4 great ways technology is changing business

Technology is changing the way businesses work on an unprecedented scale. Every element of business – communication, advertising, buying and selling – now relies on technology to get things done faster and more efficiently.

New studies show that 64% of small businesses use technology to achieve their goals. It’s now easier to connect with prospects and close deals. Here are four great ways technology is changing business for the better.

Improved access to information

Cloud computing has simplified storing, sharing and accessing data online. The technology reduces the need for expensive hardware and cumbersome paperwork and stores large amounts of data. statistics show that 92% of small businesses are now using at least one cloud-based solution in their operations.

And the best? Most cloud solutions can also be used by non-technical business owners. They are user-friendly and can be accessed from anywhere with an internet connection. Cloud computing enables companies to exchange real-time data, which significantly increases business productivity.

Paperless Organizations

Going paperless has many benefits. It’s eco-friendly, a good thing for any business that wants to thrive in a society that constantly strives for a cleaner planet. Going paperless also increases the security of sensitive business data, improves collaboration, and streamlines the overall workflow.

Loan Center, a company that gives car loan online, says it began handling twice as many loan applications after moving its entire application process online. Other industries like healthcare and law, which initially relied on paperwork to complete many functions, are now incorporating technology into their operations, and it’s working.

Enables teleworking

Smart businesses had already moved most of their operations online before the pandemic hit. And remote work became inevitable with the social distancing protocols of the pandemic. Working from home has become the norm for many companies.

Statistics show that an estimated 70% of the workforce will be working remotely by 2025. Workers will avoid the dreaded daily commute, and businesses will save on rent and other costs associated with outfitting physical workspaces. Technology makes teleworking a reality.

For example, video conferencing services like Zoom and Google Meet have become popular for online meetings and conferences. Tech communication solutions are poised to go mainstream to support a smooth transition to working online.

Expanded customer reach and improved customer service

In the past, businesses relied on customers to personally visit their stores to complete a sale. Many processes were involved in the customer’s buying journey and it would take a long time to make a purchase. This has changed for the better. Shoppers can now visit e-commerce sites like Amazon and Walmart from anywhere and buy what they want.

Companies can now easily and cheaply reach their target customers across national and international borders. Easy online shopping, secure payment systems and convenient delivery systems ensure seamless business processes. Businesses also have improved communication systems and some use chatbots that offer personalized 24/7 customer support. Technology has changed business for the better and we can’t wait to see what it does next.

Kenneth T. Shippee