Author: Nick Reese
Date published: January 30, 2025
When you are a new small business owner, there is a dizzying array of things to learn about to make your new endeavor a success. But no matter what type of business you are in, you will need to understand what industry-specific technology is available to you. By learning how technology is used to solve different small business issues, you'll have a deeper understanding of how a strategic approach to technology can help a new small business owner operate efficiently, stay competitive and grow their business.
In this guide, we'll explore some important technologies for key small business industries: construction, retail, professional services, restaurants, transportation, manufacturing and healthcare.
These solutions accomplish different tasks across different industries, but most, if not all, are now cloud-based, which requires a fast, reliable internet connection that fits your business needs. Once you have the right network and internet provider in place, you can leverage these technologies to unlock a host of new capabilities.
Businesses from various industries require different technologies in order to thrive. From construction businesses, which may need drone technology for site surveying, to transportation businesses with fleet management and asset tracking needs, a strategic approach to technology can help a new small business owner operate efficiently. Restaurant businesses need technology for app delivery services and healthcare businesses need electronic health record systems. The right solutions can help small business wonders accomplish a range of tasks using cloud-based internet and other technology solutions.
A small construction business can be one of the most complex types of new companies to start and manage. Advanced construction technology platforms are essential to help manage the complex task of communication, team coordination, quality control and budget management. Some examples are:
The increased availability of mobile technology is a key driver in the growth of construction technology. These digital solutions have replaced manual ways of doing tasks such as project planning, scheduling, material management and progress tracking. Because this information is stored in the cloud, everyone using their phone or tablet is working with the same near real-time information, allowing people to respond faster and more accurately to any issues that come up in the day-to-day work of construction.
Construction management software can help you to manage projects, resources and costs in one place. One prominent example is Building Information Modelling (BIM), described as “critical” by Future Market Insights. BIM creates a digital description of every aspect of the build, helping you to create and manage information throughout the whole life cycle of the project. Fleet management software can also help you make the best use of high-value equipment and vehicles, while also improving on-site security. . By centralizing your business data, construction software can help you improve coordination and enhance efficiency as you track project progress, manage tasks, communicate with subcontractors and stay on top of deadlines.
Drones construction software are becoming increasingly common in the construction industry.. By providing high-definition aerial photography and video, drones can quickly collect accurate data about the site that project managers can use for planning, tracking progress and identifying potential safety hazards. Meanwhile, augmented reality (AR) can support more efficient project management, help improve site safety and worker productivity. A fast 5G network can help support the use of drones and AR to enable near real-time decision-making.
A small construction business is often at the mercy of fluctuating prices for materials and labor, making it critical to monitor every dollar spent on a project. Advanced financial reporting and analytics tools are essential for every new small business owner but can be particularly valuable for those in the construction industry. They can help automate repetitive tasks such as invoice processing and financial reporting, while also improving information sharing and visibility into project costs, timelines, resource allocation and profitability so you can identify areas for improvement, make informed decisions and reallocate budgets as needed.
Running a small retail business is the dream of many would-be small business owners. But with tight margins and ferocious competition, a new small business owner needs a variety of retail technology solutions to optimize operations, drive sales and enhance the customer experience. These include:
A point-of-sale (POS) system is a critical technology for every small business as it helps you accept in-person payments and route those funds into your bank account. The data the POS system creates is also critical to helping you understand sales performance and manage inventory. In addition, your POS can help you collect customer data to help drive future marketing efforts and determine targeted upsell or cross-sell opportunities.
Retailers must carefully balance their inventory to ensure they have the right mix of products on their shelves at all times. Inventory tracking software and technology, such as RFID tags, can help make it easier to achieve this balance by providing near real-time inventory updates and analyzing sales data to monitor stock levels and store operations. Not only does this help a new small business owner reorder products in time to avoid out-of-stock issues, but it helps reduce the odds they'll be stuck with overstock they can't sell or have to offer at unprofitable discounts.
Personalized experiences are increasingly expected by retail customers. Customer relationship management (CRM) software can help manage interactions with current and potential customers by tracking how each customer interacts with your company—from the items they buy to the marketing emails they click on. This helps you understand their unique buying habits and preferences so you can improve the customer experience, offer tailored recommendations and deliver responsive, proactive customer service. Integrating your customer loyalty program with the CRM system can also help maintain customer satisfaction because agents could proactively be able to notify customers of any rewards that may have accumulated
Because more and more customers expect the convenience of shopping online, many small retailers are investing in e-commerce solutions. According to the Verizon 2023 Small Business Survey, 28% of SMBs added or transitioned to digital/online operations in the past year. A new small business owner can use e-commerce to meet the buying preference of their local customers. But it also allows them to capture new customers outside their geographic market, increasing their reach and revenue. In addition, e-commerce allows a small retailer to offer options like curbside pickup so shoppers can buy online and pick up their orders instantly instead of waiting for them to come in the mail.
Professional services companies like law firms, accountants, marketing agencies and consultants must carefully track dozens if not hundreds of clients and projects simultaneously. With the right technology, they can ensure these projects are carefully managed so nothing falls through the cracks. If you are starting a small professional services business, consider these technology options:
Professional services automation software acts as the hub of information and control for a new small business owner by helping them manage the vast majority of their back-office and front-office processes. By integrating project management, time tracking, billing and reporting into a single system, business managers can streamline project workflow while gaining unmatched visibility into their financials so they can understand their true business health.
