In today’s modern world, technology is developing quicker than ever before. This means a number of new challenges and threats for UK businesses, from international competition to cyber security threats.
However, advances in technology also mean many opportunities and the capacity to help British businesses succeed. There are a number of recently-developed tools and technologies that can greatly assist UK companies, including micro-businesses, in a variety of ways.
Here are the top 7 cutting edge tools and technologies helping British businesses in 2020.
1, Big Data Tools
Big data has been one of the key areas for technological development worldwide in recent years. Big data has the power to use information to improve company processes, better tailor marketing to their audience, and assist with better product development. However, many businesses, especially SMEs, are failing to take advantage of this technology even with a number of useful and accessible big data tools now available.
One of these tools is Kissmetrics, a comprehensive analytical tool that helps businesses to analyse data and use this to improve their strategies in order to become more successful. In particular, this tool’s audience segmentation feature is beneficial for SME owners, letting them analyse their audience and identify the most loyal segments. Kissmetrics has a relatively expensive monthly subscription that may be out of reach for some small business owners, in which case Google Analytics is a great, free alternative for using big data technology to analyse your website.
2. Cloud Computing
Cloud computing is another major technological development in recent times. This technology allows a range of processes – from storage to applications – to run exclusively in “the cloud”. This means this information and these processes operate purely online without installing software or storing information on hardware at all.
Cloud computing has many benefits for British businesses, from making processes more efficient to reducing software and similar costs. All team members can work on the same resources and share information, as well as being able to keep information more secure. Amazon WorkSpaces offers free cloud space for limited periods.
3. Mobile Card Machines
Credit card machines have been around for a while and could hardly be called a cutting edge tool. However, some recent developments in this technology have opened up many opportunities for UK businesses. Most notably, mobile card machines are a recent invention which have made it possible for businesses to take credit card payments when it was previously difficult or impossible to do so.
Mobile card readers work on the 3G network to connect to financial institutions, meaning the machine can be taken with you on the road and payment can be taken literally anywhere. This means that mobile businesses such as mobile hairdressers, taxi drivers, window cleaners, plumbers and more can accept card payments, freeing them up from bounced cheques, unpaid invoices and the inconveniences and security concerns of dealing in cash.
4. Cybersecurity Tools
One of the greatest risks facing British businesses in 2020 is cybersecurity threats. Data breaches, cyber attacks, and hackers are becoming increasingly common, with attackers being able to break into unsecure networks from anywhere in the world. Fortunately, as these cyber threats have developed in recent years, so has the technology to address them.
BitDefender is one leading tool that can protect businesses from cyber threats. This cybersecurity tool uses advanced behaviour technologies to monitor computer processes, immediately detecting anomalies which could indicate a breach or other security issue.
5. Multi-Channel Security Camera Systems
Threats to modern British businesses come not just from the virtual world, but the physical world too. Just like businesses need to protect themselves from cyber threats, it is equally important that they stay protected from physical theft, robbery and intruders.
Security camera systems have developed extensively in recent years, making tools available for businesses to protect their premises and their assets. These include multichannel security camera systems that are fully network-compatible, meaning you businesses can monitor their cameras online, anywhere, anytime and immediate address any concerns. There are even security cameras now with 4K video capability, giving much greater clarity and quality of footage.
Blockchain is technology that was created to facilitate transactions of the cryptocurrency Bitcoin. This technology, however has since developed a range of applications, including some that can be useful for British businesses. Developers are creating new blockchains all the time, some examples being ethereum, dash, litecoin, and monero. Each type of blockchain has its own advantages, such as security and privacy.
Blockchain can assist SME’s by making transactions and data more transparent, and therefore helping small businesses to compete with large corporations. Blockchain also offers high levels of security for transactions and water-tight contract management.