10 Small Business Tech Trends of 2023

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Written By Obaid Ur Rehman

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Although you may not be at the cutting edge of technological advancement as an entrepreneur or small business owner, technology still plays a critical part in the expansion and effectiveness of your company. Small company tech trends will only become more significant for the remainder of 2022 and into 2023 given how much has changed in the last year.

While emerging technologies like 5G will keep gaining popularity, small companies will also be more impacted by mature sectors like employee monitoring software.

Companies all across the globe are still attempting to create a new standard more than two years after the first lockdowns were implemented. Technology may be a key factor in the reconstruction, rebalancing, and revitalization of small and medium firms.

We looked at the most recent technological developments in small businesses and also consulted some of the top IT experts and small company owners to get their opinions. Here are ten digital trends for small businesses for 2022 and beyond.

Also Read: Should You Get A Cloud-Based Business Phone System?

Artificial intelligence

Machine learning and artificial intelligence have long been popular tech subjects. By reducing insurer pain points and enhancing user experience, for instance, AI is transforming the insurance sector.

Small company owners will continue integrating smart technology into new and current operations in 2022 as more solutions do so. The implementation of this might take many different forms, ranging from voice assistants to tailored client interactions. In reality, increasing amounts of AI are already being used in CRM platforms, market research, and cybersecurity.

According to Meredith Schmidt, executive vice president and general manager of small business and fundamentals at Salesforce, while artificial intelligence may seem like a technology solely used by huge corporations, small companies will increasingly utilize it.

By making the most of their time and automating laborious chores, “AI can enable small companies deliver more tailored experiences to their clients,” added Schmidt. “AI and automation may be a tremendous advantage if you are spending roughly a quarter of your day on manual chores like entering data, as our study indicated.”

5G rollout

There are several commercial ramifications of 5G. The introduction of 5G technology started in 2019, although its local and international rollout was substantially delayed by the pandemic. However, there are advantages to using 5G cellular technology, including far higher data transfer rates than 4G networks can provide. Huawei, a maker of mobile devices, claims that 5G also guarantees little or no latency, or delay in data transport.

The development of the Internet of Things (IoT) would advance significantly if latency is effectively eliminated since 5G networks are better equipped than 4G or Wi-Fi to handle the surge of linked smart devices. More IoT employment options will become available as IoT grows.

Despite the buzz around 5G, early adopters and IT teams with a forward-thinking attitude are the main beneficiaries.

Employee monitoring software

It makes sense that not all workers are lining up to return to open-plan workplaces after two years of mandated home working and extensive media coverage of infection rates. Hybrid working is becoming a more and more common choice, and remote work is here to stay.

The trend to remote work, according to Rhiannon Staples, chief marketing officer of Hibob, is largely to blame for the emphasis on HR technology. In terms of productivity, engagement, culture, two-way communication, and employee development, companies have changed as a result of the transition to remote work, according to Staples. This has underlined the need for effective technology to assist businesses overcome these obstacles. As a result, mission-critical centralized HR information systems have emerged.

Employee monitoring software is the most important of these technologies. To have detailed control over remote employees’ output, adopt the finest employee monitoring software. Consider aspects like mobile device coverage and the capacity to identify inefficient working procedures when selecting staff monitoring software.

Monitoring software could be seen as helpful by workers if their efforts are appreciated and their successes are celebrated.

Remote onboarding

The effectiveness of the onboarding process for remote workers will depend on technology as more organizations adopt the hybrid working model (and the potential savings resulting from losing office space and freeing up employee commute time for more work).

In order to familiarize new hires with their tasks and the corporate culture, onboarding is essential. Companies are using software for onboarding since they are unable to interact in person, either because to the pandemic or their geography.

According to a study, a poor onboarding experience causes nearly two-thirds of employees to look for new employment. “Technology that ensures every step of the onboarding experience is planned and orchestrated professionally will help companies make sure their new team members feel welcome,” said Staples. “Companies will increase their investments in technology that enables workers to get acquainted with the important relationships they need to establish outside of their immediate team”

Tech-assisted shopping

The pandemic’s effects on retailers have been some of the most devastating. Major companies have accelerated the adoption of mobile and social media shopping to offer a frictionless buying experience in reaction to lockdowns and similar inconveniences.

