Top 5 Trends in Technology

According to the 2013 ELFA Software Guide, the following are the top tech acquisitions, upgrades or trends for this year.

1. Software

Capital improvements are on the upswing with the increasing economic outlook and software companies report business is on the rise. Companies who have put off updating their IT platforms may find that this the ideal time to invest in overdue software upgrades.

2. New Business Intelligence Tools & CRM Solutions

Implementing automated workflow systems and more streamlined processes through new technology will allow for more accurate reporting, data collection and improved customer tracking.

3. Self-service Platforms

Some companies today are looking at how investing in new self-service technology can help reduce staff and other overhead costs and put certain businesses processes in the hands of customers, vendors and partners.

4. Cloud Computing

Cloud computing is certainly the new model for many companies who want solutions that are cost-effective, flexible and easy to expand. With cloud computing, users can access data from anywhere without the hassle of maintaining, hosting or supporting servers and software in house.

5. Lease Accounting Changes

The Financial Accounting Standards Board and the International Accounting Standards Board rule changes are expected to take effect in 2017 and this may effect current and future equipment leases. Now is a good time to evaluate your current IT system, especially old platforms that are difficult to change, and discuss your options with a commercial finance partner.