5 Business Technologies You Need in 2017

New trends in business technologies are being predicted each year. This year 2017, a top market research firm, Gartner predicts that many companies worldwide will spend close to $3.5 trillion on new business technologies.

Every year, companies are generally expected to improve their use of technology by spending more on better software system and hardware. If your company is into manufacturing or any other production, then chances are you definitely need to quickly capitalize on new cutting-edge technologies if you hope to stay ahead of your competition.

Below are 5 business technologies you need in 2017:

1. Cloud

Cloud is the first on our list and you will quite agree with me. Cloud has been the technology rave for the past few years and yet, not all companies are investing in it or leveraging on its many benefits.

It has been proven that using cloud services offers new startups and big tech companies with many competitive advantages. One major advantage is that you will spend little to nothing in setting up new infrastructure.

Cloud gives big companies more efficiency and small startups a more scalable and secure environment. It greatly increases uptime, secures data, and reduces environmental impact.  Here is a video showing how cloud computing can help your small business.

2. Business Intelligence

Manipulating data is very crucial in any business setting because it boosts productivity by testing and analyzing a business system. This trend is even incorporated in Microsoft Office 365, which gives businesses the ability to manipulate data, discover vital information and generate key reports.

The ability to make use of existing data in new ways is necessary for this age of information.

3. Security

Any business is prone to security threats every now and then. Hence it is highly important that your security system is one the best available in the market. Even if you are just managing a small company, you are at still at risk of having your network infected with malicious software. Security is vital in not only protecting your data but also safeguarding your client’s data.

4. Virtualization

Virtualization is also very important for any successful business because, it lets you convert physical equipment into virtual, which ultimately allows you to consolidate equipment. It is environmentally friendly and highly cost-effective for technology growth.

5. Disaster and data recovery

What system has been put in place for data recovery after an unfortunate event? If your hardware suddenly breaks down, how fast can you recover the data stored on that device? If your network is down, how soon can you resume operations? You need to invest in an efficient backup and recovery technology system that will increase uptime by more than 50%.

While you may not be able to invest in all of the business technologies that come your way, it is however crucial that you strongly consider the technologies we discussed above because they can save space, reduce operation cost, improve your security system and boost your company production and sales.

Essential Time Management Tips For Small Businesses

Essential Time Management Tips For Small Businesses

Time is money, so they say. The way we spend the 24 hours allocated to each of us determine our successes or failures. The sad reality is that time cannot be recycled, once it is wasted, it cannot be recovered.

Effective time management practice is a crucial element in the success of any business, large or small. A well spent minute can translate to huge productivity in a small business. On the other hand, poor time management can lead to loss of productivity and ultimately the death of the business.

Anyone who owns or plans to start a small business must master the skills and embrace the culture of good time management if they want to be successful. Here are some of the essential time management tips for small businesses.

Keep a Daily Work Schedule

A daily work schedule provides you with a sequence of activities and tasks to be accomplished within a certain duration of the day. The tasks should be placed in their order of priority and according to personal productivity abilities. The work schedule will ensure you only put efforts on the prioritized tasks hence you avoid being carried away by other distracting activities. The work schedule also allows you to accomplish more challenging tasks faster when you still have the energy and avoid wasting time on easier tasks.

Control the Meeting Times

Meetings are important platforms for business reviews, finding new ideas, highlighting progress, challenges and finding their solutions. But meetings can also be a major time wasters for small businesses. Long meetings that end up with no tangible solutions are business killers. Avoid such meetings by planning your agenda in advance and sticking to them. Plan the meetings towards the close of business hours, to morning hours.

Each Project must be time bound

Creating and working within realistic deadlines is one of the best ways to ensure productivity in your small business. Deadlines naturally push us to work harder and faster hence save time for other important activities.

Avoid Distractions

Distractors are many in any business organisation and they are one major cause of business owner to push away their daily work plan. An unplanned visit by a friend to your office is one of such distractors. To avoid this, have a strict visiting practice that only allows those visitors with appointments to be accepted into your business premise.

Embrace Technology

Proper use of technology can go a long way in saving the small business owner the much needed time. Skype and video conferencing can save the business a lot of time it would take if everyone were to walk into the boardroom for a meeting.

Delegation and Division of Labor

As an individual, you cannot handle everything at once. To save time, delegate responsibilities and divide tasks according to the ability and capability of each employee. This will allow you as the small business owner enough time to supervise and follow up the activities assigned.