Staples claims that this high-tech strategy for ensuring public safety has expanded beyond curbside collection and has become a logical extension of current technology like mobile payments and terminals.

Mobile payments used to be a nice-to-have that allowed customers in busy businesses to avoid waiting in lengthy checkout lines, she added. However, as a consequence of the epidemic, they are now almost a must for most stores.

QR codes, mobile terminals, and mobile wallets are now all part of mobile payments.

To better represent our current and likely future realities, several companies are redesigning their in-store experiences, according to Staples. She used the example of Walmart’s transformation of its shops into settings akin to airports that place a premium on comfort and contactless payments.

Software unification

The pandemic’s effects may also be seen in the gradual fusion of formerly disparate software user interfaces. Take Windows 11’s inclusion of Microsoft Teams as an example.

A growing number of third-party software connectors are now being used. In the modern workplace, teams may communicate through Slack, essential papers may be sent via Outlook, customers may be managed with Salesforce, projects may be planned through Basecamp, and firm data may be stored in Google Drive. Unification helps to reduce and alleviate the danger posed by data silos, which is crucial.

According to Roy Mann, CEO and co-founder of Monday.com, “connecting software to operate with other software is tricky.” A breakthrough in integration platforms will make it possible for any programme to work nicely with any other software.

According to his predictions, these linkages will connect many platforms and enable fluid communication. For instance, he said, if client information is changed on one platform, it would be updated instantaneously across other platforms. Business time is saved by this unification.

Increased focus on cybersecurity

New types of fraud have emerged as a result of the transition to new working habits, with malware developing in response to more virtual communication and the growing residential usage of office equipment.

However, companies have not yet benefited from increased awareness of risk. Nearly 60% of small companies believe it is unlikely that they would be the target of a cyberattack, according to data from BullGuard. However, according to industry experts IT Governance, there were 5.1 billion data compromised in 2021 compared to 2020, an 11% increase in security breaches.

SMBs should begin seeing security through the eyes of large enterprises, according to Jim Lippie, a former general manager of cloud computing for the software firm Kaseya. In addition to developing new, standardized blocking and tackling game plans to keep the firm even safer, SMBs, like their major corporate counterparts, will clamp down on a complete backup-and-disaster recovery solution to stay secure.

Greater emphasis on automation

Although workplace automation has long been a term in small company circles, Popcart creator Omri Traub thinks owners are now seriously considering it as a method to save costs and address issues.

Automation investments will keep rising, according to Traub, as some industries continue to face a labour crisis. Examples for small businesses include inventory management systems to guarantee the ideal quantity of goods is on hand and online price automation to balance profitability and sales growth.

Looking ahead According to Traub, a “new generation of firms” will be striving to develop these automated solutions. He said that by offering such service, many businesses would use the cloud to guarantee that the movement toward automation picks up steam.

Influencer marketing

Influencer marketing on social media and tailored advertising are becoming into effective methods for reaching consumers and promoting goods. The days of generating sales via conventional print advertising are long gone. A company nowadays is required to have a planned, dynamic marketing strategy, which increasingly entails collaborating with influencers.

According to Alex Shvarts, CEO of FundKite, “consumers want greater authenticity in their marketing, often in the form of a referral from someone they trust, like an influencer.”

You may interact with your consumers via social media marketing and carve out a place for yourself in your sector. Working with real influencers (as opposed to influencer marketing fraud schemes) requires researching prominent people in the field and being aware of your company’s demands.

Since audiences may be fickle, influencers could suddenly lose favour. Look for those who avoid controversy and preferably those that have a history of collaborating with other SMEs.

Social media advertising

In 2022, small firms will still use social media advertising. Influencers are sometimes referred to as social media advertisers, however social media advertising also includes practices like pay-per-click advertising.

The use of social media advertising to target certain groups will increase as more small firms enter the market, according to Matt Rosenberg, director of communications at Helbiz. “In today’s expanding digital world, the capacity to produce distinctive and distinguishing content that connects clients via social media platforms is crucial.”

This pattern is profitable. Rosenberg claims that 75% of Americans have bought a product after seeing it in a brand’s social media post. It’s time to start exhibiting your business on social media if you’re not currently doing so.

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