What Role Is Technology Playing In Building An Advanced Business Landscape?
by Abdul Aziz Mondal Business Published on: 22 February 2018 Last Updated on: 08 October 2024
Technology is there to help us; it’s why it was created. No matter where we are or what we’re doing. There will likely be a digital way of getting that job done more efficiently and quickly.
When it comes to business, technology is invaluable. How can you use technology in your business and become more successful than ever? We look at some of the easiest yet most profitable ways.
Technology & Business: Ways To Use Technology In Your Business
New and emerging technologies have been pivotal in helping businesses across their many verticals. For example, sales software enables companies to keep track of all their leads, queries, and conversion rates.
Likewise, a CRM tool allows them to manage customer expectations. M&A Technology has become an integral asset for businesses looking to plan mergers and acquisitions.
With the start-up ecosystem dominating the world’s financial markets, the need for M&A Technology is more significant than ever.
1. Productivity:
Digital technology can help your business to become more productive, which in turn means that your bottom line should be more profitable.
Time-tracking software is a fantastic innovation because you can monitor where employees spend the most time. Subsequently, you can work out whether you need to change your focus to be more productive.
Or you may consider digital dictation. This can streamline your work and processes and make everything much more efficient. There are also some fantastic project management tools you can use on mobile devices or your laptop.
These tools help keep you on top of your daily tasks, enabling you to prioritize as things change around you. After all, nothing will stay the same. Regardless of what sector you work in, so you need something that can work in real-time.
2. Finances:
Using digital technology to keep track of your finances can help you become more profitable. You can use online invoicing services, such as automatically billing and collecting money from your clients.
This kind of technology saves you considerable time, which you can spend working to boost the company further. Or you can use this for personal growth.
You can even find an online budget maker alongside your bank account. It will show you how much you’re spending in which areas to enable you to make the necessary changes. You may find that you can cut out some expenditure items entirely and keep your budget much neater in the future.
Taxes can often be a problem for businesses because they are complicated and there are many rules around them. However, using digital technology to file your tax return online means you won’t be late. Moreover, you won’t fall foul of those rules (because it will walk you through what to do, step by step).
Not only that but if you do have an accountant or bookkeeper using cloud-based digital technology to share files it makes working together much easier.
3. Marketing:
In all the aspects of business that digital technology can help with, marketing has the biggest impact. Without any marketing, no one would be aware of your business, and your sales would be hugely reduced.
Digital technology can help you to create the ultimate marketing plan which can be easily edited so that it is always up to date. You can also share these plans with relevant members of your team so that everyone understands what it is they are meant to be doing. Social media is another amazing way that digital technology can be used in marketing.
Depending on your audience and the product you are marketing, Twitter, Facebook, Instagram, Pinterest, or one of the many other social media platforms will give you a far greater reach than you would normally have.
They also allow you to interact and engage with your customers and clients, answering queries in real-time and showing that you’re an extremely knowledgeable and professional business. Starting a blog is another excellent way to utilize digital technology.
Make sure that what you’re writing is relevant to the industry you work in and use the blog to position yourself as an expert in your field firmly. If you love the sound of using digital technology in your marketing efforts, it may be worth speaking to the experts at Octopus Creative Inc. who can help you put together a plan that works.
4. Collaboration:
Digital technology makes collaboration much easier, and that allows you to have a streamlined, professional business. You can allow your team to work remotely should they want or need to, for example.
In many cases, remote working boosts productivity, but only if the technology required to do it allows for it. Setting this up in advance works best, and when it’s done you may find that you are saving money (you won’t need physical premises) and getting more done.
Digital technology also allows for teleconference calls which are perfect if you do have a remote team, or if you need to speak to clients and bring specific team members into the call as well. This is also a way to hold a webinar or online workshop. These are perfect ways to engage more with your audience and to show them exactly what you know.
Finally, you can utilize instant messaging systems like Slack, Jostle, or Fleep. Doing so means you can connect with your team instantly while allowing them to work remotely or independently.
5. Customer Service:
Digital technology allows you to create and manage online surveys and questionnaires, which can be sent out to your customers and clients to get a good idea of what they think of you and your products.
When you collate this information, you can see where you need to improve and what’s already working. It can be invaluable for any business; if you work how your customers want; they will buy more from you.
You can also use digital technology to let customers schedule their appointments, which is often more convenient for them and means that your team (or perhaps you) is spending less time dealing with customer queries and more time running the business as it needs to be run. For serious issues, you can even set up an online helpdesk.
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