The Importance of Technology In Business

The Importance of Technology In Business

This report reveals that computing and technology has become an inseparable ingredient in the world of business now.

The Computer Tendency – A Short History

With it, computer owners have invariably taken to entrepreneurship in several diverse fields. As a result of the advancement of computers technology and the Internet, new methods have been developed for processing everyday business activities easily. Minus the introduction of technology, routine tasks would otherwise have taken and enormous amount of time and specialty. Undoubtedly, the computer symbolizes the most effective technology development in the last century now, as it relates to companies, both big and small. Advances in the field of technology have created a vast variety of business opportunities.

Some Data

In 2003, the U.S. Small Business Administration produced a report/survey that established conclusively that more than 75% of small businesses owned computers and had greatly invested in new technology. Let’s try and comprehend how they contribute to boost their productivity and exactly what the computers mean to companies.

USE OF COMPUTERS IN COMPANIES

The fundamental reasons for the popularity of computers with small businesses are speed their efficiency, low procurement cost and much more than other things, capability to manage multiple jobs with little chance for error.

Office Routines: Almost invariably, businesses loaded with the weight of the pressures of being mean and lean, fall back upon technology for many of the administrative tasks along with rising workloads. This work comprises, amongst others, inventory managing, bookkeeping and email. In bringing down the expenses of communication and marketing, the advent of the Internet has also greatly contributed. In summary, technology has reduced the overall cost of business operations.

New Business Opportunities: The surge of Internet and e-commerce has opened up a plethora of opportunities for several kinds of companies. Also, companies are able to train their very own workers using inhouse Six Sigma software applications, and as a result, save money on labour costs.

It’s now possible to have many company functions work on autopilot. It has opened up new opportunities for business consultants and software development companies. Another company style that’s opened up as an outcome of advancing technology is outsourcing. It is now feasible to get a company in The United States to have its data entry and client service centres in foreign nations such as the UK.

Indispensable Components of Small Businesses

It’s not easy to think of a scenario where businesses can do without technology and computers today. It is very hard to say whether businesses depend on computers or computers .

Applications Specific To Small Businesses

Certain powerful, yet straightforward software has come to the rescue of small businesses in opening up new channels and reducing their tasks. Easy applications like spreadsheets and word processing helps them keep track of correspondence and maintain accounts, financing. These applications allow the users to customize other functions as well as reports to accommodate their particular company.

Drawbacks

Both women and men in business have adjusted successfully to new technology. But the SBA report cites the general decrease in ability levels of individuals, which may eventually result in an overall decrease in income levels. It seems that folks get used to technology doing all of the work and have a tendency to fail their ability development. It’s up to individual companies to make sure that their workers remain able to do crucial endeavors minus the aid of computers, if required.