Top 5 Small Business Technology Trends For 2023 And Beyond

As an entrepreneur or small business owner, you may not always be at the forefront of technological advances. Technology can play a pivotal role in revitalizing and reconstructing small and midsize businesses. Not only new technologies become the main topics of discussion. Some already established technologies become simply mandatory if they were previously just desirable in business. Here are small business technology trends for 2023 and beyond.

#1 Automation

Automation has been a hot topic in small business circles for a while now, but according to Omri Traub, the founder of Popcart, business owners are now seriously considering workplace automation to save money and address problem areas.

With ongoing shortages of workers in certain fields, the investment in automation is expected to keep rising. “Small businesses, for instance, can benefit from online pricing automation to maximize profitability and revenue growth, as well as inventory management systems to ensure optimal inventory levels,” Traub said.

Looking ahead, Traub believes there will be a surge of new companies seeking to develop these automated solutions. By offering such services, many businesses will leverage cloud technology to further advance the automation trend.

However, the future of automation may face challenges depending on the economic situation in 2023. Forrester, a research and advisory firm, predicts that data-driven automation will continue to be in high demand throughout the year. Nevertheless, skill shortages may hinder the adoption of other forms of automation. Nevertheless, for businesses equipped with the right skill sets, automation will undoubtedly yield significant returns.

#2 Employee monitoring software

Hybrid and remote teams are definitely here to stick around, so it’s no surprise that employee monitoring software is too. While some companies have already embraced these tools, we can expect more to join them as the challenges of managing remote workers become more evident. “The transition to remote work has had a profound impact on businesses, affecting productivity, engagement, company culture, communication, and employee growth. Consequently, the demand for efficient technology to navigate these obstacles has become essential,” shared Rhiannon Staples, former Chief Marketing Officer of Hibob. “That’s why centralized HR information systems have become absolutely critical.”

#3 Cybersecurity

Many businesses are now adopting a zero-trust cybersecurity architecture in response to the rising risk of cyber attacks. This approach focuses on verification and access control to enhance security. Zero-trust technology encompasses various tools such as multi-factor authentication (MFA) and security assertion markup language (SAML) for access management. While small businesses are especially vulnerable to cyber attacks, implementing zero-trust cybersecurity can greatly mitigate that risk. Moreover, it helps decrease security and compliance costs while boosting consumer confidence in your business.

While all these business techs are extremely useful, cybersecurity should not be forgotten. The main vulnerability is people, especially employees with high authority. To prevent their data from being intercepted, you should use VeePN with its 256-bit encryption. By the way, it can also unblock Netflix, BBC iPlayer, Omegle, or anything else that uses regional restrictions. A fairly versatile service that opens a window into the free world that it will never be.

#4 Big data

Despite concerns about a possible recession, business leaders appear ready to invest in technologies that offer proven returns. According to the Nash Squared Digital Leadership Report, two-thirds of respondents believe that big data and analytics will provide a competitive edge in the coming year.

Among those surveyed, a substantial 64% indicated that big data usage has given their companies a competitive advantage. Additionally, almost a quarter of respondents reported generating actual revenue from their data usage. As big data technologies and techniques continue to evolve, small businesses can leverage refined practices and knowledge to enhance their market position.

#5 Remote onboarding

As businesses increasingly adopt the hybrid working model (and capitalize on the potential savings resulting from office space reduction and additional work time due to reduced commuting), they will depend more on technology to effectively onboard remote employees. Onboarding plays a crucial role in familiarizing new hires with their responsibilities and the company’s culture. With the current limitations on in-person interactions caused by the pandemic or geographical distance, companies are turning to software for remote onboarding.

Conclusion

Technology trends can change quickly due to various factors such as economic conditions, availability of skilled labor, and user feedback on technology implementation. It’s important to note that the mentioned technologies are expected to grow in the coming years, driven by increased adoption, return on investment, and consumer behavior. Although larger enterprises usually lead these trends, small businesses can also benefit as technology becomes more accessible and affordable.