Technology has changed business in the evolution of making more profit in business with high speed, to get more customers, to be able to serve more people worldwide, to improve the product and services quality, speed up a business process, less use of human power in high-risk intensive works.
And the desire is to improve the living standard of humans on the earth we’re using technologies in our business.
Technology has changed business the way we plan, start, operate, manage, market, sell, repeat, hire, communicate and make a profit in business. Cloud computing, Driverless cars, product delivery through drones, 3d printing, artificial and business intelligence tools, collaboration tools, CRM, use of robots in manufacturing and receptions works and internet of things are the example of how technology has changed business.
But before learning about how technologies have changed business, let’s learn about what are the reasons behind the evolution of business technologies.
The reasons behind the invention of all kind of business technologies are our daily business problems and passion for innovation. In negative ways, it is global compulsion and greed to innovate to live more and better. You can also say that its practice of deep science to meet with god faster through technologies. And in a business point of view, it’s about optimisation of innovation on humans & every living and non-living element on the earth.
Following are the example that will help you to understand why the development of technologies is so adaptable for business and why they are invented? How a technology has changed the way we do business and make profits.
How does the change happen through technologies in business?
1. Communication Technologies in Business:
Travelling for the meeting inside and outside of the city was very time-consuming and lower down the productivity. It’s still today managers and teams have to travel for presentations and deals. But technologies changed the way we conduct business meetings, communicate with teams and present ideas.
Use of video conferencing technologies in Business is now common. It’s easy to use video conferencing system in which we can communicate with partners, trained employees, participate in webinars/hangouts from office with high definition HD Audio and Videos.
Even small business can use videos calls, live streaming, google hangouts and various other methods on the internet from anywhere on any device. Now the use of videos conferencing, video calling technologies and tools that it’s changed the ways we communicate with customers, partners, teams and people.
That’s why the video conferencing, calling and business communication tools are created, developed and marketed by companies. It’s because of the demand for the one-click solution to conduct and attend meetings from anywhere or without living the office.
This is how video conferencing and communication tools have changed the business.
2. Simple and faster method to get paid by customers for product and services:
Cash flow is an important part of the business. If it is slow it will impact business growth. And for that, it’s very important for all kind of small and midsize business to get paid by their customers as quickly and as easily as possible.
That’s why the online banking, mobile apps, payment gateways on the website, payment wallets, debit card and credit cards were born. It’s because customers can pay for product and services, the customer can pay bills by using mobile apps, debit cards, internet banking and digital payment wallets and business owners can receive payment for goods and services on time. That’s why business owners are integrating online payment methods in their website and business.
Now the use of banking technologies transforming the way business handle, receive and invest money. Now business is moving towards digital economy faster than ever because of the advancement in information technologies, improved the living standard and current problems that business and customers have to face in their daily life activities.
3. Information technology also changed the way we create and use business documents in daily official works:
It was not so easy without Microsoft Office to create, edit business documents, spreadsheets and presentations. I think, Almost 90% business and government offices use Microsoft office around the world offline and online. It’s because of the extraordinary functions and features of Microsoft office.
Most of the business needs to write and use letterhead, service invoice, credit memo, business letter and reports, expenses report planner, project presentation, billing report, business trip planner, business newsletter and various other documents in business. But information technologies and Microsoft office changed the way we do these works.
Now you don’t need to write and create documents from your imagination and knowledge, there is almost all kind of templates available on Microsoft office template libraries. You can save your documents directly to the cloud from office 365 and online MS office and you can synchronize files across devices. You can create, edit and share and collaborate with team leader and subordinate by the use of online Microsoft office to create and maintain business documents in real time.
Google also providing google docs for document works, google sheets for data management and google sliders for presentations in Google Drive is a great example of how technologies change daily official works.
The impact of a word processor, spreadsheet and presentation application with the use of computer and internet technologies improved the productivity, reduced the cost, increased collaboration, ease of handling and sharing business documents. Such as now you can share the file directly from word processor to a person, without file attachment in the email. Even you don’t’ need to use Pen drive now to carry your files for printouts in cyber cafes. This is how technology revolutionized the methods we use to create and share business documents.
4. Real-time support for customers:
Customers are now the real asset for business after information technologies and the rise of online business. It’s because of the perfect competition in the market for product and services, where many sellers for one product and many buyers and knows about the features of each other’s products.
Information Technology eliminated monopoly from the market. Customers have many options and they value their money more than ever. Still, there are many businesses trying to create a monopoly and many are successful due to the unique experience in their product but maximum fails.
That’s why it’s so much important for a business to change the way they deal with customers. Nowadays business wants to retain customers, they want to build the long-term relationship and they don’t want to ignore even a single customer.
The basic example, when you visit business or blog website, they ask you to subscribe for more updates. Why they do it, it’s because it’s tough to find customers and that’s why they produce subscription box within 2-3 seconds.
