Technology is no longer simply a buzzword – it has become the dominant consideration of almost all businesses looking to grow and remain relevant in 2022.
In 2020, close to 20,000 new tech-related UK businesses were registered, with one in five people indicating that they hope to start a business because they can, instead of because they’re being forced to.
The impact that COVID-19 has had on small business aspirations is unmistakable. And this has had a massive effect on the tech landscape, accelerating people’s awareness of and interest in all things tech-related.
Now, as we look to a brave new world in a post-COVID reality, we examine how this surge has affected small business tech trends.
So, what are the technology trends in business? We dive into the six most important and potentially game-changing technological trends affecting business and explore the exciting potential they have for startup founders looking to head into 2022 at the forefront of tech.
Benefits of Implementing the Newest Technology Trends in Business
Introducing innovative solutions to your business may sometimes seem a bit scary and overwhelming. After all, changing the old ways you used to work is some kind of a revolution. But even though implementing new technologies requires a bit of an effort at the very beginning, it pays off with countless advantages it brings to your business in the long term. And in fact, it isn’t hard nor scary at all!
Let’s name a few of the benefits of implementing the newest technology trends in your business:
- More effective communication
- Wider staffing perspectives (through becoming remote friendly)
- Higher security
- Improved stock management and re-stocking process
- More efficient marketing
- Better business’ productivity
Small Business Technology Trends in 2022
When COVID-19 struck back in early-2020, many of us had never even heard of Zoom. Yes, Skype was the go-to in business video conferencing, but many people still simply preferred to meet in person. Fast-forward to 2022, and almost every business has – at one point or another – made use of Zoom or similar video teleconferencing software and will continue to do so for some time to come.
The video teleconferencing revolution is just one example of how the pandemic has changed how we do business. From remote work digital platforms and AI to the need for high-speed file-sharing and cloud storage, technology has recently taken a big leap forward.
Read also: technology trends from 2019
6 Latest Technology Trends in Business
So, what are technology trends in business? In short, they represent the short-term direction that certain technologies are headed and the impact they’re having on businesses. These trends change as new technical abilities will emerge. Here are six of the small business technology trends in 2022 that matter most now and how each of them can benefit your business.
1. Leveraging the Cloud
One of the biggest elements driving new technology adoption and access is the cloud. As tech gets smarter and more complex, the need for data storage and better computing power in business rises. The answer to expensive CPUs and banks of hard drives? The cloud.
With more than nine out of every ten organizations operating on some level in the cloud, those who are not are getting left behind, fast. And we can expect explosive growth in cloud computing this year.
According to Gartner, spending on cloud services worldwide is predicted to top $482 billion in 2022 – a staggering $168 billion increase from 2020. This surge in a relatively new industry is a great example of how quickly technological trends affecting business can make waves.
A new trend, serverless cloud, AKA “function-as-a-service,” is a fresh concept provided by big players like Amazon and Microsoft, allowing organizations to avoid lease servers and paying fixed amounts for storage or bandwidth. Think “pay-as-you-go” cloud computing, where the cloud provider allocates physical resources on demand so you. Brilliant.
How can businesses benefit:
Cloud computing allows users to access an entire system’s features and files without the need to store that data on their own computers. Businesses can then leverage innovative solutions for their data by tapping into the cloud tools and applications that make data storage, server access, database maintenance, and networking so flexible and ultra-efficient.
Some of the benefits of cloud computing include:
- More flexibility – a focus on becoming more adaptable has facilitated a form of service-oriented thinking that makes cloud data more accessible, shareable, and useful than before.
- Better Insight – allowing businesses to use feedback to adapt and optimize their models and operations using cloud features.
- Sustainability – the renewed focus on competencies and efficiency is unlocking organizational growth opportunities, opening different avenues to increasing business revenue.
- Maximizing Potential – as cloud technology grows, it helps other technologies reach their potential, speeding up migration to more cloud services and platforms faster and cheaper than before.
2. Implementing Work Management Tools
Today’s project managers have their hands full. As projects become more complex, project managers have to deal with a growing list of tasks and responsibilities, and they need help.
Even the best project managers cannot manage everything at once, and even premium project management software lacks the leadership and skill of a seasoned project manager.
Work management tools help businesses streamline and sync their work with project management software. These helpful tools let managers plan more efficiently, track more accurately, organize, and review the project and team performance, giving them more time to focus on the most crucial tasks.
How can businesses benefit?
Work management tools, like Toggl, Scoro, or Basecamp, offer multiple solutions in one platform. Features like project planning boards, advanced time tracking and activity reporting, and multiple integrations with other B2B software bring the following advantages:
• Better customer service, as the project manager or support agent can see customer queries directly in their work management tool.
