We are currently living through a golden age of technology. Innovations such as the cloud, internet, and smartphone have transformed the way we consume data and communicate with each other. Almost every industry on the planet has been forced to change its business model. But while change is a challenge, it also presents an opportunity. So, here in this article, explore how technology has influenced business over the past 15 years because seeing how technology can change business for the better will help to prepare you for any new technologies that come along shortly.
Increased productivity
All business processes can be enhanced with the help of technology. More streamlined processes mean greater flexibility and more profit. So it’s no wonder business productivity is the main reason why companies deploy technology in the first place. A good example of using technology to increase productivity includes allowing users to connect to the network from outside the office. This enables remote working, which has proven to boost productivity.
Over the past few years, many businesses in a variety of industries have had to rely on technology to help them work remotely outside of the office in many different locations or on the go. Technology can also be used to improve task management across the organization, with many apps providing prioritizing features and more.
Reducing delivery times
Most major manufacturing and retail companies use just-in-time supply chains to improve cash flow and reduce warehousing costs. But if these supply contracts are not managed carefully, these costs can be passed on to suppliers instead. Technology has helped companies change production processes to meet demand quickly. Because products can be produced at short notice, fewer products need to be stored, so warehousing costs are reduced.
From robotics and automation to mobile and wearable technologies, there is a wide range of warehousing technology now available that can help speed up processes and reduce picking and shipping times. Automated picking systems can be used to reduce staff overheads and picking errors. At the same time, prepared orders can be automatically linked to couriers to expedite delivery.
Better customer service
Improving customer service is one of the best ways of increasing profitability and achieving growth targets. This is especially true in today’s uber-connected tech-focused world, where customers have more power than ever before. Technology can be used to improve customer service across the entire customer journey. Examples include; improving communications, automating email campaigns, providing self-service checkouts, and offering in-app post-buying support.
Tracking customer data can also help to identify problems with products or services early. For example, customer service staff can track which products are generating the most support calls. This allows companies to proactively develop solutions before they become an issue.
Improved products and services
Technology allows the development of new and innovative products and services. In some cases, entire industries have been created on the back of technology enhancements. The iGaming industry is one of the best examples of how technology can be used to launch new products and services. With the latest slot game development and technological advancements, online slot games and more can be effectively provided to customers through a range of popular online casinos such as Pinkcasino.co.uk.
Whether companies are creating new and improved products for their customers or changing the way that they deliver their services, keeping on top of the latest technology, upgrades, and industry news is a must to stay ahead of the competition. Over time a range of technologies, such as cloud hosting, smartphones, virtual reality, and 4G/5G, have all contributed to transforming a variety of industries.
More skilled workers
Technology has a huge impact on the workforce, with many low-complexity jobs being replaced by automation. This could be seen as a negative side-effect of the rise in technology usage, but it also represents an opportunity for affected workers to reskill. Over the years, job openings have been slowly opening up in areas that were never a job in the past.
Companies are hiring social media managers, IT support workers, and many more digital roles as companies start to become ever more reliant on digitalization. Although technology has made some jobs obsolete over the years, technology still needs to be effectively managed to ensure that it is operating efficiently and the software is up to date.
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