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Essential Technology That Every Small Business Needs

  • Highlights

  • Learn why small businesses rely on technology

  • Discover the top 5 technology types for small businesses

  • Know whether your business needs specialized equipment

  • Know the benefits of online technology

A small business is always on its feet to stay ahead of the competition, market itself to the right audience, clock more sales, produce more in less time, and have all internal processes more streamlined. You can navigate your business to the path of greater productivity and faster growth by leveraging the right tools and technologies. Take a look at the top 5 tools we recommend.

Mechanical or specialized equipment

Some businesses need a full spectrum of physical machinery in order to provide goods or services. An ophthalmologist, for instance, needs a variety of instruments like tonometers and auto-refractors alongside ophthalmic examination chairs for his patients. If he is a cataract specialist,he will need even more specialized equipment like an IOL Master for scanning the eye.
On the other hand, a stationery manufacturer will need sealing and cutting machines, file clip making machines or index collectors for producing notebooks and files.

Depending on your industry and expertise, investing in the latest and most productive machines can improve your quality of work and save you time and money. While maintaining and upgrading your machinery at regular intervals is important, keeping up with the latest technology is also key to overshadowing your competition. Choose between buying or leasing necessary equipment, and think about whether taking a machinery loan customized for this purpose is right for you.

Mobile friendly websites and apps

Consumers are the key for every business’ success, and Customer Relationship Management systems are essential for small enterprises that have multiple clients. CRM software helps you store all your past, existing and prospective customers' information in a centralized system. It also helps you in tracking sales, predicting buying patterns, automating follow-ups and other communication, and streamlining internal and external sales processes. While you may be able to manage a limited number of customers using Google sheets and Excel documents at this stage, your business can eventually benefit from CRM software that are easy to use like Zoho and Pipefy. The right CRM can help you cross-sell and up-sell to current and old clients and create more personalised communication for prospective clients. However, as a CRM platforms do not come cheap, you can take a business loan to fund the purchase of such a platform for your business.

Additional Read: 5 Ways To Advertise And Market Your Small Business

Benefits of Working Capital Finance for your Business

Eligibility Criteria for a Bajaj Finserv Business Loan

Business loans from Bajaj Finserv are designed specially to help growing businesses meet their financial requirements. Easy to apply for and hassle-free to avail, these loans come with several unique benefits that make them the ideal mode of business finance for small and medium sized enterprises, such as a Flexi loan facility that lets you borrow when you need, and prepay when you can. They require only a minimum of documentation to apply for, and come with easy eligibility criteria, which you can view below.

Cloud-based solutions

More and more businesses are moving their data to cloud servers today, and yours should too. Accessibility, efficiency and security are the three tenets that make cloud-based storage a must for small businesses. When you have your data or business software on the cloud, you save the cost of the hardware, security and maintenance. You may no longer need to have an IT department since cloud storage is both reliable and agile.

While there are free servers like Google, Dropbox and Amazon Cloud, you can also get paid cloud servers like IBM for your firm. Cloud computing is even more helpful if you and your team operate in different regions across the world or travel frequently.

Additional Read: 5 ways to prepare your small business for its growth phase

Email marketing software

While social media marketing can help you create awareness for your business, optimizing email marketing can help you acquire customers. According to the Annual Research Study on State of Online Marketing in India 2016, 53% of online marketers found email marketing a more effective source of digital marketing.

Combined with the low cost compared to traditional marketing like radio or TV ads or sending postal mail, email marketing is on the rise. You can easily sign up with and use software like MailChimp or Juvlon to automate your campaign and customize customer emails. This method also helps you track and measure interested customers and helps you target them more effectively.

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Habits for Small Business Owner to Grow in the Market


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