If you think back to how businesses ran a few decades ago, you will probably have a wave of anxiety run over you. With very little technology to rely on, businesses had to depend entirely on paper documents and overflowing files to stay organised and on top of business operations. Fast forward a few decades and now, thanks to technology being more advanced than ever, businesses are stepping in to the digital age and running more efficiently than ever before. So, how does technology impact a business? Is it all positive? Or, does it depend on the industry you are in? Read on to discover how stepping in to the digital age can impact a business.
Communication
Technology has improved communication between clients, co-workers, and customers in a variety of ways. The majority of people now own mobile phones, meaning communication is available no matter where you are or what you are doing. As well as this, there are a variety of communication tools available, including email, social networks, and instant messaging. Having such advanced communication is essential for a business to keep all necessary people in the loop and avoids the problems with miscommunication and false accusations.
As well as this, customer service rates increase drastically when technology is utilised. Communication with customers and giving them instant responses is very important in order to remain a company reputation.
Productivity
It is important for businesses to stay positive at all times, as a slacking workforce produces unrewarding results. Technology allows employees to get tasks done far more quickly, meaning they will very rarely have to spend all day carrying out mundane tasks. A great example of technology helping to increase productivity is the implementation of warehouse management system software, which helps to ensure that warehouses stay efficient and on top of stock. The infographic attached explores the idea of a superhero workforce, which applies the strengths of certain superheroes and matches them to every-day jobs.
Marketing
Technology has completely banished any restrictions that companies once had when it came to marketing. Businesses no longer have to rely on print advertisements to get the word across, and now have access to a huge variety of online resources that reach out to large audiences within minutes. This includes the use of email marketing, mobile marketing, search engine optimisation, and social media.
Manage Finances
Whether you do it in-house or have a team of accountants managing your finances for you, utilising technology helps to keep a close eye on all finance matters. Accounting software displays all your finances on a dashboard, making it easy to see where money has been spent. The days of spending hours analysing every receipt and document are in the distant past, and there are likely to be very few mistakes now that technology is doing the number work for you.
Make Smarter Decisions
Business intelligence software allows you to organise and analyse whatever data you like at the click of a button. This software will also help you to find important information and will report any errors that may be causing problems. Business growth can occur very quickly for small businesses, meaning it can become very easy for things to spiral out of control. With the use of business intelligence technology, businesses can analyse what is going well and what needs improving, and as a result, make smarter decisions.
