How Has Technology Changed Business?

By | November 8, 2011

Technology and businesses have always been intrinsically linked, each prompting development in the other. When starting up a small business, individuals will find themselves deliberating over whether to implement certain technologies. So how has technology changed business? And what are some of the essential pieces of technology needed when starting up a small business?

Quicker Responses

Advances in technology have meant that businesses are now able to have much quicker response times when answering enquiries or completing tasks. This is because technological systems are capable of multi-tasking, allowing multiple operations to be completed simultaneously.

Improved Productivity

The above improvements in multi-tasking mean that more business operations can be completed in one day. This means that productivity is increased within businesses. This is hugely beneficial for all businesses, but especially for small or newly established ones.

One of the most common technological systems used to increase productivity are computer programmes and systems. Programmes which allow the composition and mass sending of messages and information can save time and money. Database systems, such as Access and Excel, can help businesses to calculate certain costs whilst allowing them to store numerous items of information in one place. This streamlines the business and helps to make it more efficient and subsequently more productive.

More Familiar

A common problem which consumers make within a business context is that they are “unfamiliar”, with many people seeing them as faceless corporations. However, technology has begun to change this perception by making businesses more familiar and interactive with their customers. This has been achieved primarily through the internet, social media and advances in mobile phones. These are all common features of the business world and allow businesses to communicate with a large number of people in a more familiar manner.

The internet can be used to send email messages, either to individual people or to large groups. Social media is being used to help customers interact with brands, whilst also proving to be an invaluable marketing tool, and mobile phone communication (whether via text message or wireless calls) has enabled businesses to stay connected, whatever their location.

Reduced Mistakes

One of the final ways in which technology has changed businesses is through the reduction of mistakes and errors. Computer systems and other forms of technology are designed to be infallible and, whilst discrepancies can occur, these are far fewer in number than mistakes caused by human error. This means that businesses are now able to offer a more consistent and reliable service to their customers. This improves their success levels by ensuring that a positive public perception is gained.

Technology can therefore be seen to offer certain forms of protection to businesses, helping to secure customers and future growth. Technology is also used for the secure storage of data, to avoid any breaches to data protection occurring. This ensures the business performs in accordance with regulations. Financial protection is also offered with these technologies, through products such as warranties, guarantees and business insurance policies.

 

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