A customer relationship management (CRM) platform is designed to help new small business owners manage their company's interactions and relationships with clients and prospects. This software is typically used for tasks like contact management, sales management, pipeline management, task automation, email tracking and customer service. By tracking every touchpoint on the customer journey—from prospecting to sales to support—a CRM system can help you close more deals and retain clients longer.
Professional services firms work with knowledge and information spread across documents, spreadsheets and presentations. A cloud storage solution makes it simple to store, share and sync access to files across devices. That way your team members can access documents no matter if they are in the office or working from home. By creating a single source of truth for documents, cloud document storage ensures everyone is working from the most current file—increasing collaboration, productivity and reliability.
While restaurants may not sound like a tech-driven industry, when it comes to long-term success, every new restaurant owner quickly discovers that their technology is just as important as their menu. While the future of restaurants could include drones and driverless vehicles, and automation, Here are a few ways a new restaurant owner can turn to technology today to streamline operations, enhance the dining experience and stay competitive:
Much like a retail point-of-sale (POS) system, a restaurant-specific POS system is crucial for managing orders, tracking sales and providing valuable business insights, whether you are operating a traditional restaurant or a ghost kitchen. These POS systems are specifically designed for the unique needs of the dining industry, with features like table management, menu customization and delivery integration. This helps restaurants speed up service and reduce human error so diners come back again and again. It is also important for restaurants to comply with Payment Card Industry guidelines and requirements designed to help secure credit and debit card payments.
The U.S. online food delivery market is expected to be worth $473.5 billion in 2027. For many small restaurants, delivery can be as important as the dine-in experience. A major decision will be whether to use third-party apps or provide delivery services directly. According to Deloitte, customers prefer ordering directly (40%) versus third-party providers (13%).
A quick service restaurant (QSR) has unique requirements for speed, efficiency and quality. Drive-thru vehicle detection technology can streamline operations, reduce waiting times and enhance customer experience.
Implementing small business transportation solutions is essential for helping a small transportation or logistics business manage operations, track deliveries and drivers and ensure customer satisfaction.
A fleet management platform helps you manage your fleet so you know where your vehicles are and how your drivers are performing. In addition to using this information to improve fleet operations, optimize routes and track driver productivity, you can use this data to predict vehicle maintenance requirements, helping you to avoid unexpected downtime.
GPS asset tracking software lets you track high-value assets like trucks, trailers, cargo boxes and heavy machinery. It integrates with your fleet management software to help you track how and where assets are being deployed. A fast, reliable mobile network is essential for enabling GPS trackers on assets so you can use near real-time data for on-the-spot decision-making.
The manufacturing industry has often been on the leading edge of technology and automation adoption. A new small business owner starting a manufacturing business can leverage technology in exciting ways to quickly ramp up production and build quality products. Here are a few examples:
A manufacturing execution system (MES) is a control system that a new small business owner can use to manage and monitor everything that happens on the factory floor. By tracking, documenting and controlling the process as it goes from raw material to the final product, the MES taps into near real-time production data to provide insights and ensure efficient manufacturing operations.
Manufacturers use Industrial Internet of Things (IIoT) sensors and devices to track their raw materials so they know they have everything in stock that they need to build their products. The IMS can help identify when a manufacturer is low on specific materials and even automate ordering to keep critical supplies in stock. Once the product is built, the IMS is used to ensure the products are being used to fulfill specific customer orders.
Computer-aided design (CAD) and computer-aided manufacturing (CAM) software lets manufacturers unlock the potential of Manufacturing 4.0 to design and manufacture products with more precision and speed. By reducing the time it takes to bring a product from the design stage to production, manufacturers can enhance their efficiency and productivity while reducing costs.
Whether you're opening up a new medical practice, lab or healthcare product business, technology can help you improve your operational efficiency, improve patient care and improve data security. Many healthcare businesses manage patient transactions and work with protected health information (PHI), so healthcare businesses must prioritize data security and privacy above all else.
An electronic health record (EHR) system helps healthcare practitioners store, retrieve and manage patient health information digitally. EHR systems improve efficiency, reduce errors and enhance patient care by making real-time, patient-centered records accessible to authorized users. Because data is stored electronically in a secure, centralized system, it keeps data from accidentally being exposed to non-authorized staff or other patients.
Practice management software helps a small healthcare business owner automate administrative tasks like scheduling, billing and reporting. Not only does this improve patient experiences and free the practitioner to spend less time on paperwork, but it can help practitioners have a better understanding of their business so they can reduce expenses and improve cash flow.
Telemedicine solutions can help enable a small healthcare practice owner and their staff to provide patient care remotely via a digital platform. This helps patients get seen faster without leaving their homes, which is particularly helpful when a patient is contagious or has transportation issues.
No matter what your industry, technology will play a critical part in your success. From choosing the right software to choosing a fast, reliable network to power it all, technology can help you optimize efficiently, scale effectively and better meet the needs of customers and employees. Learn more about how Verizon can help you with technology for small business.
Check out the Verizon Small Business Webinar series for more valuable tips and information you can use to unlock your full business potential.
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