Small businesses continue to leverage innovative technologies to increase efficiency and productivity and reduce costs. According to a Small Business Technology report, many companies are automating their business processes, allowing them to accomplish more with fewer employees and resources.

"Automation is using tech to take over responsibilities and requirements," said Ed Abrams, vice resident of the small and medium-sized business division of IBM. "These are things [that small businesses] can simplify and get away from managing."

The report said automation can help SMBs with payroll, human resources and inventory functions, among others. Abrams said there's a misconception among companies that automation is expensive and mainly for large enterprises, when it actually provides many advantages to small businesses with limited staff and resources.

Companies interested in implementing automation technology should coordinate with IT service providers to develop a customized solution, the report said. SMBs should search for a provider with expertise and experience dealing with automation for small business solutions.

According to a recent report by Venafi, a provider of key and certificate management solutions, automation can significantly improve security, as it reduces the risk of human error in several processes.