Impact of Technology on Business

Technology has revolutionized business as we know it, and companies across numerous industries are looking to harness it to improve their workforce, build brand recognition and bolster the bottom line. Some areas in which technology has transformed businesses include accounting, data collection, sales and digital promotion.

Let’s take a look at some specific ways in which technology has influenced businesses:

Globalization

Information technology has enabled businesses to attain a greater reach. Now more than ever, it’s easier for companies to do business across the world. Emails, text, instant messaging, websites and applications have made global communication quicker and more effective than ever.

Collaboration and Access

Businesses have advanced internal communications quite a bit as well, making it possible for employees at many companies to work from home throughout the coronavirus pandemic. Communication networks enable managers to access and share data within their department as well as throughout their organization. Businesses have relied on advanced collaboration tools to complete work that usually only occurred in person.  

Storage

The thought of organizing and storing paperwork makes most employees cringe. Fortunately, much data is stored electronically now, making it easier for retrieval when the information is needed.

More organizations use cloud storage to supplement their facilities, which is made possible by cloud storage. Users can remotely upload and view content, store and retrieve data as needed. This is a much more convenient way for organizations to access information. Now instead of purchasing internal servers, hard drives and thumb drives, you can access information almost anywhere.

Cybersecurity

Every organization has information that they want to be protected from competitors, hackers and others trying to damage the company, which is why cybersecurity is a major priority for businesses.

Virtual storage systems or cloud computing systems make information accessible for all within an organization, and cybersecurity protects this information. Cybersecurity professionals are continually working to update systems to keep the information safe from unwanted intrusion.

Support

Technology makes it possible for businesses to support external customer service efforts as well as help individuals within the organization. There are hundreds of platforms that streamline the workflow but also facilitate the work process. Getting feedback is also easier since communication is also more straightforward.

For example, IT help desk departments have streamlined their work thanks to ticketing systems that provide timely and accurate information. The remote work boom during COVID-19 has demonstrated that not only can employees work remotely, but that technology support is capable of dealing with just about any technical issues that may arise.

Mobile Technology

Thanks to mobile technology, it has truly become easier to take your work anywhere. If you don’t have a laptop or pad at your disposal, it is now possible to use your phone to complete your work. Mobile technology has picked up momentum owing to its convenience, efficiency, and speed. You can have your work with you in your back pocket!

The trend of BYOD (Bring Your Device) is on the rise at many organizations, where employees can bring technology that they use at home. Some of the benefits include:

• Improvement in productivity
• Boost in employee satisfaction
• Lower enterprise costs
• A perk that could attract prospective employers

Technology has driven a lot of advanced processes in many businesses. As technology becomes even more advanced, its role with businesses will continue to grow.