We’ve seen it throughout history—if a company isn’t changing with the times, they’re dying. Technology has forced companies to pivot for decades, and it’s always changing. Today, we’re seeing millions of companies adjusting to a remote workforce because of COVID-19, all of which wouldn’t be possible without technology. There’s no question that companies need computers, phones, and an internet connection, but what other technology do they need? To answer that question, we put together a list of technology every business should have; read on to learn more.
Every Business Needs a POS System
A business must make money, earn a profit, and complete its transactions in some way, usually with the aid of a point of sale (POS) system. Whether you have a retail business where customers are making purchases in person, or you need to run transactions while on a customer’s property, you have options. Additionally, there is an increasing number of e-commerce businesses opening. Luckily, there are plenty of POS systems available for online transactions as well. Every POS system has its own unique features and benefits, so be sure to do your fair share of research to determine which system is best for your business.
They’ll Also Need Accounting Software
Businesses must keep track of their finances for reporting and decision-making purposes. Traditionally, business owners might keep track of their income manually with a spreadsheet or by hiring an accountant. The problem is that accountants are expensive for new businesses, even though you might be starting a business without business experience. Additionally, manually tracking your company’s finances takes time, and you’re bound to miss something. Instead of stressing yourself and spending all your income on an accountant’s salary, you can invest in accounting software that integrates directly with your POS system of choice. Again, there are tons of options when it comes to accounting software, so do your research.
Ensure Your Router and Cables Are Up To Date
As we mentioned earlier, every business needs computers, phones, and internet access. The problem is that many businesses use outdated technology, which is one of the factors that keep your business from growing. You might have the latest computer, VoIP phone, and the highest-speed internet plan, but none of that matters if your network hardware is outdated. If you’re a small company, your router should support the number of devices you use. If you’re a large company, you may have a separate data center altogether, but that hardware must also be up to date. Moreover, many business owners don’t realize that ethernet cables can affect their internet speed.
Utilize Cloud-Based Products
Whether you planned on it or not, a large number of companies work remotely in some capacity. Investing in cloud-based software, such as Microsoft Office 365, will make your data easier to access throughout the company. Moreover, cloud-based services encourage collaboration amongst teams. An added benefit of cloud-based services like Office 365 is that they’re secure. Data breaches have become more common in our digital age, and as larger companies grew and took stronger security measures, small businesses became the new target for hackers.
Of course, every business is different, and some businesses will need more tech than others. We provided a general list of technology every business should have before launching. As you know, technology is always changing, and your business should change with it. Don’t let a lack of change be the reason your business fails; embrace change and innovation.
Van Rundell is a writer and author who specializes in transportation, travel, guidance, health & fitness. With over 10 years of experience in the industry as a driver and an entrepreneur, he has seen it all. His tone is professional but friendly with a dash of humor thrown in for good measure. In past, he has been advising, educating and writing about transport for the public and professionals alike.
A qualified fitness instructor with over 5 years’ experience as a personal trainer and group fitness instructor, Van brings his deep knowledge of health and exercise science to his articles on health & fitness.