Even big companies like Facebook wants you to keep sharing information mean to keep using Facebook, such as 1500 people liked your page, they want next update. Hosting companies informing or sending you an email 1 month ago to renew your domain or hosting packages.
Its top quality business practices and I think it’s great to care customers. The other reason behind this care is the fear of losing customers, losing money. And that’s why everyone starts trying to sell as soon as possible you visit the website. And it’s important. It’s tough to get traffic to the business website.
But there are Artificial and Business intelligence technologies behind the customer support and selling system. And most the notification is automatic and based on user behaviours on the website. Now businesses have to build trust with customers, they have to value their money and need to build easy and simple system.
That’s why they are able with the use of business technologies to track the activity, location, age, behaviours, referring source so that they can provide 100 satisfaction and personalized experiences to customers.
And there are IT tools ready to help all type of business with artificial agents and bots, ticket support system, CRM tools, Data Analysis Tools, Data collection and reporting tools.
What is this? This is how important customer is for business. Even big brands have to provide high-quality products, support to remain in the market. And this is the change in business that you can also integrate into your business.
5. Marketing is food for a business after evolution in information technologies:
The most powerful techniques and tools called digital marketing in which we include search engine marketing, search engine optimization, social media marketing, and email marketing by using the internet. Online marketing is more effective than traditional marketing because of the wider reach, data analysis, location targeting, keywords targeting an advertisement based on users behaviours and browser history.
Marketing and promoting business online is the fastest method to find potential customers. Many offline businesses are trying to promote their business online. Many companies are providing personalized campaigns, lead management insights, free templates for small business, subscription forms, sales and CRM automation and social media marketing automation. These technologies and online marketing methods changed the business promotional practices.
And its biggest challenge for business to keep connected to customers without content marketing, social media pages, press releases, email marketing and SEO. This is changed the business but also complicated the life of small business owners. But as you know every problem comes with the solution, so there are options to automate sales, automate marketing and promotion on the internet.
And marketing automation is less stressful and required less human power. But to succeed in this change, it’s very important for the small business owner to keep upgrading tools and online marketing techniques.
6. Fastest hiring and talent management process
Business can hire most talented people from any country and it’s because of work remotely. This is possible only by the use information technologies in business. Online hiring platform is an example, in which you can select 1 person from 100 job proposal by using filter options.
You can track what they do, how they do your work. You can pay by milestone, hourly and fixed prize. You can communicate through video chat, text messages. I think today small business owners have not the problem to find and hire the right talent for right work. People around the globe are ready to start working on the project immediately called Freelancer. There are many companies operating an online business from the single room, have teams working remotely. This is the right use of business technologies and internet.
7. Employees training and development programs:
It’s important for the business to hire trained and skilled staff. But many times due to the unique project, there are lacks of skilled people in the market. It’s ok because universities don’t know and can’t predict what can be next revolution in the business technologies. What kind of skills and knowledge will be required in the market? But to solve this problem, nowadays companies are building and creating own training programs and paying for training after an interview.
They are paying highest payouts to the deserving candidates. It’s because the demand generated by customers. And companies are analyzing customer data and taking such decision. But for small business owners, there are various online courses, books and project-based training programs for employees.
This is the change happening and continues in a business where the skilled workforce is the most important power to create artificial intelligence application, program activities for robots & IOT, to integrate AI, BI and Cloud computing in businesses etc. and for innovation.
Is this training employee so much easy, fast, less costly, and flexible without online video tutorials, webinars, podcast and video conferencing?
Obviously not, it takes one year to trained and builds average skilled people even to do small HR jobs. I know it’s also about attitude and interest of students in the subject. But if syllabus and tutorial and teachers are unable to create interest of students and employees in the training then who will do?
You’re right, you can say that you’re learning from robots, even your laptop and this website, search engine and everything will be soon discovered that these are things actually robotic that today we called website, laptop and mobile. When you’re learning this article, I don’t’ know where you from are and how was your experience so far in this article on change in business after integration of technologies in business process and system.
But if we’re learning and teaching in a physical location, the experience is different. You can also say that integration of technologies (API) in business changed the experience and taste of our daily life.
And if you’re interested to take a different taste: Learn this article, it will help you to discover information technologies and its impact on your brain and life.
Here you can go Top 12 example, how a technology has changed our lives.
8. Technology has invented new ways of starting a business:
It was very tough 15-20 years ago to start a business. Owners have to arrange 2000 to 10000 dollars to start s small showroom and business. Many not were able to start. And many not were able to start due to lack of knowledge. But technological change and inventions in developed countries opened the doors for developing nations to recognize and accept the change. People analyzed the change and create products and services. Google, Facebook, Alibaba and Amazon etc. companies ruling the world of information technology and the start was from a website.
Now in 2018-19, it’s easier than 20 years ago to start a business. There are hundreds of options to start a business with minimum investment. You can start it even from home. And thousand people are doing. Even you can get ideas to start a business. You will see a different kind of inspirations and reasons to start a business.
