2018 will be a watershed year for small and medium businesses (SMBs) as they invest and adopt new-digital transformation programs and emerging technologies with capability to significantly improve efficiencies and effectiveness and boost positive financial impacts. In today’s business arena, traditional measurements of success no longer are acceptable. And the prime reason is digital – the devices customers use in their lives, the channels they take to purchase, and their engagement with disruptive competitors.
To deliver integrated innovation, SMBs need a profound level of insight into people’s lives. For intelligent enterprises, this level of connection and degree of trust require a new type of relationship. It’s not just business. It’s personal. In this context, technology is being embedded in everything that we do and every single business interaction. The trends that are rapidly reshaping not just our daily life, but society, and allowing businesses in every industry to reimagine what’s possible are as follows:
Use of Bots / Robots (Chatbots) will change how SMBs obtain insights and make smarter decisions leading to improved strategic and tactical decision making.
Extent and quality of data is growing fast as unit costs fall significantly leading to ‘democratizing’ data access.
Improve security of enterprise data by moving to a secure cloud platform can maintain audit records and it also adds an extra layer of security with 2-Step verification.
Implement data intelligence to improve data insights and capability to correctly identify and potential threats and exposures.
Implement a digital transformation framework to transform and change existing business models, consumption patterns, socio-economic structures, legal and policy measures, organizational patterns, cultural barriers.
Tap expertise in thousands of skills from anywhere in the world. Across industries and applications, immersive experiences are empowering businesses to not only think differently about what is possible, but also to create new solutions that bypass current distance-based challenges.
Internet of Things (IoT): extend digital integration to the physical equipment and machine intelligent environments that meet people where they are.
Implement real-time reporting that will support increase accuracy and efficiency.