By Lexie Lu

You can find as many ways to integrate technology as there are new advances in electronics. Integrated technology means different things in various industries, but a broad definition is combining different functions through software. A small business might take processes already in place and work in technology for better efficiency.

Experts predict worldwide IT spending to reach $3.88 trillion in 2020. Companies are ready to invest in technology that improves both their businesses and the lives of their customers. Where will all the IT budget spending go?

-Customer relationship management 

Customer relationship management (CRM) software has become much more affordable in the last few years, even for small firms. Retail businesses, in particular, benefit from integrating CRM systems into their current customer service models.

Storing information in a database allows companies to reach out to past customers with new offers that make the most sense for each individual. However, CRM systems also work for predicting future buying behavior and tracking sales patterns.

-Augmented reality

Thanks to more advanced computers and high-resolution screens, augmented reality (AR) has become more mainstream. Apps such as Noovie are popular with moviegoers as they allow people to play a game that appears on the big screen.

Although this type of technology is in use across a wide range of industries, expect to see AR more often in healthcare, real estate and furniture retailers.

-Blockchain payment systems

When you think of crypto-currency, you likely think of Bitcoin or PayPal. However, many new technologies are emerging and already in use. Zelle allows people to send an instant payment from one bank account to another and is already in use by brands such as PNC and Chase. This type of payment structure benefits service industry professionals like hairdressers.

Blockchain is also becoming more commonplace across multiple industries, making it easier to track revenue and receive payment from clients. Facebook plans to soon release their own blockchain payment system called Libra.

-Equipment tracking

Industries such as construction benefit from tracking equipment and delivery trucks. Knowing where your drivers are, and the use of your machines allows you to provide fast, efficient service to customers.

Some systems look for weaknesses in the equipment so that you can replace parts and get machines repaired before they experience downtime. Software solutions save your company time and money by taking preventative measures.

– Online learning

For many years, education-based companies used integrated technology for hybrid learning models. As online learning has become more mainstream, companies jumped on board and now use online models for training new employees or advance the education of top performers.

Business sectors that perform intricate tasks, such as healthcare, can benefit from online demos that mimic real-world situations.

-Hybrid cloud computing

Nearly any type of small business benefits from better cloud computing. Even a small local restaurant has massive amounts of data. Cloud storage of past seasonal trends, tracking food purchase costs and adding information for a customer loyalty program takes your brand to the next level.

Data stored in the cloud integrates with business intelligence. Run reports to discover who your most loyal patron is or let the computer find the item that is costing you money.

Technology marches forward

Technology is proliferating, making it challenging to keep pace. Many experts predict 2020 will be a year with considerable surges in machine learning and computers that are much like a human brain on steroids.

While you might not have the funds to invest in every discovery, you can select the ones that make the most sense for your business and will result in additional profit.

______

Lexie Lu is a freelance designer and writer based in Williamsport, PA. She co-founded the blog, Design Roast, a resource for web designers and marketers, in 2015. She specializes in graphic design, web design, branding, UX design, and mobile app wireframes. She earned her BA from Lycoming College. While not working in her home office, she enjoys walking her goldendoodle, cooking for friends and family, and watching way too much HGTV.

Lexie’s work and writing can be found on well-known sites such as Business.com, Website Magazine, Marketo, and Envato. Feel free to connect with her on Design Roast or via Twitter @lexieludesigner.