How Technology has helped improve business

Technology is all around us. In recent years, unprecedented advancements in technology have resulted in numerous changes in every facet of our lives. Businesses have also been positively affected by the surge in technology. Here are four ways that technology has helped to improve business.

COMMUNICATION
Whatever your business, communication is key. Technology has helped to advance businesses by making it even easier to communicate with customers, partners and other businesses. The emergence of email and instant messaging has enabled businesses to communicate with both internal staff and external customers at super-fast speed. Social media has provided a valuable opportunity for businesses to reach out to a wide array of potential customers and increase their visibility exponentially. Better communication between staff members will ultimately promote morale and unite teams, benefiting both staff and profits.

PRODUCTIVITY
The ultimate aim of technology in business is to increase productivity and profit. Technology has allowed businesses to become more productive by minimising human error and introducing easier, more efficient systems of working. Electronic filing systems have enabled businesses to store important information in databases, reducing the amount of office space taken up by physical files and making it easier and less time-consuming for staff to search through important documents. Electronic documents can also be backed-up, reducing the possibility of loss or damage. Video-conferencing is another technology businesses can embrace to promote productivity. Video-conferencing is an effortless means of communicating with staff and customers over long distances; the emergence of videoing technologies has eradicated the need for long-distance journeys to clients and suppliers, reducing the amount of time employees need to be out of the office and therefore increasing productivity.

EVOLUTION
Technology is helping businesses to evolve and advance. Databases can be used to track sales and reports pulled from data input can enable businesses to determine trends that will allow them to maximise their profitability. Data can be presented clearly in a number of ways with minimum effort- numerically, or in graphs or charts, and can be easily assessed to identify business trends. Collecting electronic data year after year means businesses can compare their successes (and failures) and identify areas of potential improvement. Advancements in technology have ultimately meant that crucial business information can now be processed at the touch of a button and presented in an easily digestible format for the benefit of the business.

SPEED
The advances in technology means businesses never have to sleep. Thanks to the world-wide-web, vendors now have a massive range of potential customers across the globes; once national markets have become international and have customers all over the world. The increasing popularity of online shopping means customers from all corners of the globe can shop at whatever time suits them and use email and messaging services to contact vendors directly in a speedy manner. Quick communication with customers ultimately means a higher likelihood of sales.

So what does this mean for me?
Well, it means that if you aren't up to date with the recent advances in technology and aware of their implications for businesses, you're missing a trick. Whether you are a business owner or an employee, having an understanding of how to use IT to maximise business productivity will help you get on in any role you occupy. Taking a certified ITIL training course is a great way to learn about the benefits of technology and, specifically, how to adapt technology to the needs of your business to maximise business goals and needs.

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