Is it possible for today’s generation to think of a world without technology? Most of the people will say no because technology continues to evolve, affecting every facet of our lives these days.
You might not think of a world without internet or due to this Corona Pandemic a concept of “Work From Home”.
If you had access to a time machine and went back less than 10 years, you’d be stunned to see:
- An absence of incorporated work correspondences to amplify efficiencies (Think of Slack or Trello)
- The relative non-existence of social media apps like Facebook and Instagram where one can market and sell their products
- An absence of chatting and data sharing apps like WhatsApp
- No Internet of Things or voice searches for products and information.
Technology has changed every aspect of the way any business operates, and at no other time in history has that change happened so quick.
Now a days, Employers are re-evaluating their policies to see if traditional work hours are necessary and if they even need the expense of a traditional office space. However, while employers are being more flexible than ever, customers are expecting more.
Below are the 5 different ways in which technology has changed business.
1. Communication And Data Sharing
Communication is the key factor for every business. Today there are multiple options for communicating world-wide. Applications like, Zoom and Google Meet are the ways we can explain our business strategy to other people and expand our business.
Communication is effective when technology comes into the picture. Automated email and message reminders on email and WhatsApp are great examples of it. You can let your customers know about new offers your business is offering or remind them to come back to your system as time goes on.
2. Mobile-First Business Environments
Effective management is the key factor for the success of any business. Use of mobiles and tablets has changed the way management is done. Below are some examples,
- You must have seen Waiters taking orders on tablet inside hotels.
- Imagine a wholesale business where your retailers are giving you orders on the system rather than calling you each time.
3. Digital Payment Systems
Thanks to online banking, there are now countless ways consumers can move money between accounts and make instantaneous purchases from their smartphone or computer. Thanks to the systems like PayPal, Paytm, GPay and PhonePe.
It would be amiss to mention the advances in digital payment systems without touching on the topic of cryptocurrency. While still in its infancy, businesses are starting to explore the advantages of using cryptocurrency, particularly as it to relates to using block chain systems.
Technology can be quite expensive, so it is important for business owners to do their research to see how a specific technology will boost their return on investment before purchasing it.
Employers may not need to hire and offer benefits to full-time employees as outsourcing is becoming more common. The cloud makes the input of data, management of inventory, shipping processes and record keeping much more efficient than traditional methods.
5. Advertising And Target Marketing
Marketing is the key to growing a digital business. Social Media is the best tool for Advertising and Target Marketing.
The more data a company can acquire from its current customers, the more they can gather by utilising multiple social channels for marketing. As a business owner, it may take you a lot of time to look at and organise all that data, so it is important to look into software that does it for you.
Technology has a massive impact the business is done. The way businesses are working today, it is highly impossible to go back to the old ways of working and advertising. Nonetheless, businesses should constantly monitor advances in technology to see how to make it work for them and remain ahead of the competition.
WizTech provides an advanced and trusted team, which is able to provide solutions for complex problems. Contact us today to take your business to the next level.