5 ways tech strategies helping businesses to navigate economic uncertainty

Other · Mar 26, 2025

Canadian small- to medium-sized businesses (SMBs) are bracing to face significant challenges due to increasing economic uncertainty. This may lead to fluctuating sales, unpredictable costs of materials and goods, and potential disruptions to established business relationships. The impact of economic uncertainty on Canadian SMBs could be multifaceted. Although the

Bank of Canada's

latest forecast shows modest improvement, with growth expected to increase from 1.1% to 1.7% next year,

RBC's economic outlook

highlights potential headwinds, particularly in international trade relations, that could impact this recovery trajectory.

The Bank of Canada's recent consultations reveal that while organizations are becoming more selective about major investments, they're also actively pursuing operational excellence. Many are implementing strategic improvements through process optimization, technology adoption, and product portfolio refinement. This measured approach to navigating uncertainty demonstrates the resilience and adaptability of Canadian businesses. Rather than implementing dramatic changes, organizations are making calculated adjustments that strengthen their market position while priming themselves for long-term sustainability.

By focusing on streamlining operations and improving productivity, Canadian SMBs can better navigate these uncertain times and remain competitive. To address these challenges, business owners and leaders are adopting both short- and long-term measures to increase operational efficiency and find potential cost-saving opportunities.

In this article, we will explore five strategies that tech-savvy businesses are implementing to stay ahead and help mitigate the potential impact of economic uncertainty. These approaches leverage technology to turn economic challenges into opportunities for growth and innovation.

Let's dive into the 5 tech strategies driving business growth in uncertain times:

1. Strengthen your foundation with network optimization

A strong and stable network is the backbone of any business. Leading businesses recognize that a robust network is more than just a utility – it's a competitive advantage. They're investing in high-performance, scalable networks that can support modern business demands. These optimized networks minimize costly downtime, enhance productivity and provide the foundation for digital transformation initiatives.

MacLean Law

has streamlined their IT spend and increased billable time with TELUS Business. After completing a comprehensive IT and network infrastructure audit, TELUS Business’ team of specialists built a roadmap to determine the best solutions for their IT needs and what the firm needed to prioritize to improve their operations.

We conducted an in-depth analysis of all legal applications used by the firm to evaluate their effectiveness in supporting their operations, as well as a full security assessment to identify potential vulnerabilities. We then assessed the firm's network infrastructure to ensure optimal performance and reliability. An evaluation of their network architecture identified potential bottlenecks or points of failure, allowing for enhancements of the network's stability and uptime.

Companies, like MacLean Law, with strong growth rates report that their network optimization efforts have directly contributed to operational efficiency and improved customer experiences.

2. Scale operations through cloud innovation

Adopt cloud-based applications for data storage and collaboration, reducing the need for expensive on-premise hardware. Cloud-based solutions can centralize data and improve collaboration, making it easier to manage operations and projects. In fact, as of 2024,

over 75% of organizations

report that cloud solutions, combined with big data and AI, have become essential for modern supply chain management. Investing in cloud technology will also give you more control over your infrastructure expenditures. In addition to cloud-based applications, the rise of voice-over-IP (VOIP) communications systems can help you to stay connected to your team, no matter where you are while replacing dated landlines with consolidated voice, video and chat. As your business grows, cloud technology gives you the flexibility to scale up to meet business demands without an increase in infrastructure.

FrontWell Capital Partners

adopted cloud-based solutions, allowing them to reduce their server count by 50%, minimizing the need for new capital expenditures down the line.

“We needed a proactive IT partner that could help us plan ahead and ensure that our technology supports all aspects of our business. TELUS Business had the vision and the skill to make that happen.”

John Ho
Co-Founder & Chief Financial Officer
Frontwell Capital Partners

3. Drive growth with AI-powered analytics

Implement AI-driven analytics tools to gain insights into customer behaviour and improve inventory management. AI-driven analytics is driving growth and helping SMBs to maximize success.

According to BDC

, 44% of small business enterprises (SMEs) who use AI, report that it not only has the potential to save time and improve efficiency – It can also positively impact customer service, growth, forecasting and marketing efficiency. Solutions such as fleet management and asset tracking can help integrate various business processes, ensuring smoother operations and better resource allocation.

Fleet management solutions integrated with AI

play a significant role in route optimization and planning around traffic patterns. AI-powered video telematics can assist fleet managers in identifying areas for improvement, leading to reductions in fuel consumption and cost savings. By leveraging Gen AI and AI-powered technologies, fleet managers can make data-driven decisions, optimize operations and improve overall efficiency.

“With growing adoption across all market segments, companies are enhancing their fleet operations with meaningful improvements to both safety and efficiency.”

Dan Carruthers, PhD
CEO
Raven

The emergence of Generative AI (Gen AI) and its potential to unlock vast data sets may create massive value for fleet businesses. Gen AI can analyze data collected by telematics platforms and generate valuable insights, such as predicting vehicle maintenance needs and collision probabilities. These integrated approaches have shown remarkable returns, with

ABI Research’s 2024 analysis

showing $49.30 of ROI for every dollar spent on 5G-supported solutions in manufacturing contexts.

4. Streamline operations with ‘smart’ integrations

Utilize smart devices to monitor vehicles and assets, and streamline operations in near-real-time, particularly in manufacturing or logistics-heavy businesses. Industry leaders are revolutionizing their operations through IoT and smart device integration.

Strike Group

, a Calgary-based construction company, achieved 10% savings in fuel consumption and maintenance costs through vehicle telematics.

The Manufacturing Institute

reports that companies implementing these technologies see cost savings of approximately 38% through enhanced machine and employee productivity. By connecting their assets and processes, these businesses are achieving new levels of efficiency, predictive maintenance and real-time decision-making capabilities.

5. Consistently make cybersecurity a top priority

Top-performing businesses understand that robust cybersecurity is fundamental to sustainable growth. With

60% of SMBs

closing within six months after a cyber attack, market leaders are making security integral to their technology strategy. They're investing in comprehensive security solutions that protect not just their data, but their operations and reputation. This proactive approach to security is enabling these businesses to confidently pursue digital initiatives and maintain customer trust in an increasingly complex threat landscape. Businesses like

Cambie Surgery Centre

face the challenge of staying competitive and efficient while navigating the complexities of technology in the healthcare space.

TELUS Business’ Virtual Chief Information Officer (vCIO) team created a tailored roadmap to suit Cambie's specific IT needs. This entailed moving away from older and less flexible systems, upgrading aging computers and starting a robust cybersecurity implementation with the addition of cloud backup and multi-factor authentication procedures. Understanding the importance of cybersecurity and implementing appropriate measures can help protect your sensitive data and systems from cyber threats. This includes implementing stronger firewalls, encryption, multi-factor authentication and regular security audits.

“Not having the proper support for our applications and hardware could result in a devastating loss. The whole world is set up around technology and so are most of our processes. If our tech fails, we won't be able to work.”

Kirsty Carpenter
Executive Director
Cambie Surgery Centre

Focus on what you do best with TELUS Business

By taking a proactive approach and using the right technologies and partnerships, your business can turn the challenges posed by uncertainty into opportunities for innovation and growth. The key is to remain agile, continuously assess the effectiveness of your strategies and be willing to adapt as the situation evolves.

Many of these solutions, particularly those involving technology upgrades and bundles, can be more easily implemented with the support of a trusted partner like

TELUS Business

. From mobility, internet and office phone solutions to the security of your team, data, and assets, we provide comprehensive support with dedicated specialists, a robust network and the expertise to help your business scale.

TELUS understands the unique pressures facing Canadian businesses, and is committed to providing the support and solutions needed to thrive. We can help you get access to the next-gen tech and expert advice to help your business thrive. Plus save on the latest tech and easily switch providers with a dedicated Customer Success Manager. Learn more at

telus.com/Grow

– You may qualify for other special offers and exclusive

Owner Perks

, such as savings on insurance, fuel, travel accommodations and more.

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