The businesses in operation today have grown extremely reliant on technology, so much so that without the use of devices and machines, they would not be able to deliver services promptly nor function at all. Technology, especially information technology or IT, plays a major role in most businesses today—even small home-based startups rely on the use of a computer. Large multi-national corporations make use of powerful Dell servers to go along with hundreds, even thousands, of computers in their network.
Let’s take a closer look at how technology is used in businesses to see just how it has become the lifeblood of the world’s industries today.
Without customers, businesses would fail to even exist. Technology has made it possible for companies to improve the way they manage relationships with customers, from providing customer support systems to giving customers access to the easiest ways to order a product.
One aspect of doing business is keeping records. Rows of filing cabinets used to fill large file rooms; now, companies store digitized files on storage devices and servers. The use of data management technology has made the storage and retrieval of files faster and easier; when stored in the ‘cloud,’ the files can be easily accessed from anywhere in the world.
Businesses that focus on supplying products and goods need a good inventory management system. Manual handling of the business inventory is prone to human error; with the use of inventory management systems that are connected to the point-of-sale system, the inventory is automatically updated and the possibility of error significantly reduced. Keeping track of the quantity of each item is made easier and faster; managers are immediately notified if a stock is running low. Many inventory management applications can be programmed to automatically order additional stock from the supplier, and managers are given access to the status of their inventory in real-time.
Management Information Systems
Businesses rely on management information systems to track their progress so that they can analyze if they are doing well, or if there is a certain aspect in their operations that they can improve on. By tracking their expenses, sales data, and levels of productivity, companies are able to make a strategic plan to develop their business, increase sales, deliver services faster, and ultimately make their business venture more profitable.
Before the Internet came along, businesses relied on face-to-face meetings, telephones, and what we now call ‘snail mail’ to communicate with suppliers, clients, and customers. With the advent of communication technology and the Internet, the methods of communication have gradually shifted to the use of e-mails, mobile phones, instant messaging, chat systems, voice over Internet protocols, and videoconferencing. Technology has made communication fast, convenient, and practical: no longer will parties have to travel to a meeting place, saving them time and money, and the waiting period for client feedback and the delivery of services has been greatly reduced, allowing businesses to become more productive in its day-to-day operations.
Communication technology has also made it possible for businesses to promote their products and services online through websites and social media. News, events, and promos can instantly be shared across vast networks, giving businesses that make use of technology an edge over those that don’t.
As you can see, without technology businesses would flounder. Technology enables businesses to save on resources, become more productive, expand to the global market, and connect to customers in the quickest and most convenient way. If you want your business to succeed, better make the most of what technology has to offer.