What are the hottest business concepts and products for 2023? In addition to virtual firms and sophisticated camera systems for transport fleets, streamlined HR processes and biometric security products are at the top of most owners’ lists. Here are pertinent details about each one.

Virtual Firms

The idea of virtual firms has been around for almost two decades but has only enjoyed widespread popularity in the past two years. What is a virtual firm? Pioneered in the accounting sector, virtual firms began as one-person entrepreneurship companies in which professional tax preparers worked remotely. They serviced clients by securely transmitting tax documents via email and other file sending protocols.

As the one-person shops expanded, all the preparers worked from their homes and dealt with customers via chat, telephone, email, or video hookup. Soon, the tactic spread to other service-based industries in which experts could do all their work online. In its latest iteration, the virtual firm includes some of the world’s largest financial, legal, and engineering companies. These huge organizations have no offices, no headquarters buildings, and very low expenses.

Sophisticated Cameras in Vehicle Fleets

When it comes to innovative business solutions, fleet managers are at the forefront of the challenge. That’s because they need 24/7 visibility of their vehicles to reach efficiency and safety targets. Likewise, the question of security, both vehicles and cargo, is a major concern. In the past few years, one of the most helpful tools for these busy professionals has been the wifi camera system, notably the versions that feature NVR, or network video recording capability.

Fleet supervisors leverage the utility of NVRs to maximize overall efficiency, keep drivers safe, and meet security needs at the same time. If you own or manage a transport vehicle fleet, you can acquire the relevant information about what to look for when shopping for a suitable system for your company. Note that the most useful features on newer units are video management tools, remote access to previously recorded or real-time footage, the best IP cameras, and cloud-based storage ability.

Streamlined HRM (Human Resources Management)

In human resources, the impact of technology has been transformative. Compared to a decade ago, today’s HR department operational methods are unrecognizable. In addition to sophisticated applicant tracking system (ATS) software, managers are embracing tech to manage human resources by rewriting the textbook on how to describe jobs, recruit workers, use keywords to search through thousands of digital resumes at once, and interview potential hires via video connection.

The days of having to read hard-copy resumes, schedule in-person interviews, and spend hours ranking candidates are long gone. Even the most basic ATS systems can juggle multiple tasks for HR teams, who start the process by inputting job descriptions of ideal employees for a particular job opening. There are CRM (candidate relationship management) software products that help HR reps handle communications with multiple people who are seeking positions with the company. Some of the top ATS products include CRM features for the sake of convenience.

Biometric Security

A decade ago, biometrics were still a relative rarity in small and medium-sized companies. In the current decade, their use is increasing at a rapid pace. One reason for the massive and widespread acceptance of the technology is price. Devices that are capable of facial scanning, fingerprint recognition, voice identification, and using other human body-based features to enhance security are big hits with owners and entrepreneurs in every industry.

For more than a century, companies have struggled with ways to restrict access to authorized personnel only, but the battle was a tough one. People intent on defeating security measures created fake ID cards, forged signatures, used stolen pass cards, and engaged in other nefarious tactics to enter places where they were not allowed. Biometrics could attain near-universal implementation by the end of the decade.