Tech trends Small and Medium size businesses need to be aware of in 2018
At this time of year, the heading reflects the most common question I’m asked by small and medium business owners (SME) – and rightly so for a SME. Being aware of technology advancements could help your business realise 2018 as your best year yet.
While it seems a relatively simple topic – it’s actually an ever-evolving discussion as technology means so many different things to different people and different industries.
So, let’s keep focused on 101 business needs and remove topics like smart speakers, driver-less cars, smart homes etc.
When leveraged correctly, technology is an amazingly powerful business tool that can help your business deliver in areas such as superior customer service, greater staff productivity, help carve out competitive advantages, attract future employees, do more with less and many other key business deliverables.
Unfortunately, there will be more Cyber-crime in 2018 – it’s an absolute given. A more proactive approach to cyber-security will more than likely be one of the biggest trends in 2018 – if not the most important.
This prediction escalates when you consider the recent legislation introduced in Australia punishing businesses who fail to report data breaches. Coming into effect this February, it requires prompt data breach disclosures and comes with hefty fines of up to $360,000 for individuals and $1.8 million for companies.
If 2017 is anything to go by this is one of the most misunderstood areas for SME owners. With threats on the rise and laws coming into place you need to urgently address this area of your business. A proactive, comprehensive and holistic approach is required in 2018 and well beyond – so start now. More information is available at https://www.staysmartonline.gov.au/
For SME’s, staff and equipment productivity is a major key for ongoing success. Imagine one of your employees’ laptop is about to have a hard drive fail (and take all the work done on that big project with it). If you can be alerted to this risk before the failure you can take action before the issue is critical. This may be the same if you depend on machinery – be alerted before the issue becomes critical and money is lost.
The hype and reality of cloud will continue to roll through 2018. Private, Public and Hybrid solutions all have their own pro’s and con’s to take into account when deciding to move your applications away from on premise solutions. Every business has its own unique needs to be considered.
Throughout the year Edge Computing will be another consideration that will become more mainstream in this space.
With the mass adoption of technology, threats lurk around every corner. Planning and being prepared is the best way to eliminate extended unwanted downtime in your business. This can be critical to your overall business health in 2018.
Flexible working conditions:
More and more people are working remotely. SME’s will continue to embrace this trend in 2018 as not only does it reduce your own overhead (because you don’t require as much office space) it also helps employee productivity, improve the quality of their work and in some examples, helps with reducing stress levels. This trend toward flexibility will continue in 2018.
Tech Precision Methodology:
We believe in developing a relationship of understanding with our clients. Being able to leverage technology so you the client receives outcome based solutions helping you drive your business forward.
If you have any questions about these topics or other tech trends that you would like to discuss please contact us.