Technology is changing how businesses operate at an unprecedented scale. All business elements—communication, advertising, purchasing, and sales now rely on technology to get complete faster and more efficiently.
New studies reveal that about 64% of small businesses use technology to meet their objectives. 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 enabled easier storage, sharing, and access of data online. The technology cuts down the need for expensive hardware and tedious paperwork and stores large volumes of data. Statistics show that 92% of small businesses now use at least one cloud-based solution in their operations.
And the best part? Most cloud solutions are usable by even less tech-savvy business owners. They are user-friendly and can be accessed from any location with an internet connection. Cloud computing allows organizations to share real-time data, significantly boosting business productivity.
A paperless business has many benefits. It is eco-friendly, a good thing for any business looking to thrive in a society that constantly advocates for a pollution-free planet. Ditching paper also enhances security for sensitive business data, improves collaboration, and streamlines the entire workflow.
Loan Center, a company that gives car title loans online, says it started managing twice as many loan applications after moving its entire application process online. Other industries like healthcare and law that initially relied on paperwork to complete many functions are now integrating technology into their operations, and it’s working.
Smart businesses had already moved most of their operations online before the pandemic occurred. And remote working became inevitable with the pandemic’s social distancing protocols. And now, working from home has become the norm for many businesses.
Statistics show that an estimated 70% of the workforce will be working remotely by 2025. Workers will avoid the dreaded daily commute, and companies will save on rent and other expenses associated with equipping physical working spaces. Technology is making telecommuting a reality.
For instance, video conferencing services like Zoom and Google Meet have become popular for online meetings and conferences. Tech communication solutions are poised to become mainstream to aid smooth transition to working online.
Extended Customer Reach and Improved Customer Service
Previously, businesses relied on customers to visit their stores in person to close a sale. Many processes were involved in the customer’s buying journey, and they would take long to make a purchase. This has changed for the better. Shoppers can now visit ecommerce sites such as Amazon and Walmart from anywhere and buy what they want.
Businesses can now reach their target customers easily and cheaply across national and international boundaries. Easy online shopping, secure payment systems, and convenient delivery systems make business processes seamless. Businesses have also improved communication systems and some use chatbots that offer personalized 24/7 customer support. Technology has transformed business for the better, and we can’t wait to see what it does next.