Failure to adaptation to technology might cost a business million bucks. It may even cause your business to fade away. Technology has made present-day business smart by filtering out redundancy and keeping the best practices only.
Diminishing Barriers via Increased Connectivity
No matter what product or service you are offering, if you have an online presence, your customer is literally just a matter of clicks. From websites to social media pages and mobile apps, present business is soaring like never before. Reaching out to right customers has become hassle-free just because of advancement of technology. Thanks to the internet!
The way businesses market themselves has evolved much and so have the advertising and selling techniques. Billboards today are even electronic and, thus, extremely engaging. Customers can do all the shopping without stepping out of home. All you need is an up-to-date website backed by efficient and excellent customer service and your product is sold. To make it appear closer to reality, modern websites even offer live chat for instant queries about certain products of customer’s choice.
Consequently, businesses have become more conscious of their product quality and focusing more on customer services as this connectivity relief also makes the customer heard. One happy customer earns you good name, one unhappy customer costs you loss of a million customers.
21st Century Business Model
E-commerce has its roots so deep and strong in our lifestyle today that some businesses don’t even have to have a physical existence. All you need to start a business today is to a have a unique business idea. Businesses that serve as an intermediary mostly fall in this category. As a middleman, you don’t own anything but providing that service to people around the globe.
If you’re a skilled person and can’t leave home to earn money based on that skill, you simply put your product with details up on your social media page or on some other website or portal that caters to such initiatives, and you are on the go.
Evolving Workplace Dynamics
Information technology has actually made it possible to do your business while being anywhere in the world. Businesses hold virtual meetings with their stakeholders scattered world over. They don’t wait for that opportune moment when everyone they want in a meeting is available to be in their office, rather they schedule one and get everyone involved from their respective locations. Even if you’re on vacations and don’t want to miss a session, you can do so this way too.
If you want to disseminate important information to a large group, send an electronic mail. Instant message is an even smarter mode.
World Wide Web and mobile technology together have made it convenient to be in touch with anyone anywhere. It helps a great deal in outsourcing – delegating your work to a third party. A smart business has its employees working remotely and staying in touch over the internet. Other than permanent employees, you can also get freelancing professionals work for you.
Don’t see the need of a full-time graphic designer for your company? No problem. Just get the quarterly brochure designed from a freelance graphic designer and you are done!
Technology has made it easier for businesses to gather data about their potential customers. Online surveys, feedback forms, check-ins and location services; by using these, even the geographical spread of the customers can be charted out.
Transactions Made Easier
Ease of financial transactions is another added advantage of technology advancements. For business payments, online money transfer is nothing less than a blessing. For individual customers, credit cards jump in to make online shopping and other payments doable.
IT – A Flexible and Inexpensive Alternative
Easy to buy and use software and hardware for refined business practices lead to an exponential increase in business outcomes. Businesses don’t hesitate to invest in IT today because the load that intelligent software can take is commendable. Moreover, there are a number of options to choose from so you can buy without worrying much about budget.
With innovations in technology, manufacturing and factory management has also become efficient and less costly. You invest in technology once and reap the fruit for ages. Computerized systems have not only made it easier but error free too to a great extent. All the care is to be taken while feeding data and order instructions into the system.
With increased reliance on e-commerce, security and privacy of any business is something to be taken care of with due diligence. Even repute of a business is at stake because of the easy accessibility of everything to everyone and anyone. With online presence, a constant check has to be ensured so that no violations prevail.
Author Bio: This article has been written by Angela John, an entrepreneur and an IT expert who exclusively writes at cheap essay writing for business journals.