There often remains a persistent and constructive gap between the inherent value of traditional operations and technical promise. At a time of fierce global competition, the distance between technology-operated businesses and manually-operated is a matter of especially significant concern, that is, for competitive advantage.
Technology represents the tools and practices used to meet customer needs while continuously improving our ability to maximize business opportunities, meet market demands, and improve performance.
Technology has changed every aspect of the way any business operates, and never before in history has that change occurred so fast.
As costs continue to rise, technology is becoming increasingly important in increasing business efficiency. By implementing these advances, teams can quickly identify, document, and resolve issues to eliminate customer dissatisfaction, reduce costs, and increase productivity. For manufacturers, inaccurate manual data, inefficiencies, and errors cost them time and money, which can have a significant impact on their bottom line.
Below you’ll find aspects in which technology has fundamentally changed business
•Adapting Remote Work
The occurrence of the COVID-19 pandemic urged companies to adopt a remote work culture to prevent cases from occurring and to control the number of cases as a countermeasure. Organizations needed to ensure that their employees had access to the technology and infrastructure that supported them. And with the availability of the internet and project management tools, staff can keep working.
• Increasing Collaboration among employees
The incapability to communicate has radically increased the requirement for collaboration. A McKinsey Global Institutes Report stated that more than 60% of work time is spent responding to emails, collecting information, and collaborating. With this being said, there is no unavailability of collaboration tools that companies have hooked on like OneDrive, Microsoft SharePoint, Slack, Google Drive/Docs, and so on. These streamline how we can work together for file storage, tasks, project collaboration, file sharing, and team discussions.
· Improved Business Productivity
Teams are now working more closely together to achieve common goals and meet or exceed growth targets. By aligning IT, marketing, sales, and service, business operations implement and develop more streamlined business processes, reducing organizational disruption. As mentioned above, technological innovation is essential to improve the productivity of a company. The addition of new technology to stacking aids reduces costs through lower production costs, inventory management, faster time to market, and time savings, adding value to your business and generating revenue. promoted transformation.
The rapid advance of technology will not slow any time soon. More and more businesses that fail to adapt will find themselves left behind, while the savvy ones who learn to keep up will reap the rewards. You don’t have to rebuild your business from the ground up—there’s some kernel of merit that’s allowed you to enjoy success thus far. You have to understand how technology affects your business
REFERENCES;
https://www.gomodus.com/blog/eight-ways-technology-changing-business
https://www.quora.com/How-do-you-use-technology-to-grow-your-business
