Benefits of Technology in Business

Advantages of Technology in Business: The Benefits of Technology in Business are many. Technology is a broad term that is being used in every field such as medical technology, Information technology as well as biotechnology which are growing very fast. Technology has brought better or automated solutions that assist both science and day do day activities in businesses.

Regardless of the increase in technology, many businesses still shy away from adopting technological tools and web based services on the false perception that adapting to technology is costly and unnecessary.

In real sense technology can increase productivity, lower the company’s operational costs and give the business a better chance than the others.

Benefits of Technology in Business

We are going to highlight some of the benefits of technology in business

Benefits / Advantages of Technology in Business

1.    Reduces duplication of work

Technology eliminates the tendency of doing the same work twice. When one is trying to do the same task, the technology will automatically decline or inform the user that the same task already exists.

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2.    Better and easier Storage

Technology does away with the tendency of doing double entry or multiple entries on the database that is used to store information in businesses. The data can be stored in a server or a machine that can be easily retrieved to speed up the customer services, unlike where you rent warehouses to store the clients files.

3.    Faster and Improved Sharing of Information

Technology has made information to be shared faster and in an organized manner. It has enabled use of fewer resources to reach a number of people more quickly. Marketing can be done through social media or the internet where millions of people can be reached in seconds.

Through technology e-learning has also emerged, people are able to share or read information from the comfort of their homes instead of attending classes. This enables employees to sharpen their skills while at home thus improving the business.

4.    Speed and Time

Many years ago many people communicated through sending a messenger or by postal service to another person in a different geographical location which took many days to convey the message.

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Today, with the introduction of information technology small businesses are able to adapt quickly to technology than big companies, thus being more swift in their operations and responsive. For instance, by the use of technology one is able to communicate to a customer who is miles away, instant by use of email or telephone. This saves time, money and creates the ability to make decisions faster.

5.    Business Automation

Technology has enabled small businesses to automate certain functions that would have required employing many employees. This has enabled small businesses to cut down on costs and focus on building the business. For instance bookkeeping functions can be done by software solutions such as quickbooks.

Many companies used to hire phone receptionists to answer and forward calls from their customers to the respective department but with the introduction of automated phone attendants, companies no longer worry on employing people to answer phone calls. Programmed phone attendants can be used to greet callers and forward their calls to certain individuals or departments in the organisation.

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6.    Specialized Employment

By the emergence of technology, it has led to specialization of work; one is able to concentrate to a specific task or work. This leads to the faster growth of the business.

7.    Reduces Business Cost

Many companies are reluctant to adapt to technology, in fear that technological tools are expensive and costly to maintain. For instance those who use postal services or courier to send invitations to their customers will tend to cost more than using an email which is faster and free.