more effective and efficient system.

You may also consider getting a virtual assistant to streamline processes. This software acts as an automation hub, taking care of all of the above tasks with a single program. Having a one- stop automation shop can keep costs low and responsibilities organized as your company grows.

Extract Data Digitally

Data is a rich resource for enterprises, as it helps them identify customer demographics, popular products, and supply chain issues. Of course, not all information is digital. Data entry takes information from paper documents and logs them into your database, but the process is tedious. Digital data extraction cuts down on transcription time.

Once the relevant data is transcribed, you can use technology to analyze trends. Data analysis software runs in real-time, delivering insights right when you need them. This quick turn-around lets you respond to trends as soon as possible by either correcting errors or taking advantage of new opportunities.

Technology helps small business owners chart their future paths. If you’re not sure where to start, experts such as Cup O Code can assist. Visit their website to learn more about how their experienced staff can help you with digital marketing, including your web development. With the right resources, you can build the foundations for success.

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