Three business trends to follow | SupportBiz

Managing Growth

Three business trends to follow

Today, businesses demand intelligence, speed, and flexibility. Radical changes in business environment and information technology have changed the way companies operate, innovate, and create value. Companies are increasing investments in technology to provide real-time analytics, predictive analytics, risk management and compliance.

To succeed in today’s business environment, companies should spot opportunities and trends on a timely basis, to get ahead of the competition. The three major recent trends prevalent today are:

Customer service:

Customers today are demanding more information, and insisting on complex, customized solutions, with instant 24x7 sales support. Companies have to demonstrate genuine customer service, as customers want a personal touch. Companies are transforming themselves by involving consumers in creating their own experiences.

Rapid technology innovation:

Innovations in technology are bringing changes to lifestyles every day. For small businesses, computers can analyze data to make predictions. This predictive technology can forecast how much power or materials your business will consume, and help you arrange your finances better. Data obtained from Google Analytics will show you how well you are connecting with your customers. Cloud storage with its limitless, pay-as-you-go capacity can be used by SMEs not just for back-ups and archiving, but also for primary storage.

Corporate compliance:

Many SMEs continue to use obsolete technologies, with primitive pollution control methods. The government is increasing legislation for environmental governance and compliance. Small investments in new technologies that reduce the consumption of energy, water or materials are hence critical. Companies with clean technology will have a definite edge in the marketplace in the near future.