Advancements in technology continue to shape how organizations develop their processes and reach for new levels of scalability. Over the last several years, many trends have surfaced in the form of new business automation tools, cybersecurity protocols, and advanced machine learning capabilities — and these trends have entirely reinvented how specific industries approach the market.
For SMBs, it’s essential to have a better understanding of tech trends as they emerge and then to adapt current system processes and infrastructures to support these developments. Here are three new tech trends to look out for in the coming year and suggestions on how businesses should react to them.
Larger demand for data security
In the last two years, cyber crimes against SMBs have risen dramatically. Smaller businesses have been one of the primary targets for hackers due to their limited budgets in cybersecurity and newly developing IT infrastructures.
Ransomware and advanced AI-powered attacks (especially ones designed for malicious data mining) continue to grow in frequency and severity. Due to these new threats, it’s more important than ever to improve internal security protocols and protect vital company assets.
There are now higher standards in personal and corporate data protection that are in full force today. Gone are the days of simple user logins and passwords. Companies are now beginning to adopt multi-factor authentication protocols to verify identities with multiple criteria and processes.
Companies are also adopting more sophisticated security technologies like remote browsers through VPN (Virtual Private Network) services and EDR (Endpoint Detection and Response) solutions that are designed to identify, quarantine, and respond to malicious attacks as they occur.
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Business shifts to cloud migration
Cloud-based integrations are nothing new; however, there has been a significant shift in adoption rates with SMBs. In the last year, SMBs are beginning full-scale cloud migrations to support their digital transformations.
In many cases, the costs to continually develop and maintain on-premise cloud-based infrastructures are unachievable, leading many businesses to supplement or fully transition their IT functionality and support. The results have been very positive as companies receive higher levels of security, performance, and accessibility to the latest technology solutions and services.
Improving communication and collaboration among internal and external staff members continues to be a high priority for companies navigating a digital workspace. New cloud computing solutions such as VoIP, web conferencing applications, and IoT devices can connect employees across the globe and support growing supply chains.
New SaaS (Software-as-a-Service) solutions give employees the ability to access valuable company information whenever most convenient, leading to greater productivity and efficiency.
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Availability of advanced analytics
With the availability of AI technology and machine-learning capabilities, SMBs now have access to the most advanced analytics software solutions than ever before.
New web tracking and Big Data solutions are giving companies a much clearer picture of their market space and how to effectively position their brands for better visibility. SaaS solutions are now available to simplify all forms of internal data management — giving companies better business insights and a more organized approach to collecting and utilizing improved analytics and reporting.
A new development in this space comes in the form of IaaS (Insight-as-a-Service) solutions and is designed to leverage both internal data collection and outside industry-specific resources. The benefits of these solutions are significant as companies can not only analyze their data but also compare and benchmark against other competitors in their industry.
IaaS solutions are designed to give companies action plans based on data collected in the form of improvements in business productivity, better system automation, and customer acquisition.
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Changing technologies continue to support the interdepartmental health of organizations as they strive to scale their business operations effectively. By staying up-to-date with the latest trends in SMB tech advancements and adapting your company infrastructure to support them, you’ll be able to protect your business from outside threats while benefiting from better resource management and improved collaboration and efficiency.