Small businesses and retail companies may seem to have limited financial resources when competing with bigger organisations. But these days there are those who are not afraid to embrace smart systems and advances in technology to give them a vital edge.

Computer and internet technology is ever changing and constantly growing, and herein lies the opportunity to be part of its development. The retail business needs only to find ways in which these technologies can be used to cut costs while improving their communications with customers.

The power of Mobile

It has been said before that companies who fail to recognise the importance and enormous potential of Mobile will invariably suffer to compete in the fast-paced world of business. In addition to innovative ways to use mobile to interact with consumers, mobile based payment platforms will reshape how business is conducted.

Payment systems built on mobile may have seemed slow to take root, but the increasing trend is that of proven and reliable platforms emerging in the market. Mobile technologies will in the near future not only be limited to smartphones as most understand it. But a myriad of innovative devices which interface with the internet will be used in monitoring day to day business activities.

Interesting ways to manage staff and measure productivity, for instance, can be efficiently conducted using mobile applications that are tailored to the needs of a retail company. There are already companies who have devices for each employee to wear while on duty. They can pinpoint the exact location of a particular worker at the touch of a button.

They can also gather valuable data on how well their staff performs during shifts. And of course, devices such as these also allow them to quickly identify less productive employees so steps can be taken quickly to enhance productivity.

Customers can use retailer mobile applications to rapidly source items and the best prices. This makes it a highly competitive arena for companies vying with each other to entice customers with better prices and service offerings. The retailers that can ensure an easy smooth flowing payment process will also have the edge in the mobile marketplace.

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