The business world has remained pretty much the same since the industrial revolution came about a century ago. However, there is no doubt that something like that is a once-in-a-lifetime and probably won’t ever happen again. That said, at the rate at which technology is evolving and developing, especially throughout 2021, it is safe to say what you will be swept away by the tsunami of progress, whether your business is ready for it or not!
While many business owners think that technology hasn’t come that far, they need to travel back in time 20 years and see the differences themselves. They’ll be shocked to see that there was no Internet of Things or voice searches, YouTube and Facebook didn’t exist back then, a lack of marketing platforms, and so much more. With that in mind, there is no shadow of a doubt that technology has changed and will continue to change every aspect of how businesses operate nowadays. So, without further ado, let us look at a few ways in which technology fundamentally changes how companies conduct their business operations, whether for better or for worse. Some of these ways are listed down below.
Technology Continues To Increase Business Productivity.
Nowadays, business teams are working together more closely to accomplish unified goals. In fact, the sales, marketing, IT, and service alignment, business operations evolve with the help of technology to bridge organizational gaps.
In the end, digital transformation is vital to increasing a business’s productivity. So, adding new technologies such as Microsoft Dynamics 365 improves CRM, internal staff communication, bringing value to your customers and employees simultaneously.
Technology Has Improved Collaboration.
The inability to walk down to an employee’s cubicle, chat in the breakroom, or stay in a meeting room has increased reliance on collaboration through technology tenfold. In fact, according to a Mckinsey Global Institute report, more than 60 percent of an employee’s time is spent responding to emails, gathering information, and collaborating with other internal business departments. With such a thing in mind, there are tons of collaboration tools available these days that range from Monday.com to Slack to Google Drive to Trello to Microsoft SharePoint to everything in between.
These collaboration platforms simplify how business teams collaborate, share opinions, files, tasks, project performance, and much more. In the end, these tools ensure people and goat alignment and help businesses gain insight into projects and other vital collaborative tasks.
AI Has Transformed Every Aspect Of A Business.
Artificial Intelligence is reshaping the consumer markets and business world as we know it. It is here to stay for a long time. Such an emerging technology has dramatically changed business operations and processes. It allows companies to gain a competitive advantage, granted they utilize it appropriately.
That said, there are various functions artificial intelligence can perform, ranging from CRM to machine learning to security to everything in between. For instance, experts utilize AI to monitor and track customers, predict their purchase intent, and more in the sales industry. While this is all fine and okay, there is a running fear that people might lose jobs because of AI, as it does many human-related tasks more effectively. However, the general thinking is that the implementation of AI will lead to more jobs to facilitate the transition to a more digital environment. In the end, the storm of AI is coming, and businesses that fail to adopt it will slowly wither away.
Remote Working Is The New Norm Thanks To Technology.
While remote working has already been there for the past fifteen years but, due to the Coronavirus, it is standard practice amongst most businesses. And it will likely stay that way for the foreseeable future. With that in mind, organizations had to evolve quickly to ensure their workforce had access to the appropriate tools and technology to support remote working, regardless of their employees’ location. These include tools for videoconferencing, project management, and much more so that their workforce can stay in constant communication with each other and ensure that projects get completed on time.
Furthermore, remote working also leads to a shift in performance measurement policies. Employees would be measured according to work output instead of hours spent in the office. Such an approach allows businesses to attract and retain new, top talent while also ensuring their existing employees experience a boost in their productivity levels. In fact, according to a Stanford study, employees saw an increase in their productivity levels while working at home. Furthermore, remote working also resulted in costs saving in the real estate industry due to a reduction in the need to travel to and from the office, reducing carbon emission in the process.
Business Environments Are Now Mobile-First.
Businesses are adopting a mobile-first approach to their business environment. After all, smartphones and tablets equipped with remote management apps help business owners manage and monitor their work premises wherever and whenever they want to. In fact, everything from customer relations to content marketing to sales enablement is all away with a touch of a screen.
That said, mobile technology is excellent for your customers as well. More and more individuals utilize their smartphones and tablet devices to find local businesses, sell, purchase, and share their shopping experiences with their family and friends. Such a paradigm shift has rewritten the pages of the marketing to customers book. Furthermore, technology has dramatically enhanced how we stay in constant contact with everyone around us. So, whether being able to send targeted promotional emails to a potential customer or having a chat with your coworkers, mobile technology is ever-present in every aspect of today’s business operations. It has blended seamlessly into the business operations mix with applications and software that create a web of information.
No matter your personal opinion, it is high time that you incorporate technology into your business operation in one way or another. More and more organizations will find themselves falling behind if they don’t adopt the latest business technologies. In contrast, tech-savvy ones who do will keep reaping its countless benefits. In addition, integration is easy and doesn’t require a complete rebuild of your business from the ground up. In the end, you have to understand how to utilize technology to your advantage. Once you do, you will see results in the form of huge profits!
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