6 Ways Technology Is Impacting Businesses

Over the last decade, the use of technology in business and e-commerce has been growing exponentially. From eliminating the lack of centralized work communication systems to introducing new formats of marketing, one can’t help but be swept away by the tidal wave of progress that technology has brought. Not only does it provide competitive advantages, but also provides chances for future expansion and enables small businesses to compete with larger organizations. 

To get a more detailed look into the role of technology, we’ll go over the following aspects that have been introduced and improved into the business world by incorporating technology:

1. Mobile-First Business Environments

Mobile first business environments are an approach to design, develop and market business aspects that allow businesses to build an experience for the customers that have mobile as its starting point. Mobile-first approach is known as the “front door” to physical business and it is expected that soon it will take over physical business in all its aspects. This involves aspects like effective sales enablement, invoicing, marketing content and customer service. Smartphones have become excellent tools for managing every aspect of a business remotely. This approach is easy, marketable and has created a hyper-real web of real time information. 

2. Electronic Employee Handbooks

Employee handbooks are a way for employers to communicate business policies, expectations, company vision and mission to the employees. In the past, employee handbooks were a manual business, that not only took a lot of time to curate but even a small update could take upto weeks and even longer be communicated to the employees.

With online employee handbooks, all HR has to do is follow a template and make real time updates that can be communicated to the employees in a manner of minutes. This makes the recruitment process of employees really easy because it’s easier to communicate all policies to the newly hired employees. Moreover, electronic handbooks have the feature to get the handbooks signed digitally, which ensures that the new recruits are actually going through the handbooks.

3. Reduced Operating Costs

Use of technology also reduced operating costs for businesses. Basic operations like record keeping, accounting and payroll etc can be automated which saves a lot of time and paper costs. This is especially useful for small businesses and new startups who don’t yet have a lot of resources or employees to handle information manually. 

Using enterprise softwares for basic operations, there is less chance for error and dishonesty in recording daily expenses by field reps. 

4. Secure Information

Securing information not only from data loss but also from outside attempts at damaging a business is now possible due to use of technology in business. Softwares are now available to protect sensitive information that can be only accessed by concerned employees and not by everyone as it was when information was recorded manually. Business software is user-friendly and allows people with basic knowledge of technology to easily access and manage information. 

5. Improved Communication

Communication software enables employees to communicate with each other and with consumers efficiently. This software help saturate the economic market and allow fast communication, especially in remote work environments. While working remotely, especially during the pandemic, communicating tasks, managing deadlines, and conducting meetings has been made easier using these platforms. Social intranet software also enables employees to update internal documents that can be easily communicated to all concerned departments without any delay. 

6. Broadening Consumer Bases and Outsourcing

With the use of technology, businesses can now reach out and expand their customer base internationally and reach different economic markets. This can produce an influx of revenue and benefit both small and large businesses. 

Outsourcing work is also easier now with business software. Since remote work is now easier using social intranet software, businesses can now hire people from all over the world and make their workforce more diverse. 

 

Incorporating technology into business is not only making business easier for companies but also for consumers. It gives access to more resources, secure information, and easier communication. This is really beneficial for businesses in the long run because the technological revolution is here to stay!

 

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