You would be hard pressed to go through a single day without using technology in some way. In businesses, technology can have both good and bad connotations. The bad include theft from hackers or employees with great technical knowledge, decreased human interaction and even job loss as many processes that were handled by humans are slowly being automated. It may lead to outsourcing of local jobs. The good aspects of technology far outweigh the bad. Below are some important ones:
- Faster and improved communication
It goes without saying that correspondence between your colleagues, suppliers, customers and people directly or indirectly as long they are involved with your business, will be improved. Technology has made it such that purchase and sales orders, invoices and receipts are processed in record time. Emails and memorandums improve the speed with which you can communicate information to others. Rather than sending a letter and worrying about how long it will take to reach its destination or whether it arrived at all or got lost along the way, send an email instead. If the email does not reach its recipient, you will most likely get an error message informing you of the same.
Customers can also easily find information about your products and services using the internet. They can find information using search engines, blog posts or your company website. Technology has also reduced the costs of communication. You will find that most email platforms are free and those that are not are quite affordable.
- Improved storage of information
Long gone are the days of needing large filing cabinets to store company data. This process not only took up large amounts of physical space, retrieving a document could take hours or days if the filing system was not properly done. Now, you can store your data in databases that are not only easy to use, the information can be encrypted so that access to the same is encrypted. The servers are used to store this information also take significantly less space than filing cabinets. You can also install data loss prevention software to keep your information intact.
- Increased productivity for your workforce
Thanks to technology, you can now keep a closer eye on your employees’ activities. You can install web filtering and key logging software that will prevent them from accessing sites that are either inappropriate or time wasting. This software also lets you know which of your employees are dedicated to their jobs. This information can come in handy during restructuring or when considering promoting from within.
- Increased accuracy in your business processes
Technology helps manufactures streamline their process leading to fewer defective items. Retailers use Just-In-time inventory methods to keep inventory at a minimum, reducing storage costs and freeing up cash for other operations. This method requires technology as each time a product sold, it is removed from the inventory count and each time it is returned by a customer, it is returned to the same provided it is still in a good condition for resale.
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