Technology has revolutionised the business world in a big way. With every business using some level of automation, technology is present at all stages, from simple accounting packages to complicated CRM and enterprise application systems.
Information and communication technology (ICT)
ICT has opened up multiple channels of communication and information assimilation for businesses. It has also made communication flexible and faster, thereby leading to better organisation and greater convenient. Easy access to information allows businesses to stay in tune with the current trends in technology to grow their business.
ICT has simplified contact with colleagues and clients in different parts of the world. It has strengthened collaborative work since people can work at different times depending on their lifestyle. ICT allows you to organise, process and store information easily and conveniently.
Virtual collaboration and storage
Thanks to technology, teams are no longer restricted to working in the same room or office. Presence of technologies such as virtual desktop and cloud computing have erased geographic boundaries. Files can now be uploaded into the cloud and accessed by authorised personnel from anywhere in the world. Sharing information has become so much easier.
Mobility
The emergence of mobile devices such as phones, tabs and laptops has been of tremendous benefit to the business sector. Optimisation of mobile systems and wireless network is termed as enterprise mobility management (EMM). It helps increase productivity of the business.
For example, virtual desktops can be shared among team members over mobile devices, leading to stronger collaboration in the company. These technologies have enhanced the quality of output and customer care.
Security
Advanced multi-level security channels, anti-virus and anti-malware systems, password protection, voice recognition, retina scan, fingerprinting and several other technologies ensure security of your data. Additionally, technology has also brought out hi-tech locking systems and anti-alarm systems to prevent security breach in the physical storage areas.
Marketing
Technology has created a platform of equal opportunity in marketing for businesses of all sizes. Organic Internet marketing is very cost effective. Practices such as SEO, social bookmarking, social media marketing, article submissions, blogging and all such practices give a lot of scope to tap potential market.
Cost saving
Technology requires initial investment. But once done, it saves costs in the long run. For instance, emergence of Business Process Outsourcing and Knowledge Process Outsourcing allows businesses to outsource the job rather setting up the infrastructure in their office premises. Virtual desktops are also an example of outsourcing.
Technology has reduced dependency on workforce up to a great extent. So, businesses can reduce their spending on workforce as well as the related costs.
Besides, with the use of technology at various levels, expenditure on communication, postage, security and several avenues of businesses has reduced significantly.
