A Brief Look at Emerging Technologies

There is some fear in the implementation of new technology. Not really knowing what to expect and how it will resonate with your current systems and staff can be nerve-racking for even the most hardened entrepreneur. Today, there are a few technologies that have emerged and are on the cusp of being integrated into more business settings. Today, we take a brief look at these technologies.

Technology #1 - Blockchain

You’ve probably heard of blockchain before. It is widely known as the technology that makes cryptocurrency possible. Software developers have been working to use the encrypted distributed ledger system to create applications that can help a business secure its processes and create situational transparency. 

Thus far blockchain’s applications are mostly security-related, but the applications for the technology are limitless. Right now, a business can start using blockchain to boost the security of their accounts-receivable process, for contract transparency, and aid the efficiency of their supply chain. 

Technology #2 - Business Process Automation 

Automation has been the name of the game for some time. Today, however, there are more devices than ever to build automated systems with. The smart-technology boom called the Internet of Things (IoT), coupled with advancements in machine learning (ML) and artificial intelligence (AI), is giving businesses more options in which to enhance efficiency. 

Business Process Automation (BPA) incorporates these technologies into business management systems to help a business be able to accomplish more. This boost in productivity can often be pretty obvious on the bottom line. 

Technology #3 - Powerful Collaboration Tools

With technology making collaboration much easier, businesses have begun to promote collaborative efforts. Today, there are several options for the modern business. Businesses are using complete productivity suites like Microsoft Office 365 and Google’s G Suite for collaborative work. They also have begun instituting new communications tools like Slack and Microsoft Teams that couple useful messaging software with dozens of application integrations.

Moreover, businesses are significantly expanding the technology they use to make their BPA strategy more comprehensive. Bringing in interdepartmental collaboration tools that include customer resource management (CRM) is helping businesses operate smarter and more efficiently. 

2020 could be your business’ year to shine. By integrating some of these emerging tools, you could create the efficient operations boost you are seeking. Give us a call at 734-927-6666 / 800-GET-XFER today to learn more about what XFER can do for your company.