In The News


06 09 2015

06 09 2015

4 Ways to Adapt Your Business to New Technologies

Staying up to date with the latest technologies is a cornerstone of any successful enterprise. While larger firms have well-funded research, engineering and IT departments that are capable of producing or upgrading to new advancements, small businesses must act largely on their own to accomplish the same task.

However, regardless of the size of the company, it’s crucial that business owners remain flexible in any economic environment.

Technology enables companies to streamline their operations and adapt to the latest realities in the marketplace.

Here are four ways your business can successfully integrate these new technologies:

  1. Onboard the latest requirements

It’s important to note that not all technologies are optional. For instance, regulatory and industry updates can alter how companies in certain sectors must conduct business. A prominent example of this is the mandated use of EMV-compliant terminals for all merchants by October 2015 — all businesses are required to have point-of-sale systems that align with the new EMV payment cards.

This update provides added credit card security for customers and makes businesses better able to stop data breaches from happening. To ensure your company is able to onboard new technologies, you must first ensure you’re compliant with the latest regulations.

  1. Test early and often

Prior to rolling out a new software update or payment option, you’ll need to work out all the inefficiencies and potential flaws. Each successive technology is intended to make operations more efficient and customer interaction simpler.

However, if you don’t spend enough time working with a beta version of the technology, you can run into logistical headaches down the road, which can cause a loss of revenue. To overcome this challenge, it’s vital that you test any new updates several months before they go live.

  1. Retrain staff members

All employees will likely have to be trained how to use new technologies. Whether it’s a revenue management system or a workflow tracking tool, these updates are only effective if they can be used in your business on a daily basis.

Set time aside to retrain staff members with hands-on, interactive education. Hold seminars, weekly meetings and recurring training sessions so everyone is on the same page. This strategy will help make the transition to a new technology painless and efficient.

  1. Plan financially for adjustments

As is the case with any adjustment to operations, it’s necessary to make sure your business doesn’t lag in the process. Additional training will cause downtime and cost money. Likewise, to pay for these new technologies, a large deposit may be required.

However, by working with an alternative lender, your small business can adapt quickly to new technologies without breaking the budget. With small business loans for working capital, equipment financing or merchant services, you can maintain optimal cash flow at all times while still upgrading your business’ technology. This will help your company avoid any financial setbacks while successfully moving forward your plans for business growth.

Find Out How Much Funding You Qualify For

Fields marked with an * are required
By clicking this button I agree to all terms and conditions.

Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.


US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.


For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.


For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.


Text Messaging:

By providing my wireless phone number to National Funding, Inc., I agree and acknowledge that National Funding, Inc. may send text and multimedia messages to my wireless phone number for any purpose. I agree that these text or multimedia messages may be regarding the products and/or services that I have previously purchased and products and/or services that National Funding, Inc. may market to me. I acknowledge that this consent may be removed at my request but that until such consent is revoked, I may receive text or multimedia messages from National Funding, Inc to my wireless phone number.

The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121. Funding amount and credit approval is subject to a full credit profile review.