Today, the website is the shop and you can get a website in 10 minutes for your business. You can create the shop using website builders and CMS. Not that much coding knowledge required to set up. You can start an online store and sell online. There are various online store services existed on the internet for you whatever you want to sell online. For example Shopify, Amazon etc. providing you fully hosted store, unlimited support, drop shipping integration, free shipping, secured and timely payments.
You can start the part-time online business using your website and YouTube channel. There are thousands of people earning money online by sharing and writing content that is helpful for Google search users. Google AdSense, Affiliate marketing, sponsored posts etc. are providing a great source of income for talented and skilled people. Product Reviews website, domain/hosting coupon websites and blogs, YouTube channels and many others business are the part of this technological change.
Today’s it’s all about human, how much they can learn and execute. Everything is available for everyone just needs to search. In this way, I think technology has created the smart, passive business opportunities for people. Anyone can learn how to start the business. Anyone can start a business from any location on any device.
9. Technology is like templates for business:
Technology has created templates to start, run and make a business successful. Everything is ready-made and you only have to click to start. If you want to build a website there are pre-designed HTML, CSS templates, WordPress themes in which with just little editing and change, your business is ready to move.
If you use Microsoft Office in your daily official works, you can see that there are pre-designed templates for project presentation, inventory, letters, data analysis and many others. If you do email marketing there are already templates that will promise to double your conversation rate.
If you want to design logo, marketing and branding content there are templates and online application that will do this work for you automatically. Everything is already done for you to run a business no matter its hiring, social media marketing, search engine optimization and many other things. Everything is already created and ready to integrate into your business.
This is the change, it was not possible 20 years ago, but it’s happening today. And in future people and entrepreneurs see new change. The total money that earned by entrepreneurs in 50 years, today’s it’s possible to earn in 30’s. And in future people become billionaires in 15 years.
It’s because of technology speed up the time, we’re moving faster towards the change, and we want to change at every second.
Every morning you see this technological change in business, 20 notification on social media, 5 emails, 5 website updates and unlimited Whatsapp message wait for you to start your computer and mobile. What is this? This is how has technology changed the business.
The old saying, “customer and time do not wait” and technology is following the quote.
10. The combination of Cloud computing, Artificial Intelligence will change everything that we ever have seen:
Another biggest technological change in business is around the corner. Business has to be ready for next technological change that is artificial intelligence and machine learning. This technological change will impact on the cost of business, human workforce and relationship with customers.
Artificial intelligence where everything is learned by machine about the users, when to send email, when to call, what method is best for marketing certain product on the internet etc. and it will also impact the way business communicate with customers. Most of the things are automatic and artificial with fewer humans power.
And AI technologies are very supported by cloud computing and cloud storage. Data will be analyzed in real time by Business intelligence application without humans. And application automatically replied to the customers.
Cloud-based application, Adobe creative cloud, Microsoft office online, online movies website, and cloud-hosted data visualization and CRMs and.AI applications welcoming the change and making maximum business processes automatic. This will change how we use computer and internet. In future, you don’t need to install any application on the computer and operating system run and work when the internet is connected and live.
Actually, the truth for small business is that if the business is not connected with Internet and using latest technologies, it’s impossible to operate and make the small business profitable. The hard truth is we’re a slave to this big technological change. If you don’t like to change anything, it’s ok. They will try to change you without your permission. You’re forced to change.
And the goal of business technology innovation is to make you free from everything that you control today. You only have to pay money, to get money. And its true, it’s happening still today in business. Business is all about right investment. And the funny thing is that your investment will be automatic. AI application will predict the market and financial future and project scopes. Is this not a good change?
Yes, the technological change looks very scaring in business especially when you’re fighting in perfect competition.
So at the end, I will say that technology changes the way we solve problems. Today’ we’re from fewer problem solutions to automatic fault finding methods and there are thousands of solutions for one problem in business. The Technologies not only providing global exposure for the business but also accounting and improving the living standard of humans. Today, you have data and facts to report and analyze customer satisfaction. Higher accuracy and productivity in the workplace are increasing the speed of information technology faster.
We have created technology to solve business problems. But today technology is a problem for many businesses if they don’t know how to use it when to use it, where to use it.
That’s it, what I know so far about technologies in business.
Thanks for participating in this technological change and journey. I am really excited what you think about the change?
Sharing is another part of technology in business.
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Vijay Kumar is an Entrepreneur and the founder of www.klientsolutech.com blog website that is aimed to help students, entrepreneurs in career and business development.
Currently Digital Marketing Freelancer at Upwork and so far have completed 100+ digital marketing projects successfully for online and offline clients.
In past worked in many institutes and educated more than 1500 + Students basic practical IT skills offline. Working in the IT field since 2007.
You can follow/connect/communicate here: Follow @VijayKu19267788