With the advent of technology, it has become one of the necessities in business. Over time the
business world is evolving to be more technological. Technology has become one of the needs
of the company for its sustenance. Technology has changed every characteristic of your
business and the way it operates. You must understand how technology affects your business
to benefit your business. It would help if you kept in mind that technology's role is vital for your
business operations by providing a new and better approach to managing your business.
Technology not only affects the efficiency of your business but is also changing many areas in
business such as accounting, sales, and many more.
Benefits of technology in business suggested by Hani Zeini
Irrespective of your company's size, you must keep in mind that technology has a more
significant impact on business operations. Technology helps in the production of goods that
your customers demand in a short period, but it also enables you to increase the revenue.
Growth and improvement in business operation are the primary roles of technology in
business. Without technology, companies are surely going to come to a standstill. Business
relies on technology because it helps in communication with customers, efficient operation,
and culture. Other benefits of technology in business include the security of confidential
information and research capacity.
Communication with customers
Technology plays an essential role in business by influencing its proficiency in communicating
with its customers. Today it has become one of the necessities of the employees to interact
with the customers. Advancements in communication and information technology will surely
benefit your business by boosting their efficiency and proficiency in responding when
complications arise.
Efficiency of operations
Technology has extensively optimized the undertaking of a company. One of the vital roles of
technology and business is to generate efficient processes and help businesses comprehend
their cash flow needs, and maintain valuable resources such as time. Technology helps to
prevent any duplications and errors in the workflow. Technology allows warehouse owners to
understand the management of production as well as the distribution and commercialization
process, says Hani Zeini.
Improved security
Technology helps business owners to keep their critical financial data safe and less endangered
to susceptibility. It also helps to protect classified organizational decisions and other proprietary
information that may steer competitive advantage. In this way, their business and their ideas
will remain protected from being hacked. Technology has also led to the advancement of
gadgets that you can employ to regulate your business remotely. As a business owner, you
must set a password on your computers so that no one knows and copy the details of your
forthcoming project.
Business culture and class relations
Communication is one of the vital parts of a business. Technology has allowed employees to
interact from different locations. With good communication, there will be no distrust.
Research capacity
It is an owner of a business; you must use technology to search for new opportunities that may
help you stay ahead of your competitors. Technology allows the company to survive among its
competitors by searching and acquiring new opportunities that may be available.
Technology brought many changes in society and business. These developments are
formulating the way the company operates. If you want your business to grow and prosper, you
must take advantage of technology to grow faster.
How digital transformation helps companies to survive in COVID-19?
COVID 19 has not only affected public health but has also significantly caused economic
problems. You must be aware that to prevent the spread of COVID-19, people have restricted
their movements and have started avoiding gatherings in public places. Many businesses have
also shut down due to the COVID-19 pandemic. Many employees have also lost their jobs which
is a clear indication of the economic toll.
Despite the hefty economic compensation due to the COVID-19 pandemic, many businesses
have still survived. The reason for this is digital transformation. Digital transformation has
become one of the essential needs for business survival over the past few months. Although digital transformation was one of the hot subjects before 2020, it has become one of the
necessary business strategy factors after the pandemic.
Now let us look at how digital transformation helps businesses and companies survive after the
pandemic, namely COVID-19.
Digitization
There is a wide range of initiatives that business owners have taken post-COVID-19 to ensure
their business's smooth operation. Due to COVID-19, employees got restricted from working
from their own homes' safety to avoid social gatherings. Many companies have removed old
barriers such as working from the office premises to ensure the safety of the employees. Survey
shows that a large number of people have started to work from home post the crisis. Paper-
based processes got digitized to enable remote work. Business owners are taking many steps to
reshape the experiences of the employees and their consumers completely.
Robotic Process Automation
Many companies started prioritizing digitization after the pandemic because of the waves of
disruption in one way or another. It has become critical for business owners to take advantage
of the available technologies for their business operations, such as robotic process automation
(RPA). RPA is cost-effective and quick to implement a solution that will enable your business to
run efficiently. Many tasks such as form filling, data analyses, and database writing require
more incredible speed, directly impacting productivity. RPA also frees up human co-workers so
that they can engage in other works that require a workforce.
Cognitive Automation
Cognitive Automation is one of the useful tools in the world of the business environment. With
the emergence of pandemic COVID-19, every aspect of the business has become uncertain and
unpredictable. Cognitive Automation is more advanced than RPA. It carries out tasks such as
context-driven judgment. It is also capable of handling data based on complex relationships.
Cognitive Automation is capable of performing tasks that would require human-level reasoning
abilities. The current condition is very stressful. Cognitive Automation helps in the efficient
operation of your business and also helps in increasing productivity.
COVID-19 has severe implications for businesses across the globe. Technology is already being
used in many industry sectors to overcome issues caused by the pandemic.
The post How can technology transform your business into a lucrative venture, explains Hani Zeini appeared first on Evertise.