• Improved accountability due to transparency (i.e., everyone can see which team member is the topic owner).
• Better time management through accurately tracking time spent on different tasks.
• Streamlined resource management due to tools alerting managers of bottlenecks and feeding them insights needed to make project decisions.
3. Adopting Comprehensive HR Software
During the early days of 2020’s lockdowns and stay-at-home orders, many small businesses found it extremely difficult to keep track of their employees at home and still take care of their needs. The HR software solutions for remote working simply didn’t exist – at least, not for the small players.
Fast forward to 2022, small companies are now recognizing the benefits of using a comprehensive HR system. To maintain or improve productivity in the company, many businesses have come to depend on remote-work arrangements for employees. This means they need to use innovative solutions that will fit their changing HR needs.
How can businesses benefit?
Small businesses that use modern HR software can focus on improving productivity and reap the following benefits:
- an improved employee experience for remote-work models;
- better cost-cutting control;
- increased employee-HR engagement;
- access to critical data, which they can use to improve employee performance and growth;
- improved task monitoring and employee feedback.
This small business technology trend also links with the next one on the list:
4. Remote work and remote onboarding approach
Once a pipe dream, working from home has become the ‘new normal’ for many. Where companies once feared that allowing their workers to work remotely from the comfort of their homes would hurt productivity, many have since adopted the model permanently.
Onboarding plays a critical role in welcoming new employees into your business and familiarizing them with their responsibilities. However, doing so remotely has proven difficult, with glitchy tech, geographical challenges, and a lack of that authentic ‘in-person experience’ making induction very difficult.
How can businesses benefit?
While many people still prefer the office, remote working and onboarding approaches are paving the way for seamless inductions and higher productivity levels.
- Digital onboarding allows for a well-planned, professionally orchestrated approach that helps new workers feel welcome.
- Effective remote onboarding brings employees up to speed faster and more efficiently.
- Remote working models allow businesses to recruit workers who live too far away to travel to the office, attracting larger numbers of specialized talent.
- Employees can choose their working hours more flexibly, with early starters and later finishers allowing for extended business hours.
5. Process Automation
According to Monday.com, “54% of workers spend five or more hours per week or 240 hours each year, on tedious tasks requiring little or no creativity”. That’s a lot of wasted time.
Automation makes things easier. Business Process Automation (BPA) technology takes care of mundane, day-to-day tasks that chew up much of your time and energy. BPA software like Kissflow or Zoho are perfect for small businesses, boasting a lightweight interface, while other BPA systems like Processmaker or Pipefy automate workflows to suit the specific needs of an organization.
BPA solutions tend to be more complex and capable than other types of automation, connecting multiple systems and communications channels to the right people at the right time.
How can businesses benefit?
Besides lifting the burden of soul-destroying repeating tasks off your employees’ shoulders, BPA comes with a raft of great benefits.
- streamlined processes delivering quicker, efficient results;
- help with handling high-volume tasks at critical times;
- keeps staff happy;
- assists in standardization of operations and with digital transformation;
- accelerates how work gets done by routing information to the right person at the right time.
6. AI-powered solutions
Artificial intelligence (AI) applications in business are slated to change how we work entirely. Already, AI-powered solutions are transforming efficiency and accuracy in almost every industry. From image and text recognition to algorithms predicting buying behavior with incredible precision, AI solutions are saving companies thousands.
While AI solutions were once reserved only for those businesses with the vast resources to finance and maintain them, business technology trends in 2022 point to better AI access and affordability for everyone.
How can businesses benefit?
AI offers countless advantages to companies, both big and small. As this trend continues to develop, small businesses can leverage these resources for massive gains.
- AI can predict consumer behavior, allowing businesses to anticipate demand surges.
- Improved customer experience on a massive scale.
- Better customer personalization, market data interpretation, and hiring capabilities.
- Stronger competitive edge over those who don’t use AI yet.
Top Technologies for your Company – Summary
Technology is there to help us. It supports almost every area of business and has the potential to take you to the next level. But what about technology trends in business?
From Serverless computing tapping into the power of the cloud to work management tools transforming our planning and organization, reliable HR software managing a world of new remote workers, and refined onboarding activities to automation and AI, technology trends in business are always changing.
Keep your team happy and efficient by staying up to date and equipping them with the latest trending technology, programs, and software. This will help make them more productive and unlock the true potential of your small business in 2022.
All that’s left to say? Good luck in business this year!
It’s time for you to focus on growing your business while we develop your app.