Thursday, 13 December 2018

Technology plays a vital role in business undertakings, irrespective of size and speciality. There are limitless reasons as to why technology is important in business, and they only keep expanding with prospects of future growth


The following are some major importance of technology in business;

1 . Improvement in Business Communication

Technology broadens the extent and efficiency of all forms of both internal and external business communication. Most often, businesses depend on a variety of technological features for communication, including instant messaging, business phones (direct calls), Skype, video conferencing, e-mail, etc. Thus, a breakdown in communication can be very disastrous for businesses. With the advent of modern technology, interactions between businesses, associates and clients are void of breakdowns and obstacles. For instance, in the case of video conferencing, meetings and conferences are essential on a daily basis, for those with multiple office setups and limited employee connections. This explains why a staggering 96% of businesses testify to the fact that video conferencing in particular, and communication in general, boost productivity.

2. Cybersecurity
It is fair to say cyber attacks are growing at excruciating rates, with long-lasting and drastic effects on businesses. This has given rise to numerous cybersecurity defense systems, emphasizing on the need for businesses to be vigilant and cohere to the best cybersecurity practices. Today, a vast majority of businesses store assets and vital information on endpoints or online clouds, making it absolutely important to protect those assets from hacks by employing cybersecurity technologies. In recent times, about 50% of businesses have experienced security breaches, with only about 14% of them, equipped to properly mitigate these vulnerabilities and security breaches. This explains why most businesses spend as much as $38,000 on an average, to recover from cyber attacks and security breaches.

3. Demanded by Employees

In the global business world today, the role of technology keeps expanding and this explains why employees often urge their employers to be creative and innovative in providing the latest technology necessary in improving output, efficiency and fulfilling their various job responsibilities hitch free. It is also worth mentioning that technology keeps employees engaged in various ways, including telecommuting, collaborations through file sharing, electronic work scheduling, etc. More so, it is very difficult to compete against businesses that are technologically advanced, which often prompts employees to demand improvements on technology from their employers.

4. There Are No Limitations

Businesses with employees stationed at different locations often have the need for the presence of a constant interactive chain. This is solved by putting in place technological structures that help in the coordination of activities and even employees. Better still, businesses across the world are diverse in needs, which have several limitations. Employing technology in business will not only greatly address these diverse needs, but also ensure there are no limits as to what can be accomplished at any point in time.

5. Tons of New Resources Exist That Can Improve Your Business

Technology is growing very rapidly, with constant fluctuations in prices and new innovations coming up on a regular basis. If businesses haven’t been regularly searching for new technological features to boost productivity and output, then there is definitely a major cause for concern. For example, companies tend to save time and costs in a bid to improve business communications, relationships and output by introducing and implementing video conferencing technology.

6. Technology Is Necessary to Succeed

Whether you admit it or not, technology is very vital to success in business. Most often, employees depend on it for the smooth execution of operations. Prospective clients, other companies and even onlookers often evaluate businesses on their use of technology. Thus, in order to maintain client trust, the putting in place of a reliable and fast database must be considered, with premium and highly responsive customer care services. Without technology in business, most companies will certainly fail to achieve their goals. Source: ( Abubakr Abdulfatai )

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