Guy Moreves emphasises the importance of securitytraining when it comes to payment technology.

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The technology in our workplace is rapidly evolving. Keeping up to date with new software, security and payment systems can be daunting if your employees are not properly trained.

Whether it’s a sophisticated payment system that tracks new customers or a new card technology that uses biometrics, it’s crucial that your small business remains competitive by providing relevant training to your employees as the technology your customers are using advances.

Here are a few ways your small business can keep up to date with technology, as well as practical tips to implement them in training.

How to identify innovative and relevant technology trends

With 31% of UK business owners admitting they would embrace new technology for added security, it’s important that as a business owner you are identifying the technological trends that are relevant to your sales, customer retention as well as employee satisfaction.

For example, if the primary goal for your business is to track and grow customer sales, you will need to ensure the right training and technology is provided to monitor growth and cater to the various new ways your customers are paying for your products and services.

Why adapting to technological advancements is crucial to remain competitive

69% of small businesses have already adopted new technology when it comes to sending and receiving payments. If you’re not consistently learning about new technology and payment trends in your industry, you may already be behind the majority.

Ensuring that you are using a variety of tools to analyse what new technology your competitors may be using is crucial to keep up to date. For the long term, investing the time and effort will pay dividends when providing the technological trust points and authority your customers are demanding.

Communication is key

Training your staff diligently begins with the right communication. Using the available resources and systems available to communicate training requirements and deadlines will ensure your employees remained engaged and are receiving the opportunities to grow and remain loyal to your business.

Consistently communicating to your customers will also help you understand the expectations they have from you as a business in terms of security, payment, and technology.

Depending on the type of business you may have, maintaining a CRM strategy can help you profile the levels of technological advancement your customers are on. Managing these expectations through a strong internal and external communication strategy is key.

Audit your current systems

Assessing the systems your business currently uses to operate is crucial to understand where the opportunities for improvements and more importantly, advancements lie.

Perhaps running a meeting amongst your key business holders to discuss what tools are providing the most value and what others can be used for further customer insight will provide the most value in the long term.

Remember, as a business embracing new technology will pay dividends in the future. Especially in a society constantly buying into new ways to increase security, improve efficiency and decrease spend.

See the full study on changing UK consumer and business payment habits here

About the author

Guy Moreves is the Chief Marketing Officer at Paymentsense