Things have changed in last decade, whether it be the lifestyle of the people or the ideas behind the businesses which was persisting from many decade. From sending letters to using smart phones and from going market for shopping to online shopping on mobile and laptops. Everything has changed.
Technology has been the reason behind all these changes! And it would not be wrong if we say – The new age of technology has touched every aspect of our lives. And as regards business, the use of technology in business has increased the potential of each and every business making it easier both for the customers and the providers.
This involvement of technology in businesses have been possible because of young entrepreneurs who believe in changes and are technology lover. Figures show that most of the entrepreneurs who have started up successful ventures have used technology and most of them are under -35s. These young entrepreneurs have been among the first to challenge the existing system and make it through the most of new technology.
The internet has been a great help and support to these entrepreneurs, giving their ventures access to global markets and low-cost ways of professionalising their image, boosting efficiency and serving more number of customers more easily.
Most of the businesses are now managed and operated in the cloud. From accounting software to cabs online all these allows customers to get a real-time view of their finances, getting invoice on mails and mobile apps has improve our cash flow and making it more easier for the customers.
It’s a fact that all entrepreneurs wants to building a successful business, but only few can make it. A good business plan, proper use of technology, efficient staff are the factors which can turn a startup into a successful one.
An entrepreneur should always look for new opportunities, ideas and new technology to expand the business and making it more comfortable for the customers’ business.
These recent technological upgrades have enabled entrepreneurs to continue flourishing in the most efficient way.
Adopting Modern Data Processing Architecture
As most of the operations are advance, and one has to process large volumes of data. This processing must be done fast. For this stream processing should be used for effective trading, system monitoring, and fraud detection. Advanced technology such as Apache Storm, Apache Samza, and Apache Spark are being used in many projects.
Move to the Cloud
Cloud computing is one of the recent technology which is being used in a number of small businesses. There are numerous myths about cloud computing. However, cloud computing is basically the delivery of computing services—servers, storage, databases, networking, software, analytics on the Internet which is known as the cloud. Companies who offer these computing services are known as cloud providers. Use of cloud makes it very easy for the businesses to manage their data and keep it protected.
Creating an Online Portal and Mobile App for More Customers
Having an online portal and mobile app for your business is very important these days. Portal and App are the platforms where one can visit easily and check about the products and services an organisation has to offer. And it is a fact that if more number of people are able to access your product then the sale is definitely going to increase if it is up to the customers expectation and the one which customers wants.
Use of Customer Relationship Management Solution
When one launches a business, getting customers for the business is the first priority. As already said above use of online portal and mobile app will help you to get that. When you get your customers it is then equally important to make sure your customers are well taken care of. Use of a customer relationship management (CRM) solution helps you to organize and manage your customers data such as- customers information, identify potential customers. All these things are very important as it helps you to improve your overall service and efficiency.
Streamline Payroll and Taxes
When there is a continued addition of employees to your venture, added volumes of payroll and taxes always comes side by side. This can become even more time-consuming and complex to handle if not handed properly or if handed manually. However, you can use streamline and automate the payroll for your employees with the help of technology. Get a human resource team for your business for a efficient and proper management of manpower. This step can significantly reduce your burden and stress level. Allowing you to work more passionately and with more time for making strategic decisions that will grow your business.
Technology has proved to be a boon for the Indian economy too. As with the most entrepreneurs of India are making most of the businesses with technology it adds on to the Indian economy and GDP too.