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  • Navjyot Gill

Importance of Technology in Business

Overview


Technology has changed our world forever! Look around and you will see the use of technology in every dimension of our core existence. We have become more efficient, knowledgeable and better connected when technology walks hand in hand with us.

Today, living without technology is unimaginable. From our businesses, healthcare, pharmaceutical, banking/finance, sports, science and research etc. technology is contributing significantly to every segment.

It is a no-brainer that technology has become an integral part of our everyday lives and make no mistake, it is here to stay forever!


Technology in Business


Technology has assisted businesses with innovative and creative strategies to become leaner, more efficient, highly productive and profitable. Here, we look at a few of these sophisticated technologies and the favourable outcomes they provide.


Internal Advantageous Roles of IT Integration


  • Office Set-Up

One of the key benefits is ensuring that the staff/workforce develops a tech-savvy approach to day to day operations involving the business. Your office must be equipped with the best technologically advanced hardware and enhance its value by adding appropriate software This will result in better productivity and maintaining a competitive edge, thereby improving your bottom line.

Importantly, with new technologies emerging rapidly, the staff will be better placed to incorporate them efficiently.

  • Effective communication

This plays a significant role in the efficiency of an enterprise, both concerning inter-departmental coordination to ensure that every system within th business is streamlined.

Prompt communication internationally also plays a significant role. Digital Platforms like Email, What's App, SMS and Video-Conferencing with Skype and Zoom etc. can play a vital role in furthering the optimization of any enterprise. This will hold a huge advantage for Marketing and Overall Business growth.

  • Decision/Policymaking

It must be synced in a manner to is decisive and relates to immediate action. All the relevant statistics/data sources/ must be readily available to ensure that effective policies are introduced regularly. Technology can help with regular updates to the existing databases by replacing the outdated ones with new more relevant data. Staying abreast with the latest technological trends is crucial for this segment


External Benefits of Technological Services

  • Marketing & Advertising

Never forget that competition is stiff all around. Your rivals are equally employing every strategy to stay ahead. The technology incorporated in marketing and advertising can be a decisive factor in the success of any business.

The utilization of technology will take your marketing strategies to the next higher level. It will offer you a suiatable solution to use Digital and Social Media platforms to run advertising campaigns on. We all know the huge benefits that accrue from Social Media Marketing.

  • Maintaining a Competitive Edge

Technology can help in making your presence impactful in the marketplace. Remember, your business must always be ahead of your nearest rivals. There are numerous technological Tools available that can give you that cutting-edge advantage. Make use of all the Online Tools at your disposal to attract more traffic to your enterprise.

  • Remain Customer Oriented

Advanced technological resources like CRM management systems give you a deeper insight into the precise needs and demands of the customers. These systems will enable you to accurately target a specific customer base at the most opportune moment to prevent them from crossing over to your competitors.

  • Stay Safe and Protected

Security is a major cause for concern in the Cyber world, threats are always lurking around the corner. Malware and Ransomware attacks are threatening our lives and businesses constantly. According to a recent report, Rnasomawre economies are the third-largest economies after the US and China!

Utilize the functionalities of Cloud Storage technologies to stay safe from unlawful cyber-attacks. You never know, your competition may try to sabotage your business.

  • Stay Industry Relevant

It matters little what industry type you are in, there is a custom-made technology system designed for you. You must identify them and take maximum advantage of the solution that sophisticated technology brings to the table.

Never try to incorporate specifically designed technologies for another industry segment into yours, it may not be as effective, stay focussed on your target audience and your unique business profile.

There is technology for everyone!


Final Words

While it is a given that Technology is critical to the optimum outcome of any business enterprise, never underestimate its potential. Technology is limitless and not static, it is evolving every minute in all segments and it is humanly impossible to predict what tomorrow might bring.

But, all said and done, one aspect that is clear as daylight is its importance in engaging with it to profitably optimize a business venture.

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