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5 Ways Technology Impacts Your Business

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Anyone who owns or manages a business in today’s hi-tech world understands that technology has a huge impact on literally every aspect of running their company.

If you are wondering just how important technology really is in your day-to-day affairs, perhaps it’s time to look at just some of the ways in which your business would suffer without the technology you take for granted.

Marketing

Let’s start with something you probably hadn’t considered. Marketing is the key to growing your client base, which in turn grows your bottom line, and without technology you’d be advertising in newspapers, which few people subscribe to anymore, or pounding the pavement with business cards. As one area within the field of information technology, IT, marketing is something you couldn’t survive without!

Processes and Procedures

There are any number of processes and procedures in which technology plays a critical role. Automation is one of the areas many companies are reliant on in both back and front end operations. Production lines and a huge number of office procedures are now automated.

Ask any bookkeeper or accountant what they would do without technology and they’ll tell you that, although doable, they wouldn’t be nearly as efficient without such things as an automated accounts payable process. Technology like this eliminates the need for entire teams to track invoices through to the eventual payment in full, as a single bookkeeper and an amazing bit of technology can handle a job that once took several people to get those invoices paid and recorded!

Communications

Entire books could be written on the ways that technology impacts business communications, but suffice it to say that the speed and efficiency of communications is only made possible by digital technology.

Whether your company chooses to use video conferencing for staff and/or client meetings or Cloud-based collaboration, technology makes it possible to send huge amounts of data within nanoseconds, whereas couriers ‘might’ have gotten packets to a recipient in a number of days in the past.

Recruitment

It would be interesting to note the number of people who found their jobs online. Whether through recruitment websites like monster.com or through a Positions Available page on your company website, few people go the ‘traditional’ route of procuring employment. Potential employees may still read the classifieds in the local newspaper, but you can bet they will be searching the online digital adverts!

Human Resources

What would Human Resources do without the Cloud-based HR platform they’ve learned to rely on? From training to payroll, HR is so much more efficient because of technology. Not only are processes faster, but labor is reduced and communications are improved.

 

There you have just five of the most basic ways in which technology impacts today’s businesses. Can you see how it affects major improvements in the way you run your company? If nothing else, it’s time to do a bit of research – technology is always advancing, and you never know when its next big advancement is what could propel you to the very top of your industry.

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