SMBs Going Smart with Trending Technology

CIOReview Team | Wednesday, 10 June 2015, 12:12 IST

FREMONT, CA: Every major industry is finding a new lease of life with smart devices and technologies and reaping fortunes from them. Small or Medium Business are no different as they too feel the pressure of competition and challenging demands from customers. To keep up with the trend, SMBs have begun to embrace technological expertise from mobile payment to clienteling solutions to techniques that are pliable with the latest payment processing mandates and proposals.

"Enterprises are looking to replace aging, custom-developed applications with more modern and nimble applications that allow them to move quickly into new markets with pop-up stores and omni-channel solutions that provide consumers and business buyers with a consistent experience regardless of where they research, shop, buy and return goods and services – online, mobile, in the store, through the call center, and more," says Christine Dover, Research Director for International Data Corp, a market research, analysis and advisory firm.

SMBs are long past the stage where retailer specific needs stopped them from implementing clienteling solutions. But now with many open platforms supporting mobility will see to it that technology is more accessible to the SMBs.

Similarly analytics is no longer an innocent word but is a reservoir of value and hidden fortune. The SMBs are also making use of these insights from retail analytics. It is being increasingly incorporated into the point-of-sale system. The CEO of POS Warehouse/AQB, Marjorie Adams also predicts a rise in demand for dashboards that allow reports to be visible across sites and over multiple devices.

There has been an accelerated growth in the presence of mobiles in retail sales. Figures of online shopping via smartphones are constantly on the rise and are thus another reason for inclination of SMBs to optimize their online presence to pursue mobile visitors. Furthermore, they are also eyeing to harness the Near Field Communication and EMV (Europay/Visa/MasterCard) standard which accommodates chip-and-PIN transactions. Retailers will also experiment using the GPS element on smartphones to mark geo-sensitive promotions or offers to store visitors.

Trends and technology is sure to give a face-lift to industry. Nevertheless, success belongs to those who rise up to the times, make maximum out of what is available and suitable, together with meeting expectations and demands of the industry. Then, the ball is sure to remain in their court.