The Top Business Technology Trends of 2018
In the last two years, some business technology has mainstreamed enough that it’s changing the way business-owners operate, and how consumers interact with businesses. 2018 will be no different; business technology will continue to advance, innovate, and integrate into every business market.
Here are some trends that you can expect to see throughout 2016:
Kiss Cash Transactions Goodbye
Humans have been carrying around unwieldy and unreliable currency since the dawn of time. But paying for everything from your groceries to your bills and paying for unexpected things like having water under your furnace is getting easier and more streamlined. And this means it’s also easier for businesses thanks to some of the tech advances.
With Paypal, Chase Quickpay, Venmo, Apple Pay, Google Pay, “contactless payments” and a never-ending parade of tech-fueled transaction platforms, the way we receive and exchange money is changing. Payments can be done by pushing a button on your smartphone, or automated safely.
Those transactions can be reversed just as quickly and easily. Automated invoices are just as easy and fast, and now that everything is done through these services consumers and businesses alike can keep track of every single transaction, and have an automatically backed-up record.
The research firm Gartner predicts that the mobile payment industry will be worth an estimated $270 billion in transactions by 2017, which is a jump up from $235 billion in 2014. Businesses are jumping on this trend as quickly as possible, so expect to see a continuing trend in growing popularity throughout 2016.
Real Time Updates on Businesses Through Constant Connection to Devices
What if a business’ inventory could send you a text message when supplies are running low? Or what if equipment and shipping trucks could send you notices when something goes wrong?
Businesses connecting a network of devices to help automate aspects of their company will be another growing trend in 2016. These apps can collect data instantly, and update both business owners and consumers about changes, problems, etc. This allows both parties to avoid potential problems in advance, and save money.
It also increases communication between management, employees, suppliers, and consumers. In addition to the connection opportunities, the Internet of Things can help business owners to keep track of their sales, cash flow, inventory, and more. It’s an easier way to keep an eye on things.
Records Are Stored in The Cloud
Bookkeeping is being phased out, and replaced by the storage of data and records in a secure Cloud-based system. Businesses are being slow to jump on the cloud trend, but many more progressive companies have already switched to a fully cloud-contained operation.
Software and data is easier to maintain, communicates instantly with other systems, and is becoming increasingly more safe than hard records and the spreading out of software services for businesses. This is all tied together with the trend of connected devices, and the cloud relies on all these devices to be constantly reporting data to be stored back on the cloud, while the cloud hosts the software that these devices need to operate better.
Businesses will be better off the sooner they realize the capabilities that cloud-based technology have to offer their company, and they embrace the trend.