One of the areas that get to benefit more from technology is the business sector as more and more innovations are designed that help to optimize business operations. Whether it’s through new improvements in hardware or software, business is usually at the fore front of beneficiaries and this has helped most to be able to optimize on their labor costs and maximize on their profits.
We look at 6 tech trends that will stand out in 2018 in the business sector.
1 Innovations in payment methods
Thanks to advancements in payment methods, 2018 will see more innovations that allow seamless business transactions that will not be affected by borders or bureaucracy. Therefore in addition to the payment methods that are in existence, many corporates are likely to embrace virtual currencies or cryptocurrencies in business transactions.
2 More advancements in security
Because of internet penetration and the need to have more and more cashless transactions that mostly take place over the internet, 2018 is going to see an emphasis on security so as to strengthen the security of financial information and data for both businesses and their customers.
3 Adopting on the go technologies
Because more and more people are today living and working on the go, 2018 will see business developing innovative ways of reaching the customer while they are on the go and trying to make things more convenient for them. This will see more online shopping platforms and convenient payment methods for mobile devices that work across most of the social networks.
4 Adoption of more automation
One of the many challenges that businesses face is usually in inventory management as most of these processes are still not automated. This is likely to be solved in 2018 as we will see large businesses such as bars, shoes and clothing stores adopting automated hardware or software that enhances their inventory management and control.
5 Adoption of more wearable technology
So far, wearable technology is still at it’s infancy as it is yet to achieve its full potential. Whereas many people use wearable technology mostly for lifestyle application, 2018 will see more adoption of wearable technology in business such as facilitating cashless payments, enhancing biometrics, personal identification and so on.
6 More use of the cloud
Many businesses have adopted cloud technology but they have barely scratched the surface on what cloud technology can achieve. Whereas most use it for data storage, 2018 will see more business adopt the use of the cloud with a specific interest in enhancing connectivity as well as reducing their infrastructure related costs.
Whereas most of these are not new innovations, most have been recently enhanced with specific business applications being designed for them and that’s why they are going to be big tech trends in 2018. What they promise is to optimize business operations thereby increasing profits.
We trust this has been a helpful piece of insight.