The constantly evolving landscape of digital technology has altered the way businesses start, grow, and succeed. Historically, it’s been tough to start a business, especially if the entrepreneur isn’t starting with a lot of money. The resources necessary for a business’ success were once very expensive and inaccessible.
Luckily, over the past few years, with technology’s increased capabilities, there has been an increase in resources and tools. Many of these resources come in the form of software and applications which try to make various aspects of running a business easier. Not only do these tools make the lives of business owners easier, but they are often much more less expensive and more accessible.
Advances in technology have presented new solutions to old problems. These solutions are so effective and efficient that companies that don’t use technology as tools are placed at a disadvantage. According to IBM VP Robert LeBlanc in 2015, 84% of CEOs think that mobile apps are necessary for engaging customers. Let’s look at some of the aspects of running a business that have been altered by technology.
One of the first stages of starting a business is branding. A key aspect of a business’ branding is its own visual representations. Designing things like logos and websites once required a lot of technical skill, meaning it was necessary to hire a designer, which was often quite expensive. It also meant hiring someone different for each part of the design process.
Artificial intelligence is becomingly increasingly popular in design software as it simplifies the process for the business owner. AI doesn’t require technical skill because it generates results for the user based on their interests. For example, Logojoy is a logo-generating software which offers options for the user to select and generates a logo based on their stylistic preferences. This is much easier than designing a logo and far less expensive than hiring a designer.
Similarly, Bookmark builds web pages for users using artificial intelligence, saving business owners a lot of effort. These resources allow business owners freedom to design custom representations of their companies without requiring a lot of technical skill or money.
The administrative side of owning a business poses many challenges. One of the biggest struggles for many businesses is keeping track of their finances; there are many components to track and analyze, and there is cash moving into and out of the business constantly.
For many new business owners, the constant analysis of so many different platforms and transactions can be overwhelming. Finances require close attention as they are so fundamental to the success of a business. Often, a business’ finances requires a large team in order to manage and monitor everything.
The introduction of technologies which can track these processes has made managing a business’ finances much easier. The existence of software like Control simplifies the lives of business owners by making all of one’s administrative needs accessible and visible on a single platform. It allows business owners to keep receive alerts, metrics, and analytics from sources such as PayPal, Stripe, and Square. Control is another software which reduces both the time and money business owners have to spend on administrative processes.
Cloud technology has completely changed the way businesses operate. Saving documents and data to cloud-based storage allows employees and business owners to access these files from anywhere.
Using cloud technology also allows multiple people to work on the same documents at once and see updates in real-time. This facilitates collaborative work and ensuring that everyone is working with the most current version of a file.
Finally, cloud-based storage reduces the physical space necessary. Using cloud technology as storage means that large filing cabinets full of physical documents or large computers with tons of storage space are completely unnecessary. More importantly, it eliminates the need to backup data. All of a business’ files and documents are available on the Internet when using the cloud – and they won’t go missing when a computer crashes.
New software, networks, and applications have presented new solutions to age-old problems. Not only do these software make the lives of business owners easier, but they give small businesses the resources to compete with large companies.