The inclusion of technology in your small business can do wonders to achieve better results.

You can get rich dividends at minimal costs and minor maintenance with smart utilization. 

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Controlled implementation of technology is the right foot forward. Here, we cover 5 must have cost-efficient technologies for SMBs: 

5 Cost Effective Technologies for Businesses

1. Customer Relationship Management (CRM) 

A Customer Relationship Management (CRM) software helps SMBs acquire new customers, boost sales, and assist in marketing. You can avail features like customer management, data analysis, database management, etc., all under one roof. 

You get an organized interface that notifies you about business proceedings, financial projections, consumer demographics, and more. Advanced CRM software also comes with an integrated attendance management system which helps you keep track of your staff's regularity.

You can obtain sales reports, generate team performance charts alongside business suggestions that can help you scale your business. 

2. Contactless Payment 

Convenient payment options are always a plus. However, the outbreak of the COVID-19 pandemic has changed the definition of payment convenience altogether. You now need to maintain social distancing at all times. This has pushed tech vendors to optimize contactless payment options.

Contactless payment is robust, secure, and users have easy access to these applications. Payment wallets, bank-to-bank transfer applications, etc., offer valuable merchant collaborations. Provide hassle-free payment amenities to your consumer-base and experience the magic of seamless transaction. 

3. Chatbots 

The introduction of chatbots is the perfect example of the use of technology in business done right. An AI-driven chatbot is a software program compatible with websites and mobile applications. It assists the users during their on-page time and resolves queries instantly. 

You can also collect visitor's contact information and integrate the chatbot with your CRM to perform in-depth data analysis. It also opens the doors for Email marketing campaigns and other strategies that involve direct communication.  

Chatbots function 24x7, making it a must-have technology for small business owners. They are efficient because they handle most of the queries without any human intervention. 

4. Data Security 

Digital breaches can cause severe trouble for business owners. So, include an up-to-date server and data security tool to safeguard your other business assets. End-to-end encryption programs, robust firewalls, cybersecurity solutions, etc., comprise worthy data security for small businesses.

Cyber technology solutions for small businesses help protect their confidential information, corporate data, and future business recipes. Invest smartly in value-for-money malware solutions that offer multi-layer cyber protection. 

5. Team Collaboration and Management

Miscommunications among team members can occur during project execution. But, SMBs can employ team collaboration tools to rectify the issue. You can manage attendance, share the list of daily tasks, and evaluate daily performance.

Work-from-home has been the norm of 2020, due to the restrictions imposed to counter the spread of COVID-19. It's tedious to monitor the entire team over phone calls and messages. So, use an office management software and monitor daily progress while also providing valuable work feedback in the same application. 

To Conclude

Small business technology needs are cost-effective and efficient. You don't need to go overboard with technological solutions by spending hefty sums of money. Instead, invest more time in research and configure your business's best tools without compromising with your budget. 

The outbreak of the coronavirus pandemic has increased the usage of contactless payment options and team collaboration tools. Cybersecurity and CRM software continue to remain critical for safe and organized business functioning. 

Which technologies do you use for efficient business functioning? Let us know in the comments section.