How does technology help businesses? In two words, the answer is: reduce costs.
Technology helps businesses automate some of the basic functions that run a business, such as accounting and payroll, record keeping, and other back office functions. Technology helps reduce labor costs and increase productivity.
It is easier to maintain a machine than take care of a laborer. Plus, machines are loyal, they never complain and they are bounded by the rules set by their programmers. Machines only do what they are tasked to do, with no questions asked.
Another important role of technology in business is that it provides security to business processes and information. Business owners rely on technology for maintaining both business or consumer information. It allows a business to create levels of security that does not need a lot of space; not your office space, and definitely not your building’s.
Technology has also changed the way business communicates to the public. As advertising and marketing companies note: television and telephony methods have come to almost cease. Social media advertising and marketing is rising. Ads printing is produced and distributed digitally. Advertising and marketing costs are reduced, too.
As technology aims to aid everything to move faster, information is moving faster, and so does communication. It takes less than a second to send an email from one account to another, to a remote locations miles away from company premises. It takes one click or one slide to make or take a call. And it takes one push on the button to open your business from your laptop.
This is obvious now. Businesses are conducted over laptops and other portable communication devices. Making online transactions such as orders and payments can be easily done over the internet. Get a computer and get online, and there you have it, your means to close your business transactions on a regular